Lakeview Hotel REIT announces issuance of warrants in connection with the previously announced extension of the 6.5% Class C Co
22 Febbraio 2012 - 5:53PM
PR Newswire (Canada)
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S NEWS WIRE SERVICES/ WINNIPEG, Feb. 23, 2012 /CNW/ - Lakeview
Hotel Real Estate Investment Trust ("Lakeview REIT" or the "Trust")
announced today that it is issuing 125,184 trust unit purchase
warrants of the Trust to Burgeonvest Bick Securities Limited who
acted as soliciting dealer (the "Soliciting Dealer") for the Trust
in connection with the meeting (the "Meeting") of the holders (the
"Debentureholders") of 6.5% Series C Convertible Redeemable
Subordinated Debentures (the "Debentures") held on February 22,
2012. As previously announced and as disclosed in the management
information circular related to the Meeting (the "Circular"), for
its services the Soliciting Dealer will be receiving a fee for
acting as soliciting dealer, in part through cash and in part
through an in-kind payment of amended Debentures (each a
"Compensation Debenture"), as such Debentures have been amended
pursuant to an extraordinary resolution passed at the
Meeting. Similar to the Debentureholders, on March 2, 2012,
the Soliciting Dealer will receive 384 trust unit purchase warrants
of the Trust for each Compensation Debenture to which it is
entitled (the "Soliciting Dealer Warrants"). Each Soliciting
Dealer Warrant entitles the holder thereof to purchase one trust
unit of Lakeview REIT at an exercise price of $0.65 until March 2,
2017 when the Warrants will expire. The Soliciting Dealer
Warrants will not be listed for trading on the TSX Venture Exchange
or any other exchange. Lakeview REIT is a real estate investment
trust, which is listed on the TSX Venture Exchange under the symbol
"LHR.UN". Lakeview REIT receives income from ownership,
management and licensing of hotel properties. For further
information on Lakeview REIT please visit our website
www.lakeviewreit.com. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Lakeview Hotel Real
Estate Investment Trust CONTACT: Keith Levit, President, or Avrum
Senensky, Executive VicePresidentTel: (204) 947-1161, Fax: (204)
957-1697,Email asenensky@lakeviewhotels.com
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