DALLAS and TORONTO, Nov. 28,
2023 /CNW/ -- NexPoint Hospitality Trust
("NHT" or the "REIT") (TSX-V: NHT.U) announced today
that Frazier & Deeter, LLC ("F&D") resigned as
auditor of NHT, effective November 27,
2023. F&D's resignation resulted from a position taken
by CPA Ontario that, under certain circumstances, foreign
accounting firms and their partners may be considered to be
engaging in public accounting work in Ontario as a result of performing audits of
Ontario reporting issuers thereby
triggering a requirement to be licenced by CPA Ontario. The REIT
has commenced a process to engage a successor auditor for the 2023
fiscal year.
In accordance with National Instrument 51-102 – Continuous
Disclosure Obligations ("NI 51-102"), the REIT will file
a Notice of Change of Auditor within 14 days of the date of
resignation. To the REIT's knowledge, there were no "reportable
events", "disagreements" or "unresolved issues" as such terms are
defined in NI 51-102, between the REIT and F&D.
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 principally focused on acquiring,
owning and operating well-located hospitality properties in
the United States that offer a
high current yield and in many cases 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, expense
inefficiencies, and exploiting excess land or underutilized space.
NHT owns 9 branded properties sponsored by Marriott, Hilton, Hyatt,
and Intercontinental Hotels Group, located across the U.S. NHT is
externally advised by NexPoint Real Estate Advisors VI, L.P.
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
IR@nexpoint.com
Media Inquiries
MediaRelations@nexpoint.com
1403-6535-6552
SOURCE NexPoint Hospitality Trust
