Leisure Canada Inc. (the “Company”), a leading real-estate developer in Cuba, announces today the 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. All 10,000,000 units have now been closed for proceeds of $1,000,000. 

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, Jordan Capital and Jim Gray were advisors to Leisure Canada on this partially-brokered transaction. Agents’ fees were paid totalling approximately $19,679 and 196,776 brokers’ warrants.

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.