By Devika Patel
Knoxville, Tenn., March 12 - Leisure Canada Inc. announced a C$1 million partially brokered private placement of units.
The company will sell 10 million units at C$0.10 per unit. Each unit consists of one class A common share and a half-share warrant, with each whole warrant exercisable at C$0.15 for two years.
Proceeds will be used to fund the company's operations for 2009.
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 common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Partially brokered
|
| Pricing date: | March 12
|
| Stock symbol: | TSX Venture: LCN
|
| Stock price: | C$0.12 at close March 11
|
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