ClubLink Corporation - company update.TORONTO--(BUSINESS WIRE)--Oct. 25, 1995--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) ) ClubLink Corporation ("ClubLink") today announced that pursuant to the rights offering announced in September 1995 it has issued 3,017,338 common shares at a price of $0.77 per share for aggregate proceeds of $2,323,350. 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 approximately $2,230,000, after deducting expenses of the offering, will be used to provide for additional working capital to be used in connection with the Company's golf course and golf related real estate development and acquisition activities. ^Bruce Simmonds, President of ClubLink, also announced that Mr. Kim Robinson has been appointed Chief Financial Officer and Mr. Charles Lorimer Lor´i`mer n. 1. A maker of bits, spurs, and metal mounting for bridles and saddles; hence, a saddler. has been appointed Director of Club Operations of ClubLink. Mr. Robinson comes to ClubLink with fifteen years of experience with public companies and the brokerage industry, including for the past four years being Chief Financial Officer of Vitran Corporation, a leading high-growth transportation company. Mr. Lorimer has been responsible for golf operations at Lionhead Lionhead may refer to
Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. Report on Corporation Governance and that Paul Simmonds has resigned from the Board and as a Vice President. "Paul was instrumental in establishing ClubLink's strong marketing team and corporate profile," Bruce Simmonds said. "Now that ClubLink is established as the leading golf club company in Canada, Paul is pursuing some long-standing personal business interests. He will continue to provide marketing consulting services to ClubLink." ^ClubLink owns five golf clubs in the Toronto area: King Valley Golf Club in King City; Greystone Golf Club in Milton; Heron Point Golf Links in Ancaster; Emerald Hills Golf & Country Club in Stouffville; and Cherry Downs Golf and Country Club in Pickering. In addition, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , ClubLink Properties Limited, ClubLink has built The Lake Joseph Club golf course and Water's Edge Restaurant in Muskoka and is developing residential accommodation on approximately 550 acres of land adjacent to ClubLink's golf clubs. CONTACT: ClubLink Corporation Bruce S. Simmonds, 905/841-3730 |
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