Tri-White Corporation announces increase in ownership of Clublink



    Stock Symbol: (TSX: TWH)

    TORONTO, April 25 /CNW/ - Tri-White Corporation ("Tri-White") announced
today that it has entered into an agreement with 2126521 Ontario Inc. to
purchase 6,635,300 common shares in the capital of ClubLink Corporation
("ClubLink") at a price of $13.25 per common share. With respect to the total
consideration of $87,917,725, $35,000,000 is to be settled by way of a one
year unsecured note, with the balance in cash. The transaction is expected to
close June 1, 2007. As a result of the transaction, together with the common
shares currently owned, Tri-White will beneficially own 11,995,475 common
shares, representing approximately 70.7% of the issued and outstanding common
shares of ClubLink. Tri-White is considering various options with respect to
its holding in ClubLink, including the possibility of making an offer at the
same price to the remaining shareholders of ClubLink.

    Tri-White Corporation holds a diverse merchant-banking portfolio and is
publicly listed on the Toronto Stock Exchange. K. Rai Sahi, Chairman and Chief
Executive Officer controls approximately 70% of the outstanding common shares
of Tri-White. Tri-White is the largest shareholder of ClubLink Corporation,
Canada's leading owner, operator and developer of high quality member golf
clubs, with 40, 18-hole equivalent properties in Canada. As well, Tri-White is
the largest shareholder of Renasant Financial Partners Ltd., a financial
services provider and equipment trading organization, operating throughout
North America and Europe. In addition, Tri-White owns a 100% interest in the
historic White Pass & Yukon Route Railway, with strategic holdings in the port
operations and supporting excursions, based in Skagway, Alaska.

    %SEDAR: 00009355E




For further information:

For further information: K. Rai Sahi, Chief Executive Officer, Tel:
(905) 281-3800, Fax: (905) 281-5890, e-mail: rsahi@morguard.com; Don Turple,
Chief Financial Officer, Tel: (905) 281-5948, Fax: (905) 281-5890, e-mail:
dturple@morguard.com

Organization Profile

TRI-WHITE CORPORATION

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