Morguard Corporation Early Warning Press Release regarding Temple Hotels Inc.

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[{"type":"text","content":"\n\n\n\nMorguard Corporation Early Warning Press Release regarding Temple Hotels Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, April 9, 2019\n\n\n\nMISSISSAUGA, ON, April 9, 2019 /CNW/ - Morguard Corporation (TSX: MRC) (\"Morguard\") announced today that on April 4, 2019 it acquired 21,045,702 common shares (the \"Common Shares\") of Temple Hotels Inc. (\"Temple Hotels\") in connection with Temple Hotels' previously announced rights offering (the \"Rights Offering\"), as described in Temple Hotels' Rights Offering Circular dated February 27, 2019.\nEach of the Common Shares were acquired at an issue price of $1.75 per share or total subscription price of $36,829,978.50 for the aggregate 21,045,702 Common Shares. The Common Shares acquired by Morguard represent approximately 42.05% of the issued and outstanding Common Shares of Temple Hotels on April 4, 2019.\nAfter the completion of the Rights Offering, Morguard owns 35,731,609 Common Shares of Temple Hotels, representing approximately 71.40% of the issued and outstanding Common Shares. Prior to the acquisition of 21,045,702 Common Shares on April 4, 2019, Morguard held 14,685,907 Common Shares of Temple Hotels, representing approximately 58.69% of the issued and outstanding Common Shares.\nThe Common Shares were acquired for investment purposes. Morguard and its affiliates may, from time to time, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of Temple Hotels through market transactions, private agreements or otherwise.\nThis press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the Company's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Beverley Flynn at Morguard Corporation, 55 City Centre Drive, Suite 1000, Mississauga, Ontario L5B 1M3. The head of...

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