The Juno Awards, which will be presented at the end of March, have announced that Canadian rockers Loverboy will be added to the Canadian Music Hall of Fame, while songstress Sarah McLachlan will be presented with the Allan Waters Humanitarian Award.

"For me, as a member of Loverboy it is a great honour to be in the company of such great artists who came before me," says Loverboy singer Mike Reno.

Loverboy were formed in Calgary, Alberta, in 1980 and the act's self-titled debut yielded the hit "Turn Me Loose," making the band significant stars. The debut record has has sold more than 4 million records worldwide. The band's follow-up, "Get Lucky," cemented their reputation as a hard-rocking party band, and offered another monster hit in "Everybody's Working For The Weekend." The band will be honored during the televised portion of the awards, the Junos organization announced.

The Junos also said McLachlan, best known for her creation of the Lilith Fair tours and the 1997 album, "Surfacing," for which she received two Grammys and four Juno awards. She is also known for her contributions to charitable endeavors and humanitarian work in both Canada and abroad.

"I am honoured and humbled to receive the Allan Waters Humanitarian Award. I feel so lucky and blessed in my life and giving back feels right and good - it's the best way I know to thank the universe," she said in a statement.