THE
WOODLANDS, Texas, May 17, 2023
/PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality,"
"Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of
vertically integrated modular accommodations and value-added
hospitality services, announced that on May
15, 2023, it executed the existing six-month contract
extension option for the expanded humanitarian community previously
announced on July 6, 2022 ("Expanded
Humanitarian Community").
As the Company previously stated, on May
9, 2023, the six-month extension option will remain through
the current contract term of November 15,
2023, with no change to contract structure or the existing
economic terms.
In preparation for the anticipated meaningful increase in demand
for humanitarian housing solutions, the exercise of the extension
option will allow for seamless continuity of service offerings at
the Expanded Humanitarian Community and serve as a bridge prior to
long term contract specifications being finalized.
About Target Hospitality
Target Hospitality is one of North
America's largest providers of vertically integrated modular
accommodations and value-added hospitality services in the United States. Target builds, owns and
operates a customized and growing network of communities for a
range of end users through a full suite of value-added solutions
including premium food service management, concierge, laundry,
logistics, security and recreational facilities services.
Cautionary Statement Regarding Forward Looking
Statements
Certain statements made in this press release are "forward
looking statements" within the meaning of the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"estimates," "projected," "expects," "anticipates," "forecasts,"
"plans," "intends," "believes," "seeks," "may," "will," "should,"
"future," "propose" and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. These
forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside our control, that could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include:
operational, economic, including inflation, political and
regulatory risks; our ability to effectively compete in the
specialty rental accommodations and hospitality services industry;
effective management of our communities; natural disasters and
other business distributions including outbreaks of epidemic or
pandemic disease; changes in demand within a number of key industry
end-markets and geographic regions; failure to retain key
personnel; increases in raw material and labor costs; our future
operating results fluctuating, failing to match performance or to
meet expectations; our exposure to various possible claims and the
potential inadequacy of our insurance; our obligations under
various laws and regulations; the effect of litigation, judgments,
orders, regulatory or customer bankruptcy proceedings on our
business; our ability to successfully acquire and integrate new
operations; global or local economic and political movements,
including any changes in policy under the Biden administration;
federal government budgeting and appropriations. We undertake
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Investor Contact
Mark Schuck
(832) 702 – 8009
ir@targethospitality.com
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SOURCE Target Hospitality