Clublink Corporation announces rights offering.KING CITY, ONTARIO--(BUSINESS WIRE)--Sept. 11, 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 a ten-for-one rights offering providing for the issuance of up to 8,941,567 common shares at a price of 0.77 per share. If fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of , the gross proceeds to be realized by ClubLink pursuant to the rights offering will be $6,885,000. Pursuant to the offering, holders of ClubLink's outstanding common shares, convertible subordinated debentures subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before and convertible secured notes, as of the close of business on September 19, 1995, will be entitled to receive one right for each common share held and one right for each common share into which the debentures or notes held are convertible. Ten (10) rights will entitle the holder to subscribe for one common share at a price of $0.77 per share. The rights will expire at 4:00 p.m. (Toronto time) on October 11, 1995. On September 20, 1995, a transferable certificate evidencing the total number of rights to which a securityholder is entitled will be mailed together with a rights offering circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. to each securityholder resident in Ontario. To subscribe for common shares, a completed rights certificate and payment in full of the aggregate subscription price must be received by The R-M Trust Company on or before 4:00 p.m. on October 11, 1995. Rights certificates will not be sent to shareholders who are resident in any jurisdiction other than Ontario. The rights to which these securityholders would otherwise be entitled will be sold by The R-M Trust Company on the open market and the 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). thereof (less any required withholding) will be forwarded by mail to such securityholders at their addresses appearing on the records of ClubLink. ClubLink has retained James Capel Canada Inc. in connection with this offering to manage the solicitation of subscriptions for common shares pursuant to the exercise of rights. ClubLink Corporation owns five operating 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 Emerald Hill may refer to:
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 is developing The Lake Joseph Club in Muskoka and is the owner of approximately 550 acres of development lands adjacent to its various golf properties. CONTACT: Justin A. Connidis, 905/841-3730 Fax: 905/841-7033 |
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