HHT Investments Inc.

July 10, 2013 09:22 ET

HHT Investments Inc.: News Release

TORONTO, ONTARIO--(Marketwired - July 10, 2013) - HHT Investments Inc. (TSXV: HHT.P) (the "Corporation") is pleased to announce that it has completed an initial public offering in British Columbia, Alberta and Ontario of 20,000,500 common shares at a price of $0.10 per share for gross proceeds of $2,000,050 (the "Offering"). Following the closing of the Offering, a total of 30,000,500 common shares of the Corporation are issued and outstanding, of which 10,705,000 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the "Exchange").

The current directors and officers of the Corporation are Scott Hayes, Chief Executive Officer and a Director, Heidi Tibben, Chief Financial Officer and Secretary, Mark Hogan, Director and Wayne Egan, Director. Scott Hayes purchased 400,000 common shares under the Offering, Mark Hogan purchased 200,000 common shares under the Offering and Heidi Tibben purchased 105,000 common shares under the Offering, all of which will be held in escrow pursuant to the policies of the Exchange.

The net proceeds of the Offering, together with the proceeds from prior sales of common shares of the Corporation will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the capital pool company program of the Exchange. The Corporation currently intends to pursue a Qualifying Transaction through the acquisition of real property and the reorganization into a real estate investment trust by way of a plan of arrangement.

GMP Securities L.P. acted as agent (the "Agent") for the Offering. In connection with the Offering, the Corporation granted to the Agent non-transferable warrants to acquire up to an aggregate of 1,600,040 common shares at a price of $0.10 per share (the "Agent's Warrants"). The Agent's Warrants may be exercised any time prior to the date that is 24 months following the date that the common shares are listed on the Exchange. The Agent also received a cash commission equal to 8% of the aggregate gross proceeds from the sale of the common shares.

At the closing of the Offering, the Corporation also granted stock options to the directors and officers exercisable to acquire up to an aggregate of 3,000,000 common shares. The options may be exercised prior to July 9, 2018 at a price of $0.10 per share.

It is anticipated that the common shares of the Corporation will commence trading on the Exchange on or about July 11, 2013 under the stock symbol "HHT.P".

For further information please see the Prospectus of the Corporation dated June 20, 2013 filed on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • HHT Investments Inc.
    Scott Hayes
    Chief Executive Officer
    (647) 795-8629