CHC.H CHC Student Housing Corp

Chesstown Capital Inc. ("Chesstown") (TSX VENTURE: CHC.H), a capital pool company, has received conditional approval from the TSX Venture Exchange (the "Exchange") for its proposed qualifying transaction previously announced on January 26, 2011 (the "Transaction") and plans to have its Filing Statement on SEDAR shortly. The scheduled closing date of the Transaction is on or around April 20, 2011.

Information for Investors

This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Chesstown cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Chesstown currently foresees. Discussion of the various factors that may affect future results is contained in Chesstown's recent filings, available on SEDAR.

"Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative."

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contacts: Chesstown Capital Inc. Brian Crawford CEO 905-681-1925 bcrawford@brantcapital.ca