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Non-Tech : Lake City Gaming: LCG-V
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To: K. Anders who wrote (114)5/21/1999 11:55:00 AM
From: Jerrold Annett   of 124
 
I agree that LCG should have kept up with the IR. However, they are waiting approval of the sale of Fred's control shares (approx. 70%) to Sprott Securities. After this has been approved...Sprott will take over IR. But, the Government is taking their time with this one, as they are with the Penticton Casino Approval. I think they are being looked at jointly even though LCG has made it clear that they would withdraw the request to sell Fred's shares if it were inhibiting their decision on Penticton. I hear that the Government is getting lawyers involved to determine what is a "control block" and how the sale of this would affect LCG. Personally, I think such a sale would hold the directors of the company more responsible since they would be under the magnifying glass of Sprott instead of Fred. Any bad move and Sprott could dump their position and it would kill these directors right where it hurts...their pocket book. Hope the Government sees it like this!!!

Good Luck.
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