VANCOUVER, July 22, 2013 /CNW/ - American Hotel Income Properties REIT
LP ("AHIP") (Toronto Stock Exchange: HOT.UN; OTCQX: AHOTF) announced
today that its Limited Partnership Units have been approved for trading
in the United States on the OTCQX International marketplace ("OTCQX").
AHIP will trade under the symbol "AHOTF".
AHIP will continue to trade on the Toronto Stock Exchange under its
existing symbol "HOT.UN".
"We are pleased to have received approval to have our Limited
Partnership Units traded on the OTCQX. The U.S. listing provides access
to a transparent financial marketplace that will provide more exposure
and accessibility for AHIP in the United States," commented Robert
O'Neill, Chief Executive Officer.
"We are pleased to welcome American Hotel Income Properties REIT LP to
OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets
Group. "OTCQX provides qualifying companies like American Hotel Income
Properties REIT LP the ability to distinguish themselves in the U.S.
market and increase their visibility with traders, investors, analysts
and the media through high-quality disclosure, transparent trading and
ease of access to company information. We look forward to supporting
the management team at American Hotel Income Properties REIT LP as they
continue to grow the company and provide a robust public market for
their Limited Partnership Units."
AHIP began trading today on OTCQX International, a segment of the OTCQX
marketplace reserved for high-quality non-U.S. companies that are
listed on a qualified international exchange, undergo management
reviews and provide their home country disclosure to U.S. investors.
U.S. investors can find current financial disclosures and Real-Time
Level 2 quotes for the company on www.otcmarkets.com.
Dorsey & Whitney LLP will serve as AHIP's Principal American Liaison
("PAL") on OTCQX, responsible for providing professional guidance on
This news release contains forward-looking information within the
meaning of applicable securities legislation, which reflects AHIP's
current expectations regarding future events. Forward-looking
information is identified by the use of terms and phrases such as
"anticipate", "believe", "could", "estimate", "expect", "intend",
"may", "plan", "predict", "project", "will", "would" and similar terms
and phrases and includes, but is not limited to, the amount of the
expected monthly cash distributions and annual yield for the Units and
the timing to pay the first cash distribution to unitholders,
Forward-looking information is based on a number of assumptions and is
subject to a number of risks and uncertainties, many of which are
beyond AHIP's control, that could cause actual results and events to
differ materially from those that are disclosed in, or implied by, such
forward-looking information. Such assumptions include, but are not
limited to, a reasonably stable North American economy and stock
market. Such risks and uncertainties include, but are not limited to,
the factors discussed under "Risk Factors" in AHIP`s Management's
Discussion and Analysis dated March 28, 2013. The forward-looking
information contained herein is made as of the date of this news
release and, except as expressly required by applicable law, AHIP
assumes no obligation to publicly update or revise such information,
About American Hotel Income Properties REIT LP
AHIP is a limited partnership formed under the Limited Partnership Act
(Ontario) to invest in hotel real estate properties located
substantially in the United States and engaged primarily in the
railroad employee accommodation, transportation, and contract-focused
lodging sectors. AHIP's long-term objectives are to: (i) generate
stable and growing cash distributions from hotel properties
substantially in the US; (ii) enhance the value of its assets and
maximize the long-term value of the hotel properties through active
management; and (iii) expand its asset base and increase its Adjusted
Funds From Operations ("AFFO") per Unit through an accretive
acquisition program, participation in strategic development
opportunities and improvements to its properties through targeted
value-added capital expenditure programs.
Additional information relating to AHIP, including its other public
filings, is available on SEDAR at www.sedar.com and on AHIP's website at www.ahipreit.com.
SOURCE: American Hotel Income Properties REIT LP
For further information:
Andrew Greig, Investor Relations
American Hotel Income Properties REIT LP
Suite 1660, 401 West Georgia Street
Vancouver, BC V6B 5A1