CHC Student Housing Completes Sale of Trois-Rivieres Property and Mails Information Circular for Shareholders Meeting

Toronto, Ontario--(Newsfile Corp. - January 9, 2020) - CHC Student Housing Corp. (TSXV: CHC) ("CHC" or the "Company") announces that it has completed the previously announced sale of its Trois-Rivieres, Quebec student housing property to an arm's length party for total gross proceeds of $3.15 million. Net proceeds to the Company from the sale following payment of the first mortgage on the property, working capital deficiency at the property and transaction expenses were approximately $425,000, and were used in whole to pay a portion of the deferred interest on the second mortgage on the Company's London, Ontario property.

The Company also wishes to announce that it has mailed and filed its management information circular and related meeting materials in connection with the annual and special meeting of shareholders to be held on January 24, 2020. The purpose of the meeting includes seeking approval for the previously announced sale of the Company's London, Ontario property to an arm's length party. The meeting materials are available on SEDAR at www.sedar.com. The Company encourages shareholders to read the meeting materials in detail. To ensure that your CHC shares will be represented at the meeting, shareholders should carefully follow the voting instructions provided in the meeting materials. The deadline for the receipt of proxies is 5:00 p.m. (Eastern time) on January 22, 2020.

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

For more information, please contact:

Simon Nyilassy, President and Chief Executive Officer
CHC Student Housing Corp.
Telephone: (416) 504-9380
Email: snyilassy@marigoldandassociates.com

Ron Schwarz, Chair
CHC Student Housing Corp.
Telephone: (416) 593-7085‎

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51272