IHT EQUITY INCREASES BY KEY INDIVIDUALS
Phoenix, AZ, Dec. 30, 2022 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) Quarterly and Monthly results, to be released in the coming weeks, continue to bode well for InnSuites. As part of maintaining NYSE American Equity requirements, key IHT Personnel continue to increase their IHT Beneficial Ownership Interest. The Trust President/Chairman/CEO James Wirth has recently purchased an additional 5,000 shares of stock within the Open Trading Window for the Trust.
Additionally, Rare Earth Financial, LLC has purchased 43,478 Shares of InnSuites Common Stock, at a closing market price on December 29, 2022, of $1.61, which will provide the additional required Equity for the Trust, increasing the Total Equity to exceed $4 Million.
James Wirth, President, and Chairman of IHT, holds an 80% Interest in Family Investment Company Rare Earth Financial, LLC (REF). REF has invested $70,000 in newly issued IHT common stock equity, on December 29, 2022, based on the closing market price of IHT Stock at $1.61, on the date of issue, as disclosed in the Purchase Agreement.
Both purchases have been, or shortly will be, officially filed on SEC Form 4, Statement of Changes in Beneficial Ownership, accordingly.
Fiscal Year 2022 extended IHT’s uninterrupted, continuous annual dividends to over 50 years, since 1971, with semi-annual dividends paid January 31, 2022, and July 31, 2022. The next semi-annual dividend is tentatively scheduled to be paid on or about February 3, 2023.
For more information, visit www.innsuitestrust.com and www.innsuites.com, or visit www.sec.gov for the complete Fiscal Year 2022 Annual 10-K Report, results, and Press Release with additional information.
With the exception of historical information, matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.
FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
INNSUITES HOTEL CENTRE
1730 E. NORTHERN AVENUE, #122
Phoenix, Arizona 85020