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Lakeview Hotel Investment : Update on Timing of Annual Filings

06/15/2020 | 07:19pm

WINNIPEG, MB, June 15, 2020 /CNW/ - Lakeview Hotel Investment Corp. (TSXV: LHR) (the "Corporation" or "Lakeview") announced today that the filing of the Corporation's annual audited financial statements and accompanying management's discussion and analysis for the year ended December 31, 2019 (the "Annual Filings") with Canadian securities regulators will likely be delayed until after the extended filing deadline of June 15, 2020.

As previously disclosed on April 29, 2020, the Corporation is relying on to Manitoba Securities Commission Blanket Order 52-502 – Temporary Exemption from Certain Corporate Finance Requirements ("MB 52-502") to postpone the filing of the Annual Filings due to the outbreak of the novel coronavirus. The Manitoba Securities Commission (the "MSC") and other securities regulatory authorities in Canada have granted coordinated blanket exemptions allowing issuers and additional 45-day period to complete their regulatory filings that were otherwise due during the period from March 23, 2020 to June 1, 2020.

The Corporation anticipates filing the Annual Filings on or before June 19, 2020. Failure to file the Annual Filings by June 15, 2020 may result in the MSC taking action against the Corporation, including, but not limited to, the issuance of a cease trade order ("CTO") against Lakeview. If a CTO is issued, the Corporation expects the CTO to affect trading in all securities of the Corporation by securityholders of the Corporation, to apply in each jurisdiction in Canada in which the Corporation is a reporting issuer and to remain in effect until such time as the Corporation has made the Annual Filings.

Other than disclosed in the Corporation's press releases, there have been no material business developments since April 29, 2020, when the Corporation filed its first press release in connection with relying on MB 52-502.

About the Corporation

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

© Canada Newswire, source Canada Newswire English

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