WINNIPEG, May 8, 2013 /CNW/ - Temple Hotels Inc. ("Temple") (TSX: TPH)
announces that it has closed its previously announced 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.
The Common Shares issued pursuant to the Private Placement are subject
to a four-month hold period 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 paid eligible
persons a finder's fee of 3% of gross proceeds.
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
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: email@example.com