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 OTCQX requirements.
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.
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