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Leisureworld Announces Departure of Chief Financial Officer

MARKHAM, ONTARIO -- (Marketwired) -- 01/08/14 -- Leisureworld Senior Care Corporation (TSX: LW) today announced that Manny Di Filippo, Executive Vice President and Chief Financial Officer, has resigned his position with the company effective immediately.

Timothy McSorley (Tim) will serve as Interim CFO and Executive Vice President Finance until a replacement has been named. Mr. McSorley has been serving as a financial consultant to Leisureworld over the last few months, assisting it in the closing of its Specialty Care acquisition. He was formerly the CFO of Canadian Real Estate Investment Trust (CREIT) for 17 years.

"We thank Manny for his dedication and commitment to Leisureworld," said Lois Cormack, President and CEO. "We wish him all the best and great success in his future endeavours."

About Leisureworld

Leisureworld Senior Care Corporation is one of Canada's largest operators of seniors' housing and is the largest licensed LTC provider in Ontario. Leisureworld has 7,500 employees and owns and operates 35 LTC homes across Ontario with 5,733 beds. Leisureworld also owns and operates 10 retirement residences representing 1,065 suites, in Ontario and British Columbia. Under its management services division, Leisureworld manages 1,133 LTC beds and 428 retirement suites. Leisureworld subsidiaries include, Preferred Health Care Services, an accredited provider of professional nursing and personal support services. For more information, please visit Leisureworld's website at www.leisureworld.ca.

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