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WINNIPEG, June 26, 2014 /CNW/ - Lakeview Hotel Investment Corp ("LHIC") is pleased to announce that it entered into a binding commitment agreement with its existing lender to refinance all first mortgage loans on thirteen properties in Alberta and British Columbia. Such commitment agreement is conditional upon a number of conditions including the entering into of definitive agreements, the absence of material changes and completing the refinancing by July 15, 2014.
The credit facility will be for a two year term and would provide for comparable debt service payments to the payments that are currently being made by LHIC. The financing is scheduled to close on July 15, 2014.
Lakeview Hotel Investment Corp is listed on the TSX Venture Exchange under the symbol "LHR". Lakeview Hotel Investment Corp receives income from ownership, management and licensing of hotel properties.
The TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Lakeview Hotel Investment Corp
For further information: Keith Levit, President, or Avrum Senensky, Executive Vice President, Tel: (204) 947-1161, Fax: (204) 957-1697, Email firstname.lastname@example.org