TORONTO, ONTARIO–(Marketwired – April 11, 2017) – CHC Student Housing Corp. (“CHC” or the “Company”) (TSX VENTURE:CHC) announces its board of directors has initiated a process to identify, examine and consider strategic and financial alternatives potentially available to the Company with a view to enhancing shareholder value. Such alternatives may include, but are not limited to, a sale of the Company or all or a portion of its assets, a merger or other business combination, a recapitalization or any combination thereof. The board of directors has established a special committee comprised of Gordon Pridham and Ronald Schwarz, each an independent director of the Company, to oversee the process. The board of directors and management are committed to acting in the best interests of the Company and its stakeholders.
While the Company has initiated this process, there is no certainty that any alternative or transaction will be undertaken or pursued. The Company has not set a definitive schedule to complete its evaluation and no decision on any particular alternative or transaction has been reached at this time. The Company does not intend to disclose ongoing developments with respect to this process, but in accordance with its continuous disclosure obligations, will disclose material developments if, as and when they occur.
About CHC Student Housing Corp.
CHC Student Housing Corp. is an owner and operator of student housing properties which is focused on high quality properties in close proximity to universities in primary and well understood secondary markets in Canada.
Forward-Looking Statements
Certain statements in this news release may constitute “forward-looking” statements regarding CHC and its business, which may include, but are not limited to any strategic alternatives potentially available to the Company. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Persons reading this news release are cautioned that such information may not be appropriate for other purposes. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future events or results, and will not necessarily be accurate indications of whether or not such events or results will be achieved. Actual events or results could differ materially from those contemplated in forward-looking statements as a result of risks and uncertainties relating to the ability to identify any strategic or financing alternatives. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual events or results to differ materially from those in the forward-looking statements. CHC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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.
Mark Hansen
President and Chief Executive Officer
(647) 288-9355
mhansen@chcrealty.ca