Business
Great Canadian Gaming Corporation completes purchase of shares from the estate of Ross Mcleod
RICHMOND, BC , June 29, 2015 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("...
About this update from Goldcana Resources Inc.
[{"type":"text","content":"\n\nRICHMOND, BC, June 29, 2015 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] (\"Great Canadian\" or the \"Company\") is pleased to announce the closing of its previously announced purchase of 3,400,000 common shares of the Company (the \"Estate Shares\") from a company controlled by the Estate of Ross J. McLeod (the \"Estate\").  The purchase price was $77.7 million or $22.8545 per share.  The purchased Estate Shares represent approximately 4.87% of the number of outstanding common shares.  Ross J. McLeod was a director and officer of the Company who passed away in 2011.  \n\nAs set out in the Company's May 25, 2015 press release, the Company is cancelling the Estate Shares following the purchase. Shareholders should now review their holdings and determine whether, after cancellation of the Estate Shares, the number of shares they hold trigger a requirement to register with a gaming authority.  The registration requirements are set out in the Company's articles, a copy of which is available under the Company's profile at www.SEDAR.com.\n\nABOUT GREAT CANADIAN GAMING CORPORATION\n\nGreat Canadian Gaming Corporation operates gaming, entertainment and hospitality facilities in British Columbia, Ontario, Nova Scotia, and Washington State. The Company's 16 gaming properties consist of three community gaming centres, four racetracks (two with casinos operated by the Company and two with casinos operated by the Ontario Lottery and Gaming Corporation), and nine casinos, including one with a Four Diamond resort hotel. As of March 31, 2015, the Company had approximately 3,900 employees in Canada and 500 in Washington State. Further information is available on the Company's website, www.gcgaming.com.\n\nDISCLAIMER \n\nThis press release contains certain \"forward-looking information\" or statements within the meaning of applicable securities legislation. Forward-looking information is based on the Company's current expectations, estimates, projections and assumptions that were made by the Company in light of its historical trends and other factors. All information or statements, other than statements of historical fact, are forward-looking information including statements that address expectations, estimates or projections about the future and the timing and terms of the purchase of shares from the Estat...