Baymount Offering; Plaza Transaction Update
Baymount Incorporated announced today that it is in the process of arranging a private placement financing
of up to 66,666,667 units at price of $0.03 per unit for aggregate gross proceeds of up to $2,000,000.
According to the announcement, each unit will consist of one common share of Baymount and one common 'share purchase warrant.' Each whole warrant will entitle the holder to acquire one additional common share at a price of $0.07 during the first year following closing and at a price of $0.10 during the second year following closing. Closing is expected to occur in multiple tranches, as subscription proceeds and supporting documentation are received.
The proceeds from this financing will be used to build and develop the Quinte Raceway and Slots, a new racetrack and slot facility to be located in Belleville, Ont. and for working capital purposes.
Baymount also stated today that work is continuing on its previously-announced transaction with Plaza Gaming and Entertainment Corp., whereby Plaza will acquire a 75% equity interest in Baymount's new Quinte Racetrack and Slots facility in Belleville, Ont.
The release concluded by stating that further updates on this transaction will be provided as available.
(With files from Baymount)
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Good evening; I just
Good evening;
I just wanted to add my voice of disappointment regarding the Baymount operators. What they say here is only different than
what they said last December in one respect. Now they have a possible buyer for those
.03 cent shares, whereas, then they were looking for a buyer. THAT IS NOT GOOD ENOUGH
for the last nine months of effort! Lives have been permanently changed during the last four + years of silence from this inactivity. Why other officials have stood by
and not taken a hard line is also very sad indeed!
Not sure why Baymount has
Not sure why Baymount has been getting away with stringing everyone along for sooo long. Why did the ORC not step in along time ago and put a stop to this mess. Belleville should have been racing till the NEW track was built. So many horseman LOST MONEY and have been shut out and have lot interest in racing in the area. With no racing in Kingston and Belleville area there is more cost to every one now. THE whole situation is a mess and is SICKENING........
Deja-Vu all over again!!!!
Deja-Vu all over again!!!! Has Doug Rollins seen any shovels in the ground yet?? September's gone and we're into October and soon it will no longer be "this fall"
Every month the company goes out looking for more financing.
IMHO it's time Rollins and the Belleville Agricultural Society pulled the plug on.