TORONTO, June 9 /CNW/ - Baymount Incorporated (the "Company" or
"Baymount") (TSX-V: BYM) is pleased to report that each of the matters placed
before the shareholders of the Corporation at the Annual and Special Meeting
held on June 6, 2008 (the "Meeting") received the unanimous approval of all
An aggregate of 42,756,739 shares were represented at the meeting either
in person or by proxy, representing approximately 31% of the issued and
outstanding common shares of the Company.
Mr. Graham Simmonds, President and CEO of Baymount stated, "Management
appreciates the shareholder support they have received throughout the
extensive pre construction phase of our Quinte development. We are delighted
that we will soon be able to provide our shareholders with frequent updates on
our progress as we enter the construction phase of this process."
In addition to the existing members, Mr. Pierre G Gagnon, a significant
shareholder of the Company, was also elected to the Board of Directors subject
to regulatory approval. Mr. Gagnon is an Associate of the Institute of
Canadian Bankers and is the chair of Copernicus Educational Products Inc. and
OO Lab Inc. He is a director of publicly listed Tangarine Concepts
Corporation, and Award Capital Corp. as well as a number of private companies.
Mr. Gagnon is currently the president of Chancery Investments Inc., an
Baymount seeks out and develops opportunities within the horseracing
industry. It is the Baymount philosophy to create entertainment destinations
for consumers while providing our investors with a vehicle that allows them to
participate in the growth of Canadian gaming at racetracks.
Baymount's wholly-owned subsidiary Belleville Racetrack Development
Corporation ("BRDC") has an agreement with the Belleville Agricultural Society
to build a facility to relocate the Quinte Exhibition and Raceway in
Belleville, Ontario. QER is one of the 18 racetrack licenses in Ontario
eligible to participate in Ontario's Slots-at-Racetracks program. In 2006, the
Alcohol and Gaming Commission of Ontario found BRDC suitable to act as
Landlord for the proposed OLG gaming premises to be located at the new QER.
The Company has also received Preliminary Approval for a License to
Operate a Racetrack from the Ontario Racing Commission.
ON BEHALF OF BAYMOUNT INCORPORATED
Graham Simmonds, President & Chief Executive Officer
For additional information please visit the company's website at
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
This press release contains certain forward-looking statements with
respect to the Company. These forward-looking statements, by their nature,
involve risks and uncertainties that could cause actual results to differ
materially from those contemplated. We consider the assumptions on which these
forward-looking statements are based to be reasonable, but caution the reader
that these assumptions regarding future events, many of which are beyond our
control, may ultimately prove to be incorrect.
For further information:
For further information: Baymount Incorporated: Mr. Graham Simmonds,
President and Chief Executive Officer, (416) 979-2881 Ext.223, email@example.com