WINNIPEG, Dec. 28, 2018 /CNW/ - Lakeview Hotel Investment Corp ("LHIC") announces that it has amended its amended and restated credit agreement dated January 31, 2018 (the "ARCA") with a syndicate of lenders led by Alberta Treasury Branches and including Business Development Bank of Canada (BDC) and Roynat Capital pursuant to a First Amending Agreement to the ARCA dated December 28, 2018. The ARCA consolidated certain amendments to the credit agreement dated August 25, 2014, among other things.
Pursuant to the First Amending Agreement to the ARCA, the lenders and LHIC have agreed, among other things, that LHIC will list two of its hotel properties by January 31 2019 and have sold at least one of those hotel properties within a specified period of time, and to amend certain reporting covenants of LHIC in the ARCA. The proceeds from the sale of the hotel properties will be used to pay down indebtedness owing to the lenders pursuant to the ARCA as amended by the First Amending Agreement to the ARCA.
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: Avrum Senensky, Executive Vice President, Tel: (204) 947-1161, Fax: (204) 957-1697, Email [email protected]