Baymount Incorporated
TSX VENTURE : BYM

Baymount Incorporated

June 05, 2008 19:05 ET

Baymount Announces Next Steps to Begin Construction of Their New Quinte Exhibition and Raceway

TORONTO, ONTARIO--(Marketwire - June 5, 2008) - Baymount Incorporated (the "Company" or "Baymount") (TSX VENTURE:BYM) is pleased to announce today that that they have named Metron Construction as their 'Construction Manager' at their new Quinte Exhibition and Raceway site and that Minwell Construction has been awarded the contract for site mobilization.

"It is an exciting time for all of us at Baymount as we can now see the starting line in sight for construction to begin at our new Quinte Exhibition and Raceway," said Graham Simmonds, President and CEO of Baymount. "Today's announcement is an important one and puts us in a ready position to move forward."

In the next few weeks Baymount will also be introducing a new website where one of the new features will be a section designated to providing regular construction updates. Please stay tuned for further updates.

"On all fronts we are getting prepared for construction to begin," said Simmonds. "We have been working very hard over the last several months to make this project happen and we are now almost there."

About Baymount

Baymount seeks out and develops opportunities within the horseracing industry. It is the Baymount philosophy to create entertainment destinations for consumers while providing our investors with a vehicle that allows them to participate in the growth of Canadian gaming at racetracks.

Baymount Incorporated's wholly-owned subsidiary Belleville Racetrack Development Corporation ("BRDC") has an agreement with the Belleville Agricultural Society to build a facility to relocate the Quinte Exhibition and Raceway in Belleville, Ontario. QER is one of the 18 racetrack licenses in Ontario eligible to participate in Ontario's Slots-at-Racetracks program. In 2006, the Alcohol and Gaming Commission of Ontario found BRDC suitable to act as Landlord for the proposed OLG gaming premises to be located at the new QER. The Company has also received Preliminary Approval for a License to Operate a Racetrack from the Ontario Racing Commission.

ON BEHALF OF BAYMOUNT INCORPORATED

Graham Simmonds, President & Chief Executive Officer

For additional information please visit the company's website at www.bym.ca.

Forward-looking Statements

This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Baymount Incorporated
    Mr. Graham Simmonds
    President and Chief Executive Officer
    (416) 979-2881 Ext.223
    Email: graham@bym.ca
    Website: www.bym.ca