Leisure Canada Inc.

March 12, 2009 09:45 ET

Leisure Canada Announces $1 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2009) - Leisure Canada Inc. (the "Company") (TSX VENTURE:LCN) announces today of a partially-brokered private placement for up to 10,000,000 units at C$0.10 per unit for aggregate proceeds of up to C$1 million. Each unit consists of one class "A" common share plus one-half warrant. One full warrant shall entitle the holder to purchase one additional common share of Leisure Canada for a period of 24 months after the closing date at a price of C$0.15 per warrant share. The proceeds from this financing will be used to fund the Company's operations for 2009.

The private placement is subject to the approval of the TSX-Venture Exchange.

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.

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

Contact Information