CHC Student Housing Corp. announces that it has entered into one year term loans with a group of lenders in a minimum amount of $675,000 and up to $750,000. Pursuant to the loan terms, the amounts advanced will be subordinated secured obligations of the company. The company will use the proceeds from the loans for working capital purposes. The loans bear interest at a rate of 8% per annum payable quarterly in arrears and have a maturity date of the earlier of one year or the closing of any equity or debt financing or property sales. The loans will be evidenced by subordinate secured debentures with security over all of the Company's student housing properties, subordinate to existing mortgage charges currently registered against the properties.