The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

Temple Hotels Inc. announces private placement of shares

Tuesday, May 07, 2013

Temple Hotels Inc. announces private placement of shares

17:00 EDT Tuesday, May 07, 2013

WINNIPEG, May 7, 2013 /CNW/ - Temple Hotels Inc. ("Temple") (TSX: TPH) announces that it has received subscriptions for a non-brokered private placement (the "Private Placement") of 1,448,495 common shares in the capital of the Company (the "Common Shares") with certain institutional investors at a price of $5.40 per Common Share for total gross proceeds of $7,821,873.

Closing of the Private Placement is expected to occur on or about May 8, 2013 or such other date as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX (the "Exchange"). The Common Shares issued pursuant to the Private Placement will be subject to resale restrictions imposed by applicable securities laws and the policies of the Exchange.

The Company intends to use the proceeds from the Private Placement for acquisitions and/or for general corporate purposes.

In connection with the Private Placement, the Company may pay eligible persons a finder's fee of 3% of the gross proceeds.

About Temple

Temple is a real estate investment company listed on the Toronto Stock Exchange under the symbols TPH (shares), TPH.DB.C, TPH.DB.D, TPH.DB.E and TPH.DB.F (convertible debentures). The objective of Temple is to provide shareholders with stable cash dividends from investment in a diversified portfolio of hotel properties and related assets. For further information on Temple, please visit our website at www.templehotels.ca.

The TSX has not reviewed or approved the contents of this press release and neither accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Temple Hotels Inc.

For further information:

Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Investor Relations
Tel: (204) 475-9090, Fax: (204) 452-5505, Email: info@templehotels.ca

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections