Baymount Incorporated

Baymount Incorporated

October 07, 2014 12:44 ET

Baymount Announces Resignation of Chairman

TORONTO, ONTARIO--(Marketwired - Oct. 7, 2014) - Baymount Incorporated ("Baymount" or the "Company") (TSX VENTURE:BYM.H) announced today that David Carbonaro has resigned as its Chairman and as a member of the Board of Directors, effective September 30, 2014.

The Board of Directors would like to thank Mr. Carbonaro for his contributions over the years and wishes him well in his future business endeavors. Mr. Carbonaro was appointed as Chairman of the Board of Directors in 2005 and will remain as counsel to the Company.

The Company's Board of Directors has appointed J. Graham Simmonds as Chairman of the Board of Directors, effective September 30, 2014, who will continue to serve as President and Chief Executive Officer of the Company.

About Baymount

Baymount seeks out and develops investment opportunities within the horse racing, gaming and technology industries. Due to significant changes to government gaming policy within the Province of Ontario, Baymount is no longer focused on developing its horse racing and slots facility in Belleville, Ontario. The Company is currently evaluating a number of new business opportunities.


Graham Simmonds, President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

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.

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