Leisure Canada Inc. (the “Company”), a leading real-estate developer in Cuba, announces today the partial completion of its private placement, originally announced March 14, 2009, for 10,000,000 units at C$0.10 per unit for aggregate proceeds of C$1 million. Each unit consists of one class “A” share (common share) and one-half non-transferable share purchase warrant with each full warrant entitling the holder to purchase one additional common share for a period of 24 months after the closing date at a price of C$0.15 per warrant share.

To date, 7,765,563 units have been closed for proceeds of $776,556. It is expected that the completion of the remaining units of this private placement will be closed within the coming weeks bringing the total raised to $1 million.

All of the securities issued in connection with the closing of this private placement will be subject to a four month hold period. The proceeds from this financing will be used for working capital. 

MAC Capital Limited and Jim Gray were advisors to Leisure Canada on this partially-brokered transaction.

Leisure Canada is a leading developer of luxury resorts in Cuba, with multiple properties currently under development, including five-star hotels and championship golf courses.

Walter H. Berukoff
Chairman

For more information, please contact:
Investor Relations
Telephone:  (604) 990-9599

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.