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Royal Host Inc.
Acquisition by Plan of Arrangement

We acted as counsel to the Special Committee of Royal Host in connection with the acquisition of Royal Host by Holloway Lodging Corporation by plan of arrangement. As consideration for royal Host’s shares, Holloway paid a total of $16.4 million in cash and issued 1,637,967 common shares. The acquisition of Royal Host allowed Holloway to acquire 17 additional hotels across Canada as well as the Canadian master franchise rights to the Travelodge and Thriftlodge hotel brands.