CONSOLIDATED HCI HOLDINGS CORPORATION ANNOUNCES THE COMPLETION OF THE SALE OF CERTAIN REAL PROPERTY ASSETS

WOODBRIDGE, ON, Feb. 2 /CNW/ - Consolidated HCI Holdings Corporation ("CHCI") (TSX: CXA.B) today announced the completion of the sale of its 25% co-tenancy interest in land subject to a long-term ground lease and its 25% co-tenancy interest in approximately 2.5 acres of adjacent vacant serviced land in Mississauga to an arm's length purchaser for the purchase price of $4,126,800 and the sale of its 12.55% co-tenancy interest in a leased building of  8,103 square feet, also located in Mississauga, to a related party co-tenant in the property for the purchase price of $439,250. The purchase price received by the CHCI for both transactions was paid in cash and totaled $4,545,360 after closing adjustments.

For further information:

Mr. Stanley Goldfarb, CEO
(905) 326-6800


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