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Great Canadian Gaming Announces Anticipated Closing Date of the Plan of Arrangement with Apollo Funds
Great Canadian Gaming Announces Anticipated Closing Date of the Plan of Arrangement with ...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n \n \n \n Great Canadian Gaming Announces Anticipated Closing Date of the Plan of Arrangement with Apollo Funds\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Sept. 16, 2021\n \n /CNW/ - Great Canadian Gaming Corporation (TSX: GC) (\"\n \n Great Canadian\n \n \" or the \"\n \n Company\n \n \") today announced that, further to its news release on\n \n September 10, 2021\n \n , the Company will be advancing to\n \n September 22, 2021\n \n the previously announced closing of the plan of arrangement under section 288 of the\n \n Business Corporations Act\n \n (\n \n British Columbia\n \n ) pursuant to which Raptor Acquisition Corp., an affiliate of funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO), will acquire all the issued and outstanding common shares of the Company (the \"\n \n Shares\n \n \") at a price of\n \n C$45.00\n \n in cash per Share (the \"\n \n Arrangement\n \n \").  The closing of the Arrangement is subject to the satisfaction of customary closing conditions.\n \n \n The Company also plans to advance, to the closing date of\n \n September 22, 2021\n \n , the defeaseance and redemption of the\n \n $189,000,000\n \n aggregate principal amount of 5.25% senior unsecured debentures (the \"\n \n Debentures\n \n \") pursuant to the indenture governing the Debentures.  The redemption is conditional on the closing of the Arrangement.\n \n \n Following completion of the Arrangement, it is anticipated that the Shares and Debentures will be delisted from the Toronto Stock Exchange and the Company will apply to cease to be a reporting issuer under applicable Canadian securities laws.\n \n \n \n ABOUT GREAT CANADIAN GAMING CORPORATION\n \n \n \n Founded in 1982, Great Canadian is an\n \n Ontario\n \n based company that operates 25 gaming, entertainment and hospitality facilities in\n \n Ontario\n \n ,\n \n British Columbia\n \n ,\n \n New Brunswick\n \n , and\n \n Nova Scotia\n \n . Fundamental to the Company's culture is its commitment to social responsibility. \"PROUD o...