Press release from CNW Group
Great Canadian Gaming insiders intend to trade in the Company's securities
Thursday, May 30, 2013
Great Canadian Gaming insiders intend to trade in the Company's securities19:34 EDT Thursday, May 30, 2013
RICHMOND, BC, May 30, 2013 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great Canadian" or the "Company") today announced that the following director and members of senior management, who are considered insiders of the Company, have given notice that they intend to trade in the Company's securities within the next 30 days.
|Insider Name||Title||Intended Transactions1||
% of Common Shares
Intended to be Sold2,3
% of the Value of Great
Intended to be Sold2,4
|Earnest C. Beaudin||Member of the Board of
|Exercise 86,667 options and
sell 171,100 common shares
|Peter Goudron||Senior Vice President,
|Exercise 65,000 options and
sell 65,000 common shares
|Victor Poleschuk||Senior Vice President,
|Exercise 35,000 options and
sell 35,000 common shares
|W. David Fretz||Vice President, American
|Exercise 50,000 options and
sell 50,000 common shares
|Terrance Doyle||Vice President, Property
|Exercise 35,000 options and
sell 35,000 common shares
|James McGrogan||Vice President, Business
|Exercise 12,500 options and
sell 12,500 common shares
|Sarah J. Hart||Executive Director,
|Exercise 26,667 options and
sell 26,667 common shares
|1||Each of the options intended to be exercised by the insiders has an expiry date of March 11, 2014.|
|2||Great Canadian Securities for this calculation includes stock options and common shares.|
|3||Calculated as the number of common shares intended for sale as a percentage of in-the-money Great Canadian Securities
held by the insider.
|4||Calculated as the intrinsic value of Great Canadian Securities in the Intended Transactions as a percentage of the total intrinsic
value of Great Canadian Securities held by the insider. The intrinsic values in these estimates were based on the Company's
common share closing price on May 30, 2013 of $9.96. The intrinsic value of a stock option is the positive difference between
the Company's common share closing price and the stock option's exercise price. The intrinsic value of a common share is the
Company's closing share price as traded on the TSX.
Any transactions completed by these insiders will be reported on www.SEDI.ca within five days of their transactions.
The Company has in place policies that are designed to provide transparency to the public about an insider's intention to trade in the Company's securities. A cornerstone of that policy is a requirement that insiders give the Company prior notice of any intention to trade Great Canadian securities so that the market may be alerted to that intention if the Company believes that an insider is intending to trade a material quantity of the Company's securities and/or a material portion of the value of such securities that are under the insider's control.
Other insiders of the Company may from time to time disclose their intentions to trade securities of the Company.
ABOUT GREAT CANADIAN GAMING CORPORATION
Great Canadian Gaming Corporation operates gaming, entertainment and hospitality facilities in British Columbia, Ontario, Nova Scotia and Washington State. The Company's 17 gaming properties consist of ten casinos, including one with a Four Diamond hotel resort, four horse racetrack casinos, and three community gaming centres. As of March 31, 2013, the Company had approximately 3,900 employees in Canada and 600 in Washington State. Further information is available on the Company's website, www.gcgaming.com.
This 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, the terms and expected benefits of the normal course issuer bid, the Company's strategy for growth, expected future expenditures, costs, operating and financial results, expected impact of future commitments, the future ability of the Company to operate the Georgian Downs and Flamboro Downs facilities and their profitability, and the ability of the Company to enter into new agreements for the operation of gaming facilities at Georgian Downs and Flamboro Downs. Forward-looking information may be identified by words such as "anticipate", "believe", "expect", or similar expressions. Such forward-looking information is not a guarantee of future performance and may involve a number of risks and uncertainties.
Although forward-looking information is based on information and assumptions that the Company believes are current, reasonable and complete, they are subject to unknown risks, uncertainties, and a number of factors that could cause actual results to vary materially from those expressed or implied by such forward-looking information. Such factors may include, but are not limited to: terms of operational services agreements; pending, proposed or unanticipated regulatory or policy changes; the Company's ability to obtain and renew required business licenses, leases, and operational services agreements; unanticipated fines, sanctions and suspensions imposed on the Company by its regulators; impact of global liquidity and credit availability; adverse tourism trends and further decreases in levels of travel, leisure and consumer spending; competition from established competitors and new entrants in the gaming business; dependence on key personnel; the Company's ability to manage its capital projects and its expanding operations; the risk that systems, procedures and controls may not be adequate to meet regulatory requirements or to support current and expanding operations; potential undisclosed liabilities and capital expenditures associated with acquisitions; negative connotations linked to the gaming industry; First Nations rights with respect to some land on which we conduct our operations; future or current legal proceedings; construction disruptions; financial covenants associated with credit facilities and long-term debt; credit, liquidity and market risks associated with our financial instruments; interest and exchange rate fluctuations; non-realization of cost reductions and synergies; demand for new products and services; fluctuations in operating results; and economic uncertainty and financial market volatility. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors and other risks and uncertainties are discussed in the Company's continuous disclosure documents filed with the Canadian securities regulatory authorities from time to time, including in the "Risk Factors" section of the Company's Annual Information Form for fiscal 2012, and as identified in the Company's disclosure record on SEDAR at www.sedar.com.
Readers are cautioned not to place undue reliance on the forward-looking information, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. The forward-looking information contained herein is made as of the date hereof, is subject to change after such date, and is expressly qualified in its entirety by cautionary statements in this press release. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. The Company undertakes no obligation to publicly revise forward-looking information to reflect subsequent events or circumstances except as required by law.
ON BEHALF OF
GREAT CANADIAN GAMING CORPORATION
"Original Signed By Rod N. Baker"
Rod N. Baker
President and Chief Executive Officer
GREAT CANADIAN GAMING CORPORATION [TSX:GC]
Suite #350 - 13775 Commerce Parkway
SOURCE: Great Canadian Gaming Corporation
For further information:
For investor enquiries:
Ms. Tanya Ruskowski
Executive Assistant to the President and Chief Executive Officer and the Chief Financial Officer
For media enquiries:
Mr. Howard Blank
Vice-President, Communications, Entertainment & Responsible Gaming