Belleville Agricultural Society president Doug Rollins has made more comments regarding the recent Baymount Inc. announcement of a deal with Macallan Equity Inc. "The bottom line is Baymount just didn't have enough money to make the thing go," he was quoted as saying in an
article by The Kingston Whig Standard.
Rollins went on to say, "This is the first time somebody's (Macallan has) come up and put some money on the table. They must be serious about the thing, and they'd like to get it started."
The report also cites Rollins as saying that he has spoken with Macallan officials and they are as enthusiastic as he is about getting the project to build the New Quinte Exhibition Raceway moving forward.
"If they fulfill what they say they're going to do then I think we're back on page one again and it should get started."
On Friday, January 22, Baymount Incorporated announced it had reached an agreement with Macallan Equity Inc. to provide financing for the company's subsidiary, Belleville Racetrack Development Corporation (BRDC).
Under the agreement, Macallan will provide BRDC with an initial advance of $3 million and will have the right to acquire a 50% equity interest in BRDC upon delivery of a further $1 million.
Click here to the read The Kingston Whig Standard article in its entirety.
(With files from The Kingston Whig Standard)
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