ClubLink Corporation

ClubLink Corporation

November 15, 2007 17:08 ET

ClubLink Announces New 6.315% $51 Million 20 Year Fully Amortizing Mortgage and Redemption of Balance of Outstanding 6% Convertible Debentures

KING CITY, ONTARIO--(Marketwire - Nov. 15, 2007) - ClubLink Corporation ("ClubLink") (TSX:LNK) announced today that it has completed a Canadian $51 million mortgage with Pacific Life Insurance Company. The facility bears interest at 6.315% per annum, is fully amortizing over its 20 year term and is secured by two operating golf clubs.

ClubLink also announced today that it has completed the redemption of the balance of its outstanding 6% convertible unsecured subordinated debentures due May 15, 2008 aggregating to $10,092,000. The debentures were redeemed at a price equal to the outstanding principal amount of the debentures together with accrued and unpaid interest thereon, being in the aggregate $1,030 per $1,000 principal amount of debenture.

ClubLink, founded in 1993, is Canada's largest owner, operator and developer of member golf clubs.

Contact Information

  • ClubLink Corporation
    Mr. Robert Visentin
    Chief Financial Officer
    (905) 841-5360