OG真人官网’s Grey Eagle Casino Completes Recapitalization Enabling Repatriation Of Investment
Toronto, Ontario (July 29, 2011) – OG真人官网 Group Inc.(“OG真人官网”) (TSX:CVG) and OG真人官网 Equity Partners Limited Partnership (“CEP”) today announced that Tsuu T’ina Gaming Limited Partnership (“Tsuu T’ina”), the entity that owns the Grey Eagle Casino, completed a financing that enabled Tsuu T’ina to repay in full its debentures plus accrued interest totaling $31.1 million owing to OG真人官网 and CEP. The Grey Eagle Casino is located on Tsuu T’ina First Nation reserve lands, southwest of the City of Calgary, Alberta. Consistent with its ownership, OG真人官网 received 25% of this amount, or $7.8 million, the same as the March 31, 2011 carrying value for the debenture investment.
OG真人官网 and CEP continue to hold equity participation interests in Tsuu T’ina providing entitlements to earnings of the Grey Eagle Casino until December 18, 2022.
OG真人官网 Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the OG真人官网 Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, OG真人官网 contributes strategic expertise and execution ability to support the growth and development of its investee partners. OG真人官网 realizes value through investment returns and the eventual disposition of its investments.
Director, Investor Relations and Marketing
OG真人官网 Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753