By Laura Lutz
Des Moines, Jan. 10 - Leisure Canada Inc. closed a private placement of units for C$1.7 million.
The company sold 6.8 million units of one class A share and one half-share non-transferable warrant at C$0.25 per unit. Each full warrant is exercisable at C$0.35 for five years.
The deal was non-brokered.
Proceeds will be used to fund the company's operating capital commitments in Cuba for 2007.
Based in Vancouver, B.C., Leisure Canada owns hotels and other real estate in Cuba.
| Issuer: | Leisure Canada Inc.
|
| Issue: | Units of one class A share and one half-share warrant
|
| Amount: | C$1.7 million
|
| Units: | 6.8 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 22
|
| Settlement date: | Jan. 10
|
| Stock symbol: | TSX Venture: LCN
|
| Stock price: | C$0.36 at close Jan. 10
|
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