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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Lakeview Hotel Investment Corp.    LHR   CA51222P1099

LAKEVIEW HOTEL INVESTMENT CORP.

(LHR)
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Lakeview Hotel Investment : Reliance on Relief from Annual and Interim Filing Requirements Related to COVID-19

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04/29/2020 | 06:31pm EDT

WINNIPEG, April 29, 2020 /CNW/ - Lakeview Hotel Investment Corp. (TSXV: LHIC) (the "Corporation" or "Lakeview") announced today that due to the outbreak of the novel coronavirus ("COVID-19"), it will be filing its annual audited financial statements and accompanying management's discussion and analysis for the year ended December 31, 2019 (the "Annual Filings") after April 29, 2020, the required deadline set by National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102").

The Corporation is issuing this news release pursuant to Manitoba Securities Commission Blanket Order 52-502 – Temporary Exemption from Certain Corporate Finance Requirements ("MB 52-502"), which provides the Corporation with an additional 45-day period to complete its Annual Filings. Lakeview is relying on the exemption provided by MB 52-502 to postpone the filing of the Annual Filings which includes the following continuous disclosure documents:

  • Audited annual financial statements for the year ended December 31, 2019 as required by section 4.2 of NI 51-102; and

  • Management's discussion and analysis for the year ended December 31, 2019 as required by section 5.1(2) of NI 51-102.

In addition, Lakeview is relying on the exemption provided by MB 52-502 in connection with sending of an annual request form required by subsection 4.6(1) of NI 51-102 and with the delivery requirements required by subsection 4.6(3) and (5) of NI 51-102 for the financial statements, and Section 5.6(1) and (3) of NI 51-102 for the MD&A.

The Corporation's management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions until the Annual Filings have been completed.

Lakeview plans to complete the Annual Filings on or before June 15, 2020.

Other than disclosed in the Corporation's press releases, there have been no material business developments since December 3, 2019, when the Corporation filed its interim financial statements for the period ended September 30, 2019.

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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Financials
Sales 2019 13,7 M 10,2 M 10,2 M
Net income 2019 9,14 M 6,82 M 6,82 M
Net Debt 2019 42,6 M 31,8 M 31,8 M
P/E ratio 2019 0,09x
Yield 2019 -
Capitalization 0,59 M 0,44 M 0,44 M
EV / Sales 2018 4,30x
EV / Sales 2019 3,16x
Nbr of Employees -
Free-Float 48,4%
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Managers
NameTitle
Keith Levit President, Chief Executive Officer & Director
Chris Miller Vice President-Operations
Rudy Beyer Chief Financial Officer
Sean Shore Independent Director
Lloyd Baker Independent Director