Vehicle Gateway Corp. to place $78 million bid to rename the CN Tower

TORONTO, March 23 /CNW/ - The Board of Directors at 'VEHICLE GATEWAY CORPORATION' has passed a motion to move forward with a $78 million bid to purchase the naming rights to Canada's National Tower.

Although the bid is not due to be formally submitted until next Tuesday, the agreement would see 'VEHICLE GATEWAY CORPORATION' obtaining the rights to rename and redesign the tower whilst 'CANADA LANDS COMPANY LIMITED' maintains ownership. Peter Davies, Director of Sales and Marketing at Vehicle Gateway, says that, "The $78 million bid will not only help give Toronto a unique boost in the tourism department, it will also help the Canadian economy immensely."

As the Canadian market continues to work toward improving itself, Finance Minister Jim Flaherty has said he will consider selling real estate and other Crown assets to help attain a balanced budget. "We are going to review the corporate assets, the capital assets, of the government of Canada, to see whether they still perform a useful function for the Canadian people," says Flaherty. "If that review shows that there should be some assets that should be sold, then we'll go ahead with them."

Vehicle Gateway's CN Tower design plans are in their preliminary stages. However, Mr. Davies was quoted as stating that, "A plan is in the works to have the outer structure coloured green with green solar-powered LED lights also installed throughout." Vehicle Gateway maintains that it will work with Environment Canada to ensure the new tower sets a benchmark in environmental sustainability and corporate social responsibility.

The company hopes that its $78 million bid and re-decoration will excite Canadians. As one of the country's most famous structures, it could well become a glowing green beacon for the ages.



For further information: For further information: or interview requests with a Vehicle Gateway representative, contact Sam Lewis: (416) 662-4676

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