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Great Canadian Gaming Announces Closing of Over-Allotment Option

TORONTO , April 30, 2020 /CNW/ - Great Canadian Gaming Corporation (GC.TO) ("Great Canadian" or the "Company") announced today that, in connection with its recently completed bought deal offering (the "Offering") of $180,000,000 aggregate principal amount of senior unsecured debentures (the "Debentures") at a price of $1,000 per Debenture, the over-allotment option granted to the Underwriters (defined below) was exercised for additional gross proceeds to Great Canadian of $9,000,000 . The sale of the additional Debentures today brings the aggregate gross proceeds to Great Canadian to approximately $189,000,000 .

A syndicate co-led by CIBC Capital Markets, Scotiabank, BMO Capital Markets, and RBC Capital Markets, and including National Bank Financial Inc., TD Securities Inc., Raymond James Ltd., Canaccord Genuity Corp., Industrial Alliance Securities Inc., Cormark Securities Inc. and HSBC Securities ( Canada ) Inc. (collectively, the "Underwriters") acted as underwriters for the Offering.

The Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


Founded in 1982, Great Canadian Gaming Corporation is an Ontario based company that operates 25 gaming, entertainment and hospitality facilities in Ontario , British Columbia , New Brunswick , and Nova Scotia . Fundamental to the Company's culture is its commitment to social responsibility. "PROUD of our people, our business, our community" is Great Canadian's brand that unifies the Company's community, volunteering and social responsibility efforts. Under the PROUD program, Great Canadian annually supports over 1,400 charitable and non-profit organizations across Canada . In each Canadian gaming jurisdiction, a significant portion of gross gaming revenue from gaming facilities is retained by our Crown partners on behalf of their provincial government for the purpose of supporting programs like healthcare, education and social services.

39 Wynford Drive
North York, ON
M3C 3K5
(604) 303-1000
Website: www.gcgaming.com

SOURCE Great Canadian Gaming Corporation


View original content: http://www.newswire.ca/en/releases/archive/April2020/30/c3741.html