G2S2 Capital Inc. Announces Increased Investment in Temple Hotels Inc.

HALIFAX, July 2, 2019 /CNW/ - G2S2 Capital Inc. ("G2S2"), announces that it has acquired ownership of, and control over, 728,985 common shares of Temple Hotels Inc. ("Temple"), increasing G2S2's holdings to 11,811,034 common shares representing 15.73% of Temple's outstanding common shares. G2S2 is a corporation incorporated under the laws of Canada and operates as an investment holding company. G2S2 is controlled by George & Simé Armoyan. G2S2 has filed an early warning report today pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Specifically, on June 28, 2019, G2S2 acquired 728,985 common shares of Temple through the facilities of the Toronto Stock Exchange at a price of $1.75 per share (the "Acquisition").

Prior to the Acquisition, G2S2, together with joint actors, owned and exercised control over an aggregate of 11,132,049 common shares of Temple, representing 14.83% of the outstanding common shares.

Immediately after the Acquisition, G2S2, together with joint actors, owns and exercises control over an aggregate of 11,861,034 common shares of Temple, representing 15.80% of the outstanding common shares.

The shares were purchased for investment purposes. G2S2, together with joint actors, may, from time to time, acquire additional common shares or dispose of some or all of their current or additional common shares in the normal course of their investment activities.

The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Temple's issuer profile.

About G2S2

G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long term horizon. G2S2 is incorporated under the laws of Canada.

SOURCE G2S2 Capital Inc.

or to obtain a copy of the early warning report, please contact Rob Jeffery, Executive Vice President & Chief Financial Officer of G2S2 at 902-423-4000.