LHR.UN Lakeview Hotel Invest Corp

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S NEWS WIRE SERVICES/ WINNIPEG, Feb. 23, 2012 /CNW/ - Lakeview Hotel Real Estate Investment Trust ("Lakeview REIT" or the "Trust") announced today that it is issuing 125,184 trust unit purchase warrants of the Trust to Burgeonvest Bick Securities Limited who acted as soliciting dealer (the "Soliciting Dealer") for the Trust in connection with the meeting (the "Meeting") of the holders (the "Debentureholders") of 6.5% Series C Convertible Redeemable Subordinated Debentures (the "Debentures") held on February 22, 2012. As previously announced and as disclosed in the management information circular related to the Meeting (the "Circular"), for its services the Soliciting Dealer will be receiving a fee for acting as soliciting dealer, in part through cash and in part through an in-kind payment of amended Debentures (each a "Compensation Debenture"), as such Debentures have been amended pursuant to an extraordinary resolution passed at the Meeting.  Similar to the Debentureholders, on March 2, 2012, the Soliciting Dealer will receive 384 trust unit purchase warrants of the Trust for each Compensation Debenture to which it is entitled (the "Soliciting Dealer Warrants").  Each Soliciting Dealer Warrant entitles the holder thereof to purchase one trust unit of Lakeview REIT at an exercise price of $0.65 until March 2, 2017 when the Warrants will expire.  The Soliciting Dealer Warrants will not be listed for trading on the TSX Venture Exchange or any other exchange. Lakeview REIT is a real estate investment trust, which is listed on the TSX Venture Exchange under the symbol "LHR.UN".  Lakeview REIT receives income from ownership, management and licensing of hotel properties.  For further information on Lakeview REIT please visit our website www.lakeviewreit.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Lakeview Hotel Real Estate Investment Trust CONTACT: Keith Levit, President, or Avrum Senensky, Executive VicePresidentTel: (204) 947-1161, Fax: (204) 957-1697,Email asenensky@lakeviewhotels.com

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