http://havanajournal.com/business/entry/leisure-canada-monte-barreto-projects-move-forward-with-surface-rights-0067/

HavanaJournal.com: Cuba Business

Leisure Canada’s Monte Barreto projects moves forward with surface rights

Posted April 18, 2007 by publisher in Cuba Business.
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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

Mimy Fernandez-Maldonado
Corporate Secretary

For further information: JJ Jennex, Investor Relations Director - (604) 990-9599, email: .(JavaScript must be enabled to view this email address)

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

Member Comments

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On December 28, 2007, publisher wrote:

Leisure Canada gets $20million investment from Dubai Profile Group.

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On November 07, 2009, publisher wrote:

Update March 8, 2009

Rider Levett Bucknall (Caribbean) Limited - a Cayman Islands company, has been chosen to provide due diligence services on the development of the Monte Barreto Resort in Miramar, Havana, Cuba.

The company was appointed by a Dubai-based investor to monitor on its behalf the project, which will be built by the international French contractor, Bouyges in a joint venture with a Cuban partner.

With a price tag of US$100 million, the 238 Suite Monte Barreto Resort will include a hotel, a shopping and apartment complex, and additional office space as well as underground parking for 530 cars.

Martyn Bould, Chairman of Rider Levett Bucknall (Caribbean) Limited, envisions a greater relationship between the US and Cuba in the near future, and feels this view is shared by many Cubans and international investors alike.

Bould Consulting Limited is a Cayman based property consultancy and is a shareholder in Rider Levett Bucknall (Caribbean).

Additionally, Rider Levett Bucknall (Caribbean) Limited has recently been appointed as Project Manager on the Jalousie Enclave, located between the two pitons in St. Lucia. The firm has also completed project management services on the new cruise ship dock in St. Maarten.

artist rendering of Monte Barreto