Baymount Incorporated

Baymount Incorporated

November 08, 2006 10:39 ET

Baymount Selects Climans Green Liang Architects For Quinte Raceway Development

TORONTO, ONTARIO--(CCNMatthews - Nov. 8, 2006) - Baymount Incorporated ("Baymount") (TSX VENTURE:BYM) is pleased to announce that its wholly-owned subsidiary Belleville Racetrack Development Corporation ("BRDC") has selected Climans Green Liang Architects Inc. (CGL Architects) as the Project Architects for the development of the new Quinte Exhibition and Raceway ("QER"). In October 2006, BRDC entered into a Prescribed Lottery Scheme Site Holder Facilities Agreement with the Ontario Lottery and Gaming Corporation ("OLG") for the hosting of an OLG slot machine gaming floor at the new QER, a state of the art Standardbred racetrack and Exhibition facility being constructed in Belleville, Ontario.

As a leading full service architectural firm, CGL Architects offers a depth of experience in Racetrack, Gaming and Entertainment projects in Canada and the United States. David Climans stated, "We congratulate Baymount Corporation on the announcement of their agreement with OLG and are delighted to have been selected as Project Architect for this exciting new entertainment destination in Ontario."

"Selecting Climans Green Liang Architects Inc. has been consistent with Baymount's commitment to excellence in the development of the new Quinte Exhibition and Raceway" said Mr. Graham Simmonds, President and Chief Executive Officer of Baymount. Mr. Simmonds also stated that "The experience, track record of excellence, and reputation of CGL is unparalleled in the industry, and pays homage to the distinguished history of horseracing in Belleville. We at Baymount are both proud and excited to announce their involvement in this project."

The new QER will be constructed on BRDC's Belleville property which is located on Bell Boulevard near the Wallbridge-Loyalist Road and Highway 401 interchange. The planned 75 acre development will feature a 35,000 square foot clubhouse and gaming facility and an expandable 60,000 square foot shared paddock and exhibition building that will host the Belleville Agricultural Society.

BRDC also owns an additional 63 acres of future commercial development land adjacent to the new QER development with ten of these acres bordering Highway 401. The company is currently evaluating potential development opportunities for these lands.

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's wholly-owned subsidiary Belleville Racetrack Development Corporation 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. Earlier this year, 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.

Baymount is also pursuing a standardbred racing license for the development of a new racetrack and gaming facility in Brandon, Manitoba. In addition to these exciting development opportunities, Baymount continues to pursue regulatory approval for Instant Racing, a patented electronic horseracing and pari-mutuel wagering system that emulates the very successful slot machine experience. Baymount also owns the FasTrack information product, a proprietary horseracing information product with an easy-to-use design that can be used to introduce new fans to the sport of horseracing.

Contact Information

  • Baymount Incorporated
    Mr. Graham Simmonds
    President and Chief Executive Officer
    (416) 979-2881 Ext.223
    Climans Green Liang Architects Inc.
    David Climans
    (416) 925-8100