CHC Student Housing Corp. announce that it has determined to proceed with its previously announced special distribution to the holders (the "Shareholders") of the Company's common shares (the "Common Shares"). The Distribution will be paid as a return of capital in the amount of $0.30 per Common Share, payable in cash on August 5, 2020 to Shareholders of record as of close of business on July 28, 2020. In connection with the payment of the Distribution, CHC will reduce the stated capital of its Common Shares by $0.30 per Common Share to permit the Company to pay the Distribution to the Shareholders as a return of capital in the amount of $0.30 per Common Share, for a total special distribution of $814,939.50. Shareholder approval for the reduction in stated capital was obtained by the Company at the annual and special meeting of Shareholders held on January 24, 2020.