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TORONTO, ONTARIO--(Marketwired - May 2, 2017) - CHC Student Housing Corp. ("CHC" or the "Company") (TSX VENTURE:CHC) announces that, further to its press release dated May 1, 2017, its non-brokered private placement to raise a minimum of $600,000 and a maximum of $1,000,000 through the issuance of a minimum of 342,857 common shares and a maximum of 571,429 common shares at a price of $1.75 per share (the "Private Placement") will be limited to accredited investors. The Company had intended to first offer the Private Placement to all existing shareholders of the Company on the basis of the existing security holder prospectus exemption available in the provinces of Canada. However, the use of that exemption is no longer available given the Company's delay in filing its audited annual financial statements, management's discussion and analysis and related certifications for the fiscal year ended December 31, 2016 on or before May 1, 2017 as required under applicable securities laws. |
