Holloway Lodging Corp HLC.TO :
* HOLLOWAY LODGING CORP. ANNOUNCES SALE OF TIMMINS HOTELS
* HOLLOWAY LODGING CORP - SALE PRICE FOR HOTELS WAS $11.4 MILLION
* HOLLOWAY LODGING CORP - AS A RESULT OF REVALUATION, HOLLOWAY ANTICIPATES RECORDING A NOMINAL LOSS ON SALE RELATED TO CLOSING COSTS.
* HOLLOWAY LODGING CORP - DOES NOT ANTICIPATE PAYING TAX ON SALE OF TIMMINS HOTEL PROPERTIES.
* HOLLOWAY LODGING CORP - HOLLOWAY EXPECTS TO USE NET SALE PROCEEDS TO REDUCE AMOUNTS DRAWN UNDER ITS REVOLVING CREDIT FACILITY.