/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S
NEWS WIRE SERVICES/
WINNIPEG, Jan. 1, 2013 /CNW/ - Lakeview Hotel Investment Corp. (TSXV: LHR) (LHR.DB.C) (LHR.DB.D) and
(LHR.WT) (the "Corporation") is pleased to announce that the conversion of Lakeview Hotel Real
Estate Investment Trust (the "Trust") to a corporation named Lakeview Hotel Investment Corp. was completed
effective December 31, 2012 at 11:59 p.m. (Ottawa time), pursuant to a
plan of arrangement (the "Arrangement") under the Canada Business Corporations Act. The Arrangement was approved by, and a final order was received from,
the Manitoba Court of Queen's Bench on December 14, 2012.
The Corporation now directly and indirectly owns and operates the
businesses which were previously owned and operated by the Trust and
its subsidiaries prior to the closing of the Arrangement. The senior
management and trustees of the Trust are now the senior management and
directors of the Corporation. Pursuant to the Arrangement, holders of
trust units ("Units") of the Trust received one common share (a "Share") of the Corporation for each Unit held on the effective date. The
Corporation assumed all of the covenants and obligations of the Trust
under its outstanding debentures (the "Debentures") and entered into supplemental trust indentures with respect to the
Debentures. The Corporation assumed all of the covenants and
obligations of the Trust under its outstanding warrants (the "Warrants") and entered into a supplemental warrant indenture with respect to the
Warrants. On the exercise of Warrants, warrantholders are now entitled
to receive Shares, rather than Units, on the basis of one Share in lieu
of each Unit which the holder was previously entitled to receive.
Trading of the Shares is expected to commence on or about January 2,
2013 on the TSX Venture Exchange (the "TSXV") under the symbol "LHR", at which time the Units, trading under the
symbol "LHR.UN" will discontinue trading. The Debentures and Warrants
continue to be listed on the TSXV under the symbols "LHR.DB.C",
"LHR.DB.D" and "LHR.WT", respectively.
About the Corporation
Lakeview Hotel Investment Corp. is a corporation, which is listed on the
TSX Venture Exchange under the symbol "LHR". Lakeview Hotel Investment
Corp. receives income from ownership, management and licensing of hotel
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.
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 email@example.com