CHC Student Housing Corp.: CHC Announces Updates to Private Placement Toronto, Ontario--(Newsfile Corp. - December 11, 2020) - CHC Student Housing Corp. (TSXV: CHC.H) ("CHC" or the "Company") wishes to update its previously announced non-brokered private placement of 3,500,000 units ("Units") at a price of $0.10 per Unit for gross proceeds of up to $350,000 (the "Offering") that will be completed concurrently with or immediately prior to the closing of the Company's previously announced reverse take-over transaction ("RTO") with 2294253 Alberta Ltd. ("TargetCo"). Each Unit will consist of one common share ("Common Share") in the capital of the Company and one-half of one warrant ("Warrant"). Each whole warrant will be exercisable to acquire one Common Share at an exercise price of $0.20 each for a period of 12 months from the date of issuance; provided, however, that if, following the date of issuance, the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is equal to or greater than $0.20 for any 10 consecutive trading day period, CHC may, upon providing written notice to the holders of the Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such notice.