Temple Hotels Inc. Announces Insider Participation in Recently Completed Rights Offering

MISSISSAUGA, ON, April 10, 2019 /CNW/ - Temple Hotels Inc. ("Temple") (TSX: TPH) is pleased to announce additional information regarding the participation of the insiders of Temple in the rights offering (the "Rights Offering") of Temple that closed on April 4, 2019.

Pursuant to the basic subscription privilege under the Rights Offering, 17,656,200 common shares of Temple ("Common Shares") were distributed at a price of $1.75 per Common Share. Of these Common Shares, 14,685,907 were distributed to persons who were insiders of Temple before the distributions under the Rights Offering or became insiders of Temple as a result of the distributions under the Rights Offering and 2,970,293 Common Shares were issued to the remaining subscribers under the basic subscription privilege.

Pursuant to the additional subscription privilege under the Rights Offering, 7,366,129 Common Shares were distributed. Of those Common Shares, 6,359,795 were distributed to persons who were insiders of Temple before the distributions under the Rights Offering or became insiders of Temple as a result of the distributions under the Rights Offering and 1,006,334 Common Shares were issued to the remaining subscribers under the additional subscription privilege.

About Temple Hotels Inc.

Temple is a hotel investment company with properties located across Canada. Temple is listed on the Toronto Stock Exchange under the symbol TPH (common shares).  The primary long-term investment objectives of Temple are to yield stable and growing cash flows and to maximize the long-term share value of Temple through the active management of its assets, accretive acquisitions, and the performance of value added capital improvement programs on selected properties, as deemed appropriate. For further information on Temple, please visit our website at www.templehotels.ca.

SOURCE Temple Hotels Inc.