Gamehost Announces Termination of Arrangement Agreement
Gamehost Income Fund (TSX:GH.UN) announced today that, due to certain proposed changes to the Income Tax Act (Canada) announced on March 4, 2010 by the Canadian Federal Minister of Finance that will adversely affect the benefit to Gamehost of the proposed transaction, it will no longer be proceeding with the proposed transaction with Oncothyreon Inc. and certain of its subsidiaries first announced on February 17, 2010 and that the parties have mutually agreed to terminate the arrangement agreement governing that proposed transaction.
While it is currently anticipated that Gamehost will seek unitholder approval during 2010 to convert into a corporate structure not later than January 2011, Gamehost is currently considering various strategic alternatives available to it and will issue a further press release announcing its plans once an appropriate course of action has been determined.
About Gamehost
Gamehost is an unincorporated open-ended limited purpose trust established under the laws of the Province of Alberta. Gamehost's activities are currently confined to the Province of Alberta, Canada. Gamehost's operations include the Boomtown Casino in Ft. McMurray and the Great Northern Casino, Service Plus Inns & Suites and a strip mall all located in Grande Prairie. Gamehost is a 40% joint venture partner in Deerfoot Inn & Casino Inc. in Calgary.
