Clairvest Announces Sale of Casino New Brunswick

TORONTO, ON--(Marketwired - May 12, 2015) - Clairvest Group Inc. (TSX: CVG) ("CVG"), together with Clairvest Equity Partners III Limited Partnership ("CEP III", collectively "Clairvest"), announced today that it has entered into an agreement to realize on its interest in Casino New Brunswick. The proposed transaction is subject to the consent of the New Brunswick Lotteries and Gaming Corporation and requires regulatory approvals.

Should a transaction close on anticipated terms, Clairvest will receive gross proceeds of approximately $55 million. Consistent with its beneficial ownership, Clairvest Group Inc. would realize 25% of this amount, or approximately $14 million, compared to the December 31, 2014 carrying value of $6.4 million.

Details of the proposed transaction are contained in a news release issued today by Great Canadian Gaming Corporation, which is appended to this release.

About Clairvest
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.

Attachment Available: http://www.marketwire.com/library/MwGo/2015/5/11/11G041319/GCGC_Purchase_CNB_Press_Release-303200997594.pdf