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Intelligencer Keeps Heat On Baymount

Published: February 2, 2009 10:04 am ET

Last Comment: February 2, 2009 2:04 pm ET | 1 Comment(s) | Jump to Comments

The Belleville Intelligencer is keeping the heat on Baymount Inc., who is supposed to be building the new Quinte Exhibition and Raceway in Belleville, Ont.

The publication reported a rather scathing article early last week which lambasted the company for the lack of progress and communication regarding to the project.

The Intelligencer has taken a very negative look at the future of the proposed raceway, saying in an article today that, "the new QER doesn't look like it's ever going to happen. Despite a sod-turning ceremony last August, the oft-delayed project seems doomed."

The piece goes on to say, "Baymount Inc. which was supposed to have financing for the $22-million project years ago, doesn't seem to have enough funds to even hire someone to answer the phone."

Last week Baymount reiterated its offer of up to $1.5 million of units at price of $0.035 per unit. Baymount had previously announced the offer on December 23, 2008.

To read The Intelligencer article in its entirety, click here.

(With files from The Belleville Intelligencer)

February 2, 2009 - 2:04 pmI see by the Stock Listing

Anonymous (not verified) SAID...

I see by the Stock Listing that Baymount is currently priced at $.025. Why would anyone pay $.035 for a "preferred" option that is valued 28% cheaper ($.025) to buy at market price?
1,500,000 @ $.025 = $37,500. Still a long way from $22,000,000!

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