CHC Student Housing Corp.
TSX VENTURE : CHC

July 08, 2015 12:41 ET

CHC Student Housing Withdraws Prospectus

TORONTO, ONTARIO--(Marketwired - July 8, 2015) - CHC Student Housing Corp. ("CHC" or the "Company") (TSX VENTURE:CHC) announces that it has determined not to proceed with its previously announced public offering at this time and is withdrawing its preliminary short form prospectus in respect of the offering filed on May 14, 2015.

"Despite positive feedback from institutional investors about the student housing sector and CHC's strategy, macro driven volatility within equity markets especially for real estate companies, has not translated into offering terms acceptable to the Company, its board and existing shareholders. The Company has decided not to proceed with its public offering at this time," commented Mark Hansen, President and CEO of CHC.

In the interim, CHC is reviewing various strategic alternatives for completing some of the acquisitions described in the prospectus and CHC's press release dated May 14, 2015, which were to be financed through the prospectus offering. CHC will provide updates as developments unfold.

"The Company, its board and its partners continue to believe strongly in CHC's strategy to consolidate and build this specialized asset class, with our goal to become the leading, dominant student housing focused real estate company in Canada," continued Mr. Hansen.

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the completion of certain of the transactions described in the preliminary short form prospectus. Although CHC believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. CHC cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various. The reader is referred to the Company's annual information form for the financial year ended December 31, 2014 for a more complete discussion of risk factors relating to the Company and their potential effects, available under CHC's profile on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Mark Hansen
    President and Chief Executive Officer
    CHC Student Housing Corp.
    Telephone: (647) 288-9355
    Email: mhansen@chcrealty.ca

    Robert Waxman
    Chief Financial Officer
    CHC Student Housing Corp.
    Telephone: (647) 288-9375
    Email: rwaxman@chcrealty.ca