Press Release from Leisure Canada
Leisure Canada Inc. (the “Company”), a premier real-estate developer in Cuba, announces today that it has received a legal opinion letter from a recognized local firm, Consultoria Juridica International, confirming the execution of the surface rights on the 34,000 m2 ocean-front property of its Monte Barreto all-suite resort project in the Miramar section of Havana. This will allow the Company to proceed with the Joint Venture Board and Shareholders meeting in early May to authorize the outlay of resources leading to a groundbreaking of the 238-room Phase One by end of 2007.
The all-suites Monte Barreto resort complex represents one of the most important and strategic hotel projects in development in Cuba today. With a planned 800-room hotel accompanying significant convention and retail space, Monte Barreto will stand as Cuba’s foremost luxury hotel catering to the world’s most sophisticated traveler.
ON BEHALF OF THE BOARD
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
TSX Venture Exchange Symbol: LCN