Baymount Incorporated

Baymount Incorporated

December 12, 2007 11:59 ET

Baymount Incorporated: Mr. David Tsubouchi to Join Board of Directors

TORONTO, ONTARIO--(Marketwire - Dec. 12, 2007) - Baymount Incorporated ("The Company") (TSX VENTURE:BYM) is pleased to announce that, subject to necessary approvals, Mr. David Tsubouchi will be appointed to the Board of Directors ("The Board"). Currently Counsel to the Canadian law firm of Fraser Milner Casgrain LLP, Mr. Tsubouchi is formerly the Chair of the Management Board of Cabinet of the Province of Ontario. In this role Mr. Tsubouchi effectively acted as the CEO and CFO of the Province of Ontario and as such brings a wealth of management and governance experience to the Board. Mr. Tsubouchi has been a member of Baymount's Advisory Board since 2005 and as a member of the Board will continue to contribute to the growth and development of the Company.

Mr. David Carbonaro, Chairman of Baymount stated that, "The addition of Mr. Tsubouchi to the Board is a significant announcement as it is indicative of our ongoing commitment to the best possible leadership and corporate governance. Mr. Tsubouchi played a key role in the resuscitation of the horseracing industry in Ontario, and his contribution to our organization to date has been invaluable."

Mr. Carbonaro added that "Baymount will continue to benefit from access to Mr. Tsubouchi's considerable knowledge and experience and he will make an outstanding addition to our Board of Directors."

Throughout an illustrious career Mr. Tsubouchi has held a variety of high profile management positions in government, business, and law, including Solicitor General of Ontario and Minister of Consumer and Commercial Relations. In the latter role Mr. Tsubouchi spearheaded the introduction of slot machines to horse racetracks across the Province of Ontario which resulted in a revitalization of the industry.

Mr. Tsubouchi commented that, "Baymount has made great strides in the past few months and with the recent financing announcement related to the Quinte development, it is my pleasure to officially increase my involvement and commitment to this organization."

A graduate of Osgoode Hall Law School in 1975, Mr. Tsubouchi received his LL.D. from Assumption University in Windsor in 2006. Mr. Tsubouchi currently sits on the board of directors of Teranet Inc., Hitachi Canada Ltd. and is the Co-Chair of Foundation Markets Inc. Mr. Tsubouchi is also a Member of the York University Board of Governors and is the Chair of the York University Pension Fund Board of Trustees.

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.


Graham Simmonds, President & Chief Executive Officer

For additional information please visit the company's website at

Forward-looking Statements

This press release contains certain forward-looking statements with respect to the Corporation. 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