ClubLink Announces Private Placement of $13,050,000 of Special Warrants.KING CITY, Ontario--(BUSINESS WIRE)--Nov. 14, 1996--ClubLink (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) ) is pleased to announce that it has entered into an agreement with HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) James Capel Canada Inc. and Midland Walwyn Capital Inc., in connection with the sale of 1,450,000 Special Warrants at $9.00 per Special Warrant for gross proceeds of $13,050,000. Each Special Warrant is convertible, for no additional consideration into one Unit consisting of one Common Share and one half of a common share purchase warrant. Each whole common share purchase warrant will enable the holder to purchase one Common Share at any time for a period of up to two years following the closing of the sale of the Special Warrants, at a price of $9.00 per Common Share. It is currently intended that the Private Placement, which remains subject to regulatory approval, will be completed on or about November 29, 1996. The Company intends to file a prospectus to qualify the issuance of the Common Shares and common share purchase warrants. In the event the Company fails to receive a receipt for the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. by March 31, 1997, each Special Warrant will be exercisable into 1.1 Units. Proceeds of the offering will be used to retire existing debt of the Corporation and to add to working capital pending capital expenditures and potential acquisitions. ClubLink's Common Shares are traded on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbol Trading symbol See: Ticker symbol "LNK". ClubLink owns, develops and operates quality golf clubs. These include King Valley Golf Club, Greystone Golf Club, Heron Point Golf Links, Emerald Hills Golf Club and Cherry Downs Golf and Country Club 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. ; The Lake Joseph Club in Muskoka; and Kanata Lakes Golf and Country Club in the National Capital Region. In addition, ClubLink is developing residential and resort accommodation adjacent to several of its properties. CONTACT: ClubLink Corporation Bruce S. Simmonds, 905/ 841-3730 905/ 841-7033 (FAX) or ClubLink Corporation Mr. Kim S. Robinson, 905/ 841-3730 905/ 841-7033 (FAX) |
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