CHC Realty Capital Corp. Announces Third Quarter Unaudited Financial Statements

11/24/2014 21:06 EST

TORONTO, ONTARIO--(Marketwired - Nov. 24, 2014) - CHC Realty Capital Corp. ("CHC" or the "Company") (TSX VENTURE:CHC) is pleased to announce that it has filed its unaudited financial statements and related management's discussion and analysis ("MD&A") for the three and nine months ended September 30, 2014. The financial statements and MD&A are available under CHC's profile on SEDAR at www.sedar.com.

Quarterly Highlights

"The third quarter was a busy one for the company as we continued to work on increasing CHC's bed count and laying the foundation to grow the company further," said Mark Hansen, President and CEO of CHC.

Highlights of developments during the quarter include:

  • Completion of a private placement of subscription receipts for gross proceeds of $7,522,976 to be used for acquiring properties in Windsor, Ontario and Trois-Rivières, Québec.
  • Completion of the acquisition of the property in Windsor, Ontario, which has 117 beds and resulted in a 650% increase in the Company's bed count (to a total of 135 beds). The Company entered into a new mortgage on the property for $4,000,000 for a 5-year term at a fixed rate of 3.47%.
  • Announcement of the acquisition of the property in Trois-Rivières, Québec.
  • Refinancing of the mortgage on the Company's property in Kingston, Ontario, which reduced the interest rate from 4.62% to 4.1% and reduced the equity in the property by almost $300,000.
  • Reorganization of the Company's Board of Directors with the election of Gordon Pridham, Louis Forbes, Philip Gillin, Ronald Schwarz and Craig Smith as the directors of the Company.

Subsequent Developments

Highlights of developments subsequent to quarter end and to the date of this release include:

  • Completion of the acquisition of the property in Trois-Rivières, Québec, which has 310 beds and resulted in a 229% increase in the Company's bed count (to a total of 445 beds).
  • Completion of a private placement of units for gross proceeds of $8,261,540 to be used for acquiring a property in London, Ontario.
  • Completion of the acquisition of the property in London, Ontario, which has 368 beds and resulted in an 82% increase in the Company's bed count (to a total of 813 beds). The Company entered into mortgage debt of more than $49.0 million to complete the acquisition.

About CHC Realty Capital Corp.

CHC Realty Capital Corp. is an owner and operator of student housing properties which is focused on acquiring high quality properties in close proximity to universities and colleges in primary and well understood secondary markets in Canada.

Cautions Regarding Future Plans and Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the completion of the proposed transaction and the business strategies of CHC. 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 CHC 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 factors, including, but not limited to: CHC's ability to complete proposed or contemplated transactions; the state of the real estate sector generally; recent market volatility; CHC's ability to secure the necessary financing or to be fully able to implement its business strategies; and other risks and factors that CHC is unaware of at this time. The reader is referred to CHC's continuous disclosure documents for a more complete discussion of risk factors relating to CHC and their potential effects, copies of which may be accessed through CHC's profile on SEDAR at www.sedar.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there by any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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
CHC Realty Capital Corp.
Telephone: (647) 288-9355
Email: mhansen@chcrealty.ca

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


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