VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 20, 2010) – Leisure Canada Inc. (TSX VENTURE:LCN) (the “Company”) announces that its Board of Directors has approved the grant of incentive stock options under a fee schedule recommended by the Company’s Compensation Committee in October, 2009 and adopted by the Board of Directors on November 3, 2009, to purchase up to 640,000 common shares of the Company at an exercise price of $0.25 per share to certain directors of the Company. The incentive stock options will expire on August 13, 2020. This grant is made pursuant to the Company’s stock option plan previously approved by its Shareholders on September 16, 2009 and is subject to regulatory approval.
About Leisure Canada Inc.
Leisure Canada Inc. is a publicly traded company, incorporated under the laws of Ontario and listed on the TSX Venture Exchange under the symbol “LCN”. The Company is engaged in the business of developing hotel, resort and commercial properties in Cuba through its wholly-owned subsidiary, Wilton Properties Ltd. (“Wilton”), in joint venture with Grupo Hotelero Gran Caribe S.A. (“Gran Caribe”), an agency of the Cuban government.
For further information on the Company please visit our website at www.leisurecanada.com. The Company’s public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
This news release may contain forward-looking statements and information within the meaning of applicable securities legislation. These forward-looking statements reflect management’s current expectations, estimates, projections, beliefs and assumptions that were made using information currently available to management. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “plan,” “anticipate,” “believe,” “intend,” “estimate,” “predict,” “forecast,” “outlook,” “potential,” “continue,” “should,” “likely,” or the negative of these terms or other comparable terminology. Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information.
On Behalf of the Board of Directors
Colin Yee, Chief Financial Officer and Corporate Secretary