WINNIPEG, MB, May 31, 2021 /CNW/ - Lakeview Hotel Investment
Corp. (TSXV: LHIC) (the "Corporation" or "Lakeview")
announced today that it will not be able to meet the filing date of
May 31, 2021, as provided in National
Instrument 51-102 – Continuous Disclosure Requirements, for
filing of the following continuous disclosure documents: (i)
interim financial statements for the 3-month period ended
March 31, 2021; (ii) management's
discussion & analysis for the 3-month period ended March 31, 2021 and (iii) certification of filings
under section 5.1 of National Instrument 52-109 – Certification
of Disclosure in Issuers' Annual and Interim Filings
(collectively, the "Interim Filings").
The default is due primarily to the unexpected absence of the
Corporation's senior corporate accountant due to serious family
health issues.
Accordingly, the Corporation has applied to The Manitoba
Securities Commission (the "MSC") for a Management Cease
Trade Order that will prohibit the Chief Executive Officer and the
Chief Financial Officer of Lakeview from trading in the securities
of the Corporation until such time as the Interim Filings have been
filed. The MSC has yet to make a decision on the aforementioned
application. The MSC may grant the application and issue the
Management Cease Trade Order or it may impose an Issuer Cease Trade
Order if the Interim Filings are not filed in a timely fashion.
During the period of default and until filing of the Interim
Filings, the Corporation intends to satisfy the provisions of the
alternative information guidelines as required by National Policy
12-203 – Management Cease Trade Orders.
The Corporation's management and other insiders are subject to a
trading blackout reflecting the principles contained in section 9
of National Policy 11-207 – Failure-to-File Cease Trade Orders
and Revocations in Multiple Jurisdictions until the Interim
Filings have been completed.
Lakeview plans to complete the Interim Filings on or before
June 15, 2021.
Other than disclosed in the Corporation's press releases, there
have been no material business developments since December 9, 2020, when the Corporation filed its
notice of change of auditor.
About the Corporation
Lakeview Hotel Investment Corp is listed on the TSX Venture
Exchange under the symbol "LHR". Lakeview Hotel Investment
Corp receives income from ownership, management and licensing of
hotel properties.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Lakeview Hotel Investment Corp
