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Non-Tech : Sungold Gaming International (SGGNF) -- Ignore unavailable to you. Want to Upgrade?

To: Cheeky Kid who wrote (1322)	12/8/1997 5:13:00 PM
From: Cheeky Kid	Read Replies (1) \| Respond to of 5164

Hans R.Banziger, the President of Sungold Gaming International Ltd. ("Sungold") reports: Richmond Downs Racetrack Update Financing Sungold and TAC International Investments LLC (TAC) have signed a letter of intent with regard to the equity financing for the proposed Richmond Downs Racetrack. The letter of intent provides for the purchase by TAC of 4 million Sungold treasury shares at US $6.00/share, by way of a private placement. The completion of the transaction is conditional upon: a) Sungold receiving the appropriate permission from the City of Richmond, BC and from the Province of British Columbia to develop the project, and b) Approval of the private placement terms by Sungold's shareholders at the forthcoming Annual General Meeting to be held on February 20, 1998. The President & CEO of TAC, Donald R.Harris, is the Chairman of Town's Edge properties Inc. of Wayzata, Minnesota, USA, a developer and manager of multiple residential and commercial properties, with assets of over US$100 million and annual revenues in excess of US $19 million. Industry Endorsement The Board of Directors of both the Horsemen's Benevolent and Protective Association of BC (H.B.P.A) and the Canadian Thoroughbred Horse Society, BC Division, (C.T.H.S) have endorsed Sungold's proposal, for the purpose of assisting Sungold in obtaining requisite Municipal and Provincial Government approvals. For more information please contact Kim N. Hart, at (604) 222-3155 SUNGOLD GAMING INTERNATIONAL LTD (signed) Hans R.Banziger President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. Story list Next story