CORRECTION FROM SOURCE: Government of Canada Funds Commercialization of Short Track Speed Skating World Cup in Saguenay

SAGUENAY, QUEBEC--(Marketwire - Oct. 31, 2011) -

This document corrects and replaces the press release that was sent on October 29 at 11 AM EDT. The wrong version was entitled "Hotel Motel Danube Bleu Inc. Receives Financial Assistance From Government of Canada".

The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the Event Organizing Committee of Saguenay (CODES) has been awarded $26,480 in non repayable funding to promote, in Canada and abroad, the second stop of the International Skating Union (ISU) Short Track Speed Skating World Cup circuit taking place in Saguenay this weekend, from October 28 to 30, 2011.

"The Government of Canada is supporting the commercialization of the Short Track Speed Skating World Cup in Saguenay because it attracts visitors from all over the world," said the Minister.

More than 20 countries compete in short track speed skating World Cup events, which are rebroadcast by numerous television networks both here and abroad. International promotion of this major sports event will give the Saguenay tourism industry wide media coverage, thereby helping to draw more foreign visitors to the region. Hosting this major event requires an investment in excess of $320,000. The contribution from Canada Economic Development is primarily aimed at maximizing the tourism economic benefits of this 2011 World Cup and ensuring the event greater visibility on Canadian and international markets. CODES has also stepped up its promotional efforts on the Web.

Tourism development is a top Canada Economic Development priority for the Saguenay-Lac-St-Jean. The funding announced today has been awarded through Canada Economic Development's Community Diversification program.

To learn more, visit www.saguenay2011.ca.

Keep up with the latest news from Canada Economic Development by visiting www.dec-ced.gc.ca or subscribing to @CanEconDev on Twitter.