ClubLink Corporation

ClubLink Corporation

March 09, 2007 16:27 ET

CORRECTION FROM SOURCE: Significant Shareholders Combine Their Interests in ClubLink Corporation

KING CITY, ONTARIO--(CCNMatthews - March 9, 2007) - This release corrects and replaces the one issued earlier at 3:09 PM ET. Please note the corrected contact information below.

ClubLink Corporation ("ClubLink") (TSX:LNK) announced today that on March 7, 2007 Robert Poile, Paul Atkinson, 1548795 Ontario Inc., a subsidiary of Southwest Sun Inc., and Keofferam Limited Partnership (collectively, the "Shareholders") and 2126521 Ontario Inc. ("Newco"), jointly announced that the Shareholders have agreed to transfer to Newco at closing scheduled on or about April 12, 2007, all of their common shares ("Shares") of ClubLink Corporation ("ClubLink") as well as Shares issuable in the future upon the exercise of options and debentures, pursuant to the private agreement exemption under applicable take-over bid laws.

The press release issued in connection therewith disclosed that the Shareholders beneficially own, in the aggregate, 6,635,300 (approximately 39.12%) of the outstanding Shares of ClubLink and that, following the acquisition of 6,635,300 Shares, Newco will have beneficial ownership and control over 39.12% of the issued and outstanding Shares. The press release also disclosed that, following the acquisition by Newco of the Shares, the Shareholders have agreed that Newco will not vote or take any action with respect the Shares without the approval of the holders of not less than 66.6% of the Newco Shares.

ClubLink was advised that the Shares will be acquired by Newco for investment purposes and that Newco does not have any present intention to acquire ownership of, or control over, additional securities of ClubLink.

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

Contact Information