CHC Realty Capital plans C$8 million subscription receipts placement

Non-brokered offering funds acquisitions of student housing properties

By Devika Patel

Knoxville, Tenn., July 3 – CHC Realty Capital Corp. said it will raise about C$8 million in a non-brokered private placement of subscription receipts. The deal will be conducted in connection with the company’s planned acquisitions of student housing properties in Windsor, Ont., and Trois-Rivieres, Quebec, from three different vendors.

The receipts will be sold at a price to be determined in the context of the market. Each subscription receipt will automatically convert into one common share without additional payment.

Settlement is expected July 31.

Proceeds will be used to complete the acquisitions of the student housing properties and for general corporate purposes.

The owner and operator of student housing properties is based in Toronto.

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