ClubLink Announces Major Expansion into Daily Fee Golf.KING CITY, Ontario--(BUSINESS WIRE)--Feb. 9, 1998--ClubLink Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :LNK LNK Love and Kisses LNK Lincoln, NE, USA - Municipal Airport (Airport Code) LNK Laisvas Nepriklausomas Kanalas (Lithuanian TV) LNK Linkcentre (website) ) announced today that it has entered into agreements to acquire eight 18-hole and two 9-hole daily fee golf courses in the Greater Toronto Area The Greater Toronto Area (widely abbreviated as the GTA) is the most populous metropolitan area in Canada. The GTA is a provincial planning area with a population of 5,555,912 at the 2006 Canadian Census. . In addition, it has acquired over 450 acres of development land contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. to these golf courses. These acquisitions increase ClubLink's holdings to 22 18-hole equivalent golf courses, from 13 that it currently owns and operates. Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Simmonds Simmonds is a surname, and may refer to
base air base, air station - a base for military aircraft army base - a large base of operations for an army will lead to enhanced opportunity to continue to generate operating, administrative and marketing economies. The excellent locations, the potential for improvement and expansion and the inclusion of lands for residential development, make these properties exciting additions to ClubLink." Mr. Simmonds went on to say, "The reputation for quality and service that the ClubLink name has come to represent, gives daily fee golfers The list of golfers has been split into two articles:
These acquisitions represent an additional investment by ClubLink of approximately $43,000,000 which will be paid from existing cash and debt capacity, together with approximately $3,500,000 being satisfied with common shares issued at $12.50 per share. Mr. Simmonds said, "ClubLink intends to make changes to improve each of these well regarded properties to a best in class standard." The acquired properties include the following: -0-
- Blue Springs Golf Club - comprising one 18-hole, and one
9-hole golf course, located just minutes north of ClubLink's
Greystone Golf Club and RattleSnake Point Golf Club;
- Gormley Green Golf Club and Rolling Hills Golf Club -
comprising, in the aggregate, five 18-hole golf courses,
each of which is just south of ClubLink's Emerald Hills Golf
Club and minutes east of ClubLink's DiamondBack Golf Club;
and
- Georgetown Golf Club and Bolton Golf Club - comprising, in
the aggregate, two 18 hole and one 9-hole golf courses,
located northeast of ClubLink's Greystone Golf Club and
RattleSnake Point Golf Club.
-0- Full Privilege ClubLink Members of ClubLink's private clubs will enjoy ClubLink Privileges at these Clubs, without payment of a green fee. CONTACT: ClubLink Corporation Bruce S. Simmonds, 905/841-3730 905/841-7033 (FAX) or ClubLink Corporation Kim S. Robinson, 905/841-3730 905/841-7033 (FAX) |
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