TORONTO, Oct. 8, 2013 /CNW/ - On October 8, 2013, Geosam Capital Inc.
("Geosam") acquired 1,241,800 common shares of Holloway Lodging
Corporation ("Holloway") at a price of $3.80 per common share,
representing 6.9% of the outstanding common shares of Holloway.
Immediately after the transaction, Geosam owns 5,265,454 common shares
and 26,250 warrants to acquire common shares. On an as converted basis,
such securities represent an aggregate of 29.5% of the common shares.
Geosam purchased the securities through the facilities of the Toronto
Stock Exchange for investment purposes. Geosam may acquire additional
securities of Holloway, dispose of some or all of the existing or
additional securities of Holloway, or continue to hold securities of
Holloway in the normal course of Geosam's investment activities.
In purchasing the 1,241,800 common shares referred to above, Geosam
relied on the private agreement exemption from the formal take-over bid
rules set out in Section 100.1(1) of the Securities Act (Ontario). Geosam was entitled to rely on this exemption because (i)
the purchase of the 1,241,800 common shares was not made from more than
five persons, (ii) the offer to purchase was not made generally to all
holders of Holloway's common shares, and (iii) the value of the
consideration paid for the 1,241,800 common shares, including brokerage
fees or commissions, was not greater than 115% of the market price of
Holloway's common shares on the Toronto Stock Exchange on October 8,
2013 as determined in accordance with Section 1.3 of Ontario Securities
Commission Rule 62-504 - Takeover Bids and Issuer Bids.
SOURCE: Geosam Capital Inc.
For further information:
TD Canada Trust Tower
161 Bay Street, Suite 2400
P.O. Box 217, Toronto, ON, M5J 2S1 t: (416) 855-1925
f: (416) 640-1834