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Great Canadian Gaming Announces Closing of $180 Million Bought Deal Offering of 5.25% Senior Unsecured Debentures

TORONTO , March 2, 2020 /CNW/ - Great Canadian Gaming Corporation [TSX:GC] ("Great Canadian," or the "Company") is pleased to announce today that it has closed its previously announced bought deal offering of $180 million aggregate principal amount of senior unsecured debentures (the "Debentures") at a price of $1,000 per Debenture (the "Offering").

The Debentures bear interest at a rate of 5.25% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, commencing on June 30, 2020 , and will  mature on December 31, 2026 . The Debentures will commence trading today on the Toronto Stock Exchange under the symbol "GC.DB".

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. Great Canadian has granted the Underwriters an option to purchase up to an additional $27 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days following the closing of 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.

ABOUT GREAT CANADIAN GAMING CORPORATION

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.

GREAT CANADIAN GAMING CORPORATION [TSX:GC]
39 Wynford Drive
North York, ON
M3C 3K5
(604) 303-1000
Website: www.gcgaming.com

SOURCE Great Canadian Gaming Corporation


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