First Canadian Management Corporation agreed to acquire Lakeview Hotel Investment Corp. (TSXV:LHR) for CAD 0.39 million on November 9, 2021. The consideration is for CAD 0.02 per share in cash for aggregate consideration of CAD 391,156. The closing price of the shares was CAD 0.025. FCMC will acquire each outstanding Common Share for the Share Consideration and each outstanding Debenture for the Debenture Consideration. FCMC agreed to acquire all of the outstanding Series C Debentures and all of the Series D Debentures of Lakeview for CAD 74.03 per CAD 1,000 principal amount outstanding under the Series C Debentures and Series D Debentures, for aggregate consideration of CAD 1,356,673 and CAD 752,144, respectively, and any and all accrued and unpaid interest owing to the Debenture holders shall be forgiven, settled and extinguished for no consideration. The closing price of the Series C Debentures and Series D Debentures on November 9, 2021, was CAD 1.65 and CAD 1.15 respectively. FCMC has agreed to pay to Lakeview or to the benefit of Lakeview approximately CAD 14.8 million for Lakeview to pay and satisfy all amounts owing by Lakeview to its lending syndicate led by ATB Financial, and to pay certain costs associated with the foregoing transaction. All of the outstanding Series C and Series D Redeemable Subordinated Debentures and collectively with the Series C Debentures has an aggregate consideration of CAD 2,108,818. Immediately following closing, the foregoing securities will remain outstanding with the shares registered in the name of 13487369 Canada Inc. and the Debentures registered in the name of 13487326 Canada Inc. Lakeview will pay FCMC termination fee of CAD 2.5 million. Transaction is subject to the satisfaction of certain closing conditions including court approval, Lakeview approval, the approval by Lakeview shareholders, Series C Debenture holders and Series D Debenture holders, each voting separately as a single class (together with any majority of the minority voting approvals required under applicable Canadian securities laws). Record date for meeting shall be November 11, 2021. Special meeting of Lakeview shareholders will be held on December 15, 2021. As of December 15, 2021, Lakeview Hotel Investment Corp's shareholders approved the transaction. The Board of Directors, after receiving the unanimous recommendation of the Special Committee and in consultation with its legal advisors, has unanimously determined that transaction is in the best interests of Lakeview and fair to shareholders and debenture holders and is recommending that shareholders and debenture holders, respectively, vote in favour of transaction. Transaction is expected close in late December 2021. As of December 16, 2021, closure of the deal is expected to be effective December 20, 2021. Tw Advisory acted as a fairness opinion provider to the Special Committee and Board of Directors of Lakeview. Peter J. Davey and Wes J. Burrows from Fillmore Riley LLP acted as a legal advisor to Lakeview. David J. Dropsy from De Grandpré Chait LLP acted as a legal advisor to FCMC. Thompson Dorfman Sweatman LLP acted as a legal advisor to the Special Committee of Lakeview. Colliers Hotels is acting as advisor to Lakeview. Tw Advisory acted as a fairness opinion provider to the Special Committee and Board of Directors of Lakeview. TSX Trust Company acted as a transfer agent for Lakeview. First Canadian Management Corporation completed the acquisition of Lakeview Hotel Investment Corp. (TSXV:LHR) on December 20, 2021. The Common Shares, the Series C Debentures and the Series D Debentures will each be delisted from the TSX Venture Exchange (the "TSX") effective as of the close of trading on December 21, 2021.