DALLAS and TORONTO, May 28,
2020 /CNW/ -- NexPoint Hospitality Trust ("NHT")
(TSX-V: NHT.U) announced today that it will be relying on Ontario
Instrument 51-502 – Temporary Exemption from Certain Corporate
Finance Requirements in respect of its obligation to file its
interim financial statements for the first quarter of 2020 required
by subsection 4.4 of National Instrument 51-102 – Continuous
Disclosure Obligations ("NI 51-102") and its interim
management's discussion and analysis required by subsection 5.1(2)
of NI 51-102. NHT's management expects that the first quarter 2020
financial results and management's discussion and analysis will be
filed on or about July 13,
2020. NHT's management and other insiders are subject to an
insider trading black-out policy that reflects the principles in
section 9 of National Policy 11-207 – Failure-to-File Cease
Trade Orders and Revocations in Multiple Jurisdictions.
NHT is also postponing the filing of its executive compensation
disclosure until a date on or before December 31, 2020 in reliance on the exemption
under Ontario Instrument 51-504 – Temporary Exemptions from
Certain Requirements to File or Send Securityholder Materials,
which instrument became effective as of May
1, 2020.
Since the filing of NHT's annual financial statements on
May 26, 2020, there have not been any
material developments.
About NexPoint Hospitality Trust
NexPoint Hospitality Trust is a publicly traded real estate
investment trust, with its units listed on the TSX Venture Exchange
under the ticker NHT.U. NHT is focused on acquiring, owning and
operating well located hospitality properties in the United States that offer a high current
yield and in many cases, that are underperforming assets with the
potential to increase in value through investments in capital
improvements, a market-based recovery, brand repositioning, revenue
enhancements, operational improvements, reducing expense
inefficiencies, and exploiting excess land or underutilized space.
NHT owns 11 branded properties sponsored by Marriott, Hilton and
InterContinental Hotels Group, located across the U.S.,
specifically in the Seattle,
Portland, Dallas, Nashville and St.
Petersburg markets. NHT is externally advised by NexPoint
Real Estate Advisors VI, L.P. For more information, visit
www.nexpointhospitality.com.
Cautionary Statement Regarding Forward-Looking
Information
Certain statements in this press release may constitute
"forward-looking" information that involves known and unknown
risks, uncertainties and other factors, and it may cause actual
results, performance or achievements or industry results, to be
materially different from any future results, performance or
achievements or industry results expressed or implied by such
forward-looking information. Forward-looking information is
identified by the use of terms and phrases such as "anticipate",
"believe", "could", "estimate", "expect", "intend", "may", "plan",
"predict", "project", "will", "would", and similar terms and
phrases, including references to assumptions.
Forward-looking information contained in this press release is
based on certain key expectations and assumptions by NHT. Although
the forward-looking information contained in this press release is
based upon what NHT's management believes to be reasonable
assumptions, NHT cannot assure investors that actual results will
be consistent with such information. Forward-looking information
reflects current expectations of management regarding future events
and operating performance as of the date of this press release.
Such information involves significant risks and uncertainties,
should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause
actual results to differ materially from the results discussed in
the forward-looking information, and a description of these factors
can be found under "Risk Factors" in NHT's final prospectus dated
March 27, 2019, Management's
Discussion and Analysis dated May 26,
2020, and base shelf prospectus dated November 15, 2019, which are available on SEDAR
(www.sedar.com).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contact:
Investor Relations
Jackie Graham
972-628-4024
jgraham@nexpointadvisors.com
Chief Financial Officer
Brian Mitts
972-419-2556
BMitts@nexpointadvisors.com
Media Inquiries
MediaRelations@nexpointadvisors.com
SOURCE NexPoint Hospitality Trust