MISSISSAUGA, ON, June 12, 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 June 5, 2019.

Pursuant to the basic subscription privilege under the Rights Offering, 23,842,754 common shares of Temple ("Common Shares") were distributed at a price of $1.50 per Common Share. Of these Common Shares, 21,883,185 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 1,959,569 Common Shares were issued to the remaining subscribers under the basic subscription privilege.

Pursuant to the additional subscription privilege under the Rights Offering, 1,179,575 Common Shares were distributed. Of those Common Shares, 1,070,853 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 108,722 Common Shares were issued to the remaining subscribers under the additional subscription privilege.

About Temple Hotels Inc.

Temple is a growth oriented hotel investment company with hotel properties located across Canada. Temple is listed on the Toronto Stock Exchange under the symbols 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.