Midland Sells its Minority Interest in Holloway Lodging
TORONTO, June 19, 2014 /CNW/ - 1898191 Ontario Limited ("Midland") announced today that it has sold all of its 6,231,194 common shares of Holloway Lodging Corporation ("Holloway") (TSX: HLC). The Holloway shares, which were originally acquired by Midland in June 2013, were sold at a price of $4.50 per share. Midland is a subsidiary of Midland Resources Holding Limited, which is beneficially owned by Mr. Alex Shnaider and his family.
Additionally, Mr. Neil Labatte, who had previously been acting jointly or in concert (within the meaning of applicable Canadian securities legislation) with Midland, has sold all of his 113,485 common shares of Holloway at a price of $4.50 per share. Concurrent with the sales, Mr. Labatte and Blake Lyon resigned as directors of Holloway.
SOURCE Midland Resources Holding LimitedFor further information: about the transactions can be obtained by contacting Neil Labatte at (647) 428-7073.