CI Global Asset Management comments on proposed acquisition of Great Canadian Gaming by funds managed by Apollo Global Management

Rhea-AI Summary

CI Global Asset Management (CI GAM) announced that its funds, holding approximately 14.11% of Great Canadian Gaming Corporation's shares, will vote against the proposed arrangement plan with Apollo Global Management. CI GAM currently manages 7,897,552 common shares of the Corporation. No further comments on the Plan will be provided at this time.

Positive

• None.

Negative

• CI GAM's opposition to the proposed plan may hinder the approval process for the arrangement with Apollo Global Management.
• Potential loss of confidence from investors due to CI GAM's vote against the Plan.

CI Global Asset Management (“CI GAM”) announced today that the portfolio managers of its funds which hold shares of Great Canadian Gaming Corporation (the “Corporation”) are not supportive of the proposed plan of arrangement between the Corporation and funds managed by Apollo Global Management (the “Plan”) and intend to vote against the Plan.

Investment funds advised by CI GAM currently hold 7,897,552 common shares of the Corporation, representing approximately 14.11% of the Corporation’s outstanding common shares.

CI GAM will not be providing any further public comment on the Plan at this time.

About CI Global Asset Management

CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $215.6 billion in total assets as at November 30, 2020.

CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2020. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201216005780/en/

FAQ

What is CI GAM's position on the Great Canadian Gaming Corporation plan?

CI GAM intends to vote against the proposed plan of arrangement with Apollo Global Management.

How many shares does CI GAM hold in Great Canadian Gaming Corporation?

CI GAM holds approximately 7,897,552 common shares, representing about 14.11% of the Corporation's outstanding shares.

What might be the impact of CI GAM's opposition on the plan with Apollo Global Management?

CI GAM's opposition could significantly affect the success of the proposed arrangement and investor sentiment.

Will CI GAM provide more comments on the proposed plan?

CI GAM has stated that it will not provide further public comments on the Plan at this time.