Toronto, Ontario--(Newsfile Corp. - May 11, 2020) - CHC Student Housing Corp. (TSXV: CHC) ("CHC" or the "Company") announced today that it will be delaying the filing and delivery of certain of its continuous disclosure documents, in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements of the Ontario Securities Commission (the "Exemption Order") which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posed by the COVID-19 pandemic.
The Company is relying on the Exemption Order in delaying the filing of its interim financial statements and related management discussion and analysis for the three month period ended March 31, 2020 required pursuant to National Instrument 51-102 Continuous Disclosure Obligations and related certifications of such documents required pursuant to National Instrument 52-109 Certification of Disclosure in Issuer's Annual and Interim Filings (collectively, the "Required Interim Filings") beyond the filing deadline of June 1, 2020, and compliance with the delivery requirements of applicable securities laws relating to the Required Interim Filings.
The officers and directors of the Company and certain other persons will remain subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, pursuant to which such persons are prohibited from trading in any securities of the Company until the end of the second full trading day following the day on which the Required Annual Filings are filed on SEDAR and a corresponding news release is issued by the Company.
The Company currently intends to make the Required Interim Filings by June 19, 2020.
There have been no material business developments in respect of the Company since the filing of the Company's audited annual financial statements and related management discussion and analysis for the year ended December 31, 2019 on April 29, 2020 on SEDAR ().
About CHC Student Housing Corp.
CHC Student Housing (TSXV: CHC) was previously engaged in the business of investing in multi-residential student housing properties. In February 2020, CHC sold the last of its student housing properties, transferred its stock exchange listing from the TSX Venture Exchange ("TSXV") to the NEX board of the TSXV, and is seeking out alternative business opportunities.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Forward-looking information is provided to present information about management's current expectations and plans relating to the future. 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. Such information includes, without limitation, information regarding the intended filing of the Required Interim Filings and the timing thereof. Although CHC believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking information included in this press release relates only to events or information as of the date hereof. Except as specifically required by applicable Canadian law, CHC undertakes no obligation to update any forward-looking information, whether because of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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 further information please contact:
CHC Student Housing Corp.
Simon Nyilassy
President and CEO
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