WINNIPEG, Nov. 4, 2013 /CNW/ - Temple Hotels Inc. ("Temple") (TSX: TPH) announced today that on November 1, 2013 a final short form base shelf prospectus (the "Base Shelf Prospectus") was filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than the Province of Quebec (the "Qualifying Jurisdictions").
The Base Shelf Prospectus allows Temple to offer common shares, subscription receipts, warrants and debt securities (collectively, the "Securities"), or any combination thereof, up to an aggregate offering price of $200 million during the 25-month period that the Base Shelf Prospectus remains effective. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying prospectus supplement filed with securities regulatory authorities in the Qualifying Jurisdictions and delivered with the Base Shelf Prospectus to purchasers of Securities. Among other potential uses, Temple may use the net proceeds from the sale of Securities to fund the purchase of hotel properties or entities which own and operate hotel properties and/or other permitted investments; to repay indebtedness outstanding from time to time; to fund capital expenditures; and/or for other general corporate purposes.
Temple has filed the Base Shelf Prospectus to maintain financial flexibility and to have the ability to offer the Securities on an accelerated basis pursuant to prospectus supplements filed over the 25-month time frame. There is no certainty that any Securities will be offered or sold under the Base Shelf Prospectus within the 25-month period.
Temple is a real estate investment company listed on the Toronto Stock Exchange under the symbols TPH (common 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.
This press release contains certain statements regarding the proposed transaction described herein that could be considered as forward-looking information. The forward-looking information is subject to certain risks and uncertainties, which could result in actual results differing materially from the forward-looking statements. There can be no certainty that the transaction will be completed within the timeline set forth herein or all at.
The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Temple Hotels Inc.
For further information:
Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Executive Vice President
Tel: (204) 475-9090, Fax: (204) 452-5505, Email: [email protected]