Leisure Canada Granted Extension of Surface Rights in Havana

Leisure Canada Inc. announced the signing of surface extension rights for the Company´s Monte Barreto property in Havana. The extension letter was recently signed by Carlos Lage Davila, Vice-President of Council of the State of the Republic of Cuba.

The Development Agreement between the Company and the Republic of Cuba establishes deadlines for the completion of a number of preliminary tasks. With the extension now confirmed, the Company is able to proceed towards the Design Development phase and ultimately the Groundbreaking work on the property.

Guy Chartier, president and CEO of Leisure Canada notes that "with this added element of security, we can now move forward at our Havana property with the highest level of confidence. We echo the enthusiasm of our Cuban partners."

Located in the heart of Havana´s affluent business district, the 400,000 square foot Monte Barreto project is the last significant piece of undeveloped waterfront property in the Cuban capital. Phase One of the 800-room Monte Barreto five-star all-suites hotel will be built to capitalize on increasing business travel to Cuba as well as high-end tourism to Havana.

The Company currently has the rights to develop 4,200 hotels rooms, timeshare condominiums and two PGA-rated championship golf courses in Cuba.