Press Release: Leisure Canada Inc.
July 12, 2001
VANCOUVER, BC -- Leisure Canada Inc. (LCI), the leading developer of luxury resorts in Cuba, today announced the
appointment of Mr. W. David Oliver to its board of directors effective as of the date of the Company's last AGM
held on June 19, 2001.
Mr. Oliver has been involved globally in numerous aspects of the hospitality business for the last thirty years.
Currently Director of Development for Starwood Hotels and Resorts, he is responsible for development of the Starwood
brands in Canada, including Sheraton, Westin, Four Points and St. Regis. Mr. Oliver has held previous executive
positions with Wardair, Canadian Pacific Hotels, Renaissance/Ramada Hotels and Princess Hotels.
Walter H. Berukoff, Chairman and Chief Executive Officer of LCI said "David has extensive experience in the
hospitality and tourism industry with involvement in multi property operations, marketing, feasibility, and construction
and development of hotel properties and resort projects throughout the world. David is a welcome addition to LCI's
board of directors".
LCI has also announced the establishment of an Advisory Board. The Advisory Board will be comprised of individuals
whose collective experience and expertise will support the development of LCI's Cuban hotel resort projects. Members
of the Advisory Board will have expertise in corporate finance, the development, management and operations of hotels
and resorts, timeshares and strata titles, golf course development and experience with international tourism in
the international tourism market.
LCI's Advisory Board will consist of up to five individuals. The first two members of the Company's Advisory Board
are Franklin L. Davis and Simon F. Cooper. Mr. Davis is a former director of the Company and an experienced corporate
securities lawyer based in Toronto. Simon F. Cooper is past President of Marriott Lodging Canada and President
of Ritz Carlton Hotels and is also a former member of the Company's board of directors.
LCI has extended the expiry date of 1,250,000 warrants and 147,058 Broker's warrants, which were granted during
its 1999 private placement, to July 2002.
Leisure Canada Inc. is the leading developer of luxury multi destination resorts in Cuba, with multiple properties
currently under development, including five-star hotels, two 18-hole championship golf courses, and timeshare communities.
Le Meridien Hotels & Resorts and PGA Golf Management are strategic partners in the development of its properties
and destination resort projects.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy
of this release.