MISSISSAUGA, ON, Dec. 21, 2016 /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 December 14, 2016.

Pursuant to the basic subscription privilege under the Rights Offering, 45,207,688 common shares of Temple ("Common Shares") were distributed at a price of $0.6769 per Common Share. Of these Common Shares, 31,109,168 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 14,098,520 Common Shares were issued to the remaining subscribers under the basic subscription privilege.

Pursuant to the additional subscription privilege under the Rights Offering, 28,658,467 Common Shares were distributed. Of those Common Shares, 25,852,073 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 2,806,394 Common Shares were issued to the remaining subscribers under the additional subscription privilege.

ABOUT TEMPLE

Temple is a real estate investment company listed on the TSX under the symbols TPH (common shares), TPH.DB.C, TPH.DB.D, TPH.DB.E and TPH.DB.F (convertible debentures).  Temple invests in hotel properties and assets across Canada, wholly-owning a portfolio of 29 hotel properties, comprising 3,870 rooms, and participating in 50% of the earnings from two additional hotels, comprising 299 rooms.  For further information on Temple, please visit our website at www.templehotels.ca.

SOURCE Temple Hotels Inc.