Northampton Group Inc.

Northampton Group Inc.

February 03, 2011 13:37 ET

Northampton Announces Completion of Redemption of $3,000,000 of Debentures

TORONTO, ONTARIO--(Marketwire - Feb. 3, 2011) - Northampton Group Inc., (TSX VENTURE:NHG)(TSX VENTURE:NHG.DB)an integrated Canadian hotelier, announced today the completion of the redemption (announced in a press release dated 22 December 2010) of $3,000,000 of the outstanding 10% Unsecured Debentures first issued July 22, 1997 and due July 23, 2012.

The partial redemption of the 10% Unsecured Debentures was completed on January 24, 2011. For each $1,000 that was called for redemption, debenture holders received an amount of $1,030, which included a premium of 3% on the redeemed principal. The current aggregate principal amount of the 10% Unsecured Debentures outstanding is now $2,000,000.

About Northampton

Northampton Group Inc. is an integrated Canadian hotelier with ownership and management interests in 2,002 rooms in 16 hotels, with a selective strategic development program in place. Focused on creating the best return for all stakeholders, Northampton's proven, market-sensitive strategy is to acquire or build hotels that provide superior overnight accommodation in the mid-price market. Northampton has consistently excelled in this sector, offering services that exceed expectations while still posting industry- leading margins.

Neither the 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 Information

  • Northampton Group Inc.
    Vinod Patel
    President & CEO
    (905) 629-9992