Press Release: ClubLink Corporation
September 6, 2001
KING CITY, Ontario -- ClubLink Corporation (``ClubLink'') announced that ClubCorp USA Inc. advised the Corporation
that it has sold 5,000,000 common shares in the capital of ClubLink, representing approximately 25% of the outstanding
ClubLink common shares, at a price of $5.00 per share, to Tri-White Corporation, a company controlled by Rai Sahi,
Chairman, Chief Executive Officer and the largest shareholder of Acktion Corporation, a public real estate and
property management company with extensive real estate holdings through investments in Morguard REIT, Goldlist
Properties Inc. and Revenue Properties Company Limited.
Bruce Simmonds, President and Chief Executive Officer of ClubLink said: ``ClubCorp advised that it chose to repatriate
certain of its equity investments, including the shares of European PGA Tour Inc. and ClubLink, all in a matter
of days, for U.S.-based investments and to pay down debt. They have told us that they remain confident in the future
of ClubLink, particularly in light of the many steps that have been taken recently to improve ClubLink's profitability.
We are pleased that ClubCorp has retained an interest in ClubLink and that Jim Hinckley, ClubCorp's President and
Chief Operating Officer has agreed to remain on the ClubLink Board of Directors and we look forward to continuing
to benefit from his judgement and experience. ClubCorp will retain its strategic alliance with ClubLink as well
as the Affiliated Club program and related arrangements valued by so many of our members.``
ClubLink is Canada's largest owner, operator and developer of high-quality golf courses and resort properties that
feature golf as their key amenity.
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Mr. Robert Visentin
Chief Financial Officer
rvisentin@clublink.ca
(905) 841-5360
ClubLink Corporation
15675 Dufferin Street
King City, Ontario L7B 1K5
Telephone: (905) 841-3730 Facsimile: (905) 841-1134
Web Site: www.clublink.ca
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Contact:
ClubLink Corporation
Robert Visentin, 905/841-5360
rvisentin@clublink.ca