Clairvest Completes Sale of a Portion of Gateway Casinos Income Fund.TORONTO -- Clairvest Group Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CVG CVG Convergys Corp CVG Corporación Venezolana de Guayana CVG Clear Vertical Grain (woodworking) CVG Carrier Group CVG Corporacion Venezolana de Guyana CVG Comprehensive Video Group (South Hackensack, NJ, USA) ) announced today it has completed a previously announced sale of 1,865,226 units of Gateway Casinos Income Fund The Gateway Casinos Income Fund (TSX: GCI.un) is a gaming operator in western Canada. It operate seven casinos in Burnaby, Langley City, Kamloops, Kelowna, Penticton ,Vernon and Edmonton,.[1] It also provides management services to Gateway Casinos Inc. (the "Fund") for net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of $30.7 million. Clairvest will continue to hold 1,500,649 units of the Fund, representing approximately 5.7% of the outstanding units. About Clairvest Clairvest is a Canadian merchant bank that invests its own capital, and that of third parties through Clairvest Equity Partners Limited Partnership ("CEP CEP congenital erythropoietic porphyria. CEP abbr. congenital erythropoietic porphyria "), in companies that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments. This press release contains forward-looking statements with respect to Clairvest Group Inc., its subsidiaries and their investments. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clairvest, its subsidiaries and their investments to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Clairvest Group Inc. (TSX:CVG) |
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