BOSTON, June 5, 2014 /CNW/ - Plymouth Realty Capital Corp. ("Plymouth") (TSXV: PH.P) today announced that it has decided not to proceed with its previously announced proposed qualifying transaction to purchase a "Hampton Inn" branded hotel property located in New Jersey or the proposed acquisition of two additional "Hampton Inn" branded hotel properties located in Florida and Massachusetts.
Plymouth will continue to pursue and evaluate other businesses and assets with a view to completing a qualifying transaction and will make further announcements with respect to these efforts as soon as practically possible. Plymouth cannot offer any assurances that a qualifying transaction will be completed.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Plymouth is a capital pool company listed on the TSXV. Plymouth was established pursuant to the CPC Policy which permits an initial public offering and a TSXV listing by a newly created company that has no assets, other than cash, and has not commenced commercial operations. The principal business of Plymouth has been the identification and evaluation of assets with a view to completing a qualifying transaction.
SOURCE: Plymouth Realty Capital Corp.
For further information: please contact Jeffrey Witherell, CEO of Plymouth at (617) 340-3826.