Clairvest Group Inc.
TSX : CVG

May 13, 2008 06:30 ET

Province of New Brunswick Selects Preferred Proponent for New Destination Casino

TORONTO, ONTARIO--(Marketwire - May 13, 2008) - Clairvest Group Inc. (TSX:CVG) today announced that the province of New Brunswick has selected Sonco Gaming New Brunswick Ltd. ("Sonco"), as the preferred proponent to construct, own, equip and operate a destination casino in that province. The proponent's limited partners include Clairvest, Sonco, Navegante Group Inc. and 2050631 Ontario Inc.

The selection as the preferred proponent is conditional on Sonco and the Lotteries Commission of New Brunswick negotiating an acceptable Casino Service Provider Agreement.

An affiliate of Sonco is also the operator of Calgary's Grey Eagle Casino, in which Clairvest holds an interest.

Please refer to http://www.gnb.ca/cnb/news/fin/2008e0683fn.htm for more information from the Province of New Brunswick's news release.

About Clairvest

Clairvest Group Inc. is a Canadian merchant bank that invests its own capital, and that of third parties through Clairvest Equity Partners Limited Partnership and Clairvest Equity Partners III Limited Partnership, 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.

Forward-looking Statements

This news release may contain forward-looking statements with respect to Clairvest Group Inc., its subsidiaries and their investments. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors such as the possibility of the Casino Service Provider Agreement not being finalized.

Contact Information

  • Clairvest Group Inc.
    Lana Reiken
    Chief Financial Officer and Corporate Secretary
    (416) 925-9270
    (416) 925-5753 (FAX)
    Website: www.clairvest.com