'604-272-1736 KEN HP1RT R E R LT Y LT D .

/ 091 P01 JUN 30 '97 17:39

Editor M o n d a y, June 30, 1997.

Richmond NEWS

Just in case youvmissed today's wire service news I enclose

a copy of a news release from Sungold Gaming International Ltd.
which should be of great interest to Richmondites, The
Vancouver Sun's business writer followed up on the wire service
release today. For a change you could come out with the see
same news on the same day (Wednesday) as there is no Sun on ..Tuesday.

Richmond was once a great racing town with two

tracks: Brighouse and Lansdowne. Both are covered with
major shopping centres now.
RICHMOND DOWNS" , as described in the press release,
would be located in a rural setting, appropriate for the
"sport of kings", It would bring a world class racing
facility to Richmond similar to the famous Hong Kong
race track, of which man/ former Hong Kongers are familiar.
As the press release says, completion of this
facility "will put Richmond on the map as a major tourist
attraction."
For further information, contact Kim-N. Hart,
vice president of Corporate Affairs for Sungold at 222-3155.
P.S. Your morgue should havs some interesting photos .of VIPs
attending races at Richmond's tracks. 1 know that Gary cooper
presented the winner's trophy in one picture.
 6 W Z 7 2 - 1 T 3 6 K b N H R RT R E A LT Y LT D . 0 9 1 P 0 2 J U N 3 0 ' 9 7 17:39
16/30/199? 8 11 3 5 P f l P r o m : I g 0 N i - 8 B 0 - 8 B 8 - H 7 3 B To : 8 8 H 2 7 2 1 7 3 6 P a o 1

FOR IMMEDIATE ATTENTION

ISDN Wire Service

SUNGOLD GAMING INTERNATIONAL LTD.

1300 Park Place, 666 Burrard Street
Vancoiver,BCV6C3J8

June 30th. 1997 Trading Symbol; SUM

I2g3-2(b): 82-2157

NEWS RELEASE

Hans R. Banziger. the President of Sungold Gaming International Lid. ("Sungold")

reports:
Bureau of Indian Affairs (BIA) proposes Federal Acknowledgement for the Match-e-
be-nash-she-wisb Band of Potts watomi Indians, a.k.a- the Gun Lake Band

The Assistant Secretary for Indian Affurs, Ada E. Deer, on June 23rd, 1997 found that
the Gun Lake Band meets all seven of :he required criteria in the Code of Federal
Regulations and therefore qualifies for a Government - to - Government relation with the
United States. The BIA's positive fmdug confirms the Band's existence as an Indian
Tribe within the meaning of Federal Law and consequently proposes lo extend Federal
Acknowledgement to the Tribe. The finding is subject to a 180 day public comment
period after which the BIA will issue a final determination. While the comment period is
routinely part of the Regulations, the Gun Lake Band feejs that in view of the unique
status of their petition, a request for a waiver or a shortening of the comment period is
justified.
Racetrack Proposal / Richmond Downs

Sungold has entered into an agreement to purchase 230 acres of land, strategically
situated in the quiet farm lands of North East Richmond, BC. Located 11 KM from
Vancouver International Airport and 20 KM from downtown Vancouver, the property has
a panoramic view of the Vancouver sk yline and the surrounding mountains. Soil
conditions are remarkably similar to the grounds of the old Brighouse Park which was
regarded as a world class surface by th i horse racing community. Sungold will consult
closely with all levels of Government find with the Horseman's Benevolent and Protective
Asssociation to structure a "made in BC" format for a world class 1 1/4 mile race track -
complete with a 1*1/8 mile turf track and a 1 mile training facility.

During the past 10 years horse racing ii BC has declined dramatically, in real terms,
largely due to competing forms of gaming and outdated, obsolete facilities. Currently,
horse racing accounts for less than 13 ] percent of the Gaming Industry's profits in BC.
Recently many good horses from BC have been racing in California where they enjoy
superior facilities and substantially higher purses.
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. .
*EL ABRAMS president and CEO travelled a complicated route from Boston to Vancouver.-
NORMED SPROUTS IN LANGLEY
h Columbia's newest *
naceutical company celebrates
ening in a stul-ujifinished lobby.
.AMPHIER
scmenr Reporter . . . -
"Then Michael Abrams and Chris Orvig .*.'..'
J first met as grad snideries in chemistry at-
Boston's prestigious Massachusetts In- :
of Technology in 1979, their friendship.,
the seeds of a promising future venture,.'.. -
week, chose seeds finally sprouted in a :
nlikery placea nondescript indusrrial
Langieywith the official opening of the '",
i.OOO-square-foot headquarters of. ' :',
ed, British Columbia's newesr pharmaceu'-'-
m p a n y. . .'.'.. -\'\'-
blue-chip financial backers, a naif dozen % \
roducts in the research pipeline (including '
unds aimed a: treating AIDS and various/
>f cancer), and S20 million in its treasury, *.
ed is already making waves in the *
:e's tiny pharmaceutical sector.
I were in Palo Alco (California's biotech
] or Cambridge, Mass., -we'd be company..
*n GA PLTTiCP* in IT r v n r r Y rvnrr
I D :
BILL K E AY / Va n c o u v e f S u n
No. 500 with anotner interesring story," conceded
. -Abrams, as AnorMed's 20-person staff and a cou-
: pie of dozen well-wishers celebrated the compa-.
. tt/s opening in a still-unfmished lobby.
It would be very difficult to attract the kind of
attention we've been getting here. We're a bitof a
- star in this scene. I'm not saying that to boast. I
> just think that's reality, and it's made it easier to
' attract employees and find [research] collabora-
.'.dons to attract investment people.": : :' .':.
.' Hhe route by which .AbramsAnorMed's presi-
dent and CEOmade bis way from Beantown to
-ine Taiirbrs of Lotiislahd is complicated./ .'.
i r -Aftermore than a decade spent working in the
Phuadelphia-based pharmaceuticals research
' ,.Johnson
unit of British-based materials
Matthey, Abrams technology
accepted giant
an invitation
' from Orvjgby then a UBC chemistry professor
.co
1 i "Socome
I cameto out
the here
WesttoCoast..
UBC in January of 1995
to' give a seminar and to discuss some of the things
he (Orvig] was working on c^rnmerrializing,"
said Abrams, whose personal successes include a
i patented diagnostic imaging agent called Cardio-
PLzaseseeMDS.D*
PA G E 2/9
I
Top calibre - j
3 I
horse-racing -J
track proposed!
for Richmond?!
The facility would create
up to 7,000 new jobs, v
Sungold president says. ""|
DAVID BAINES
Sun Business Reporter ,' "^
A Vancouver Stock Exchange compat
ny wirh a history of dicey promotions i
proposing to build a "world-class"
horse-racing facility on 93 heaares'-op
farmland in Richmond. . 1
Hans Banziger, president of SungoM"
Gaming International Lid-, said in a re-1
lease Monday that the facility, to.bfcj-;
called Richmond Downs, will be "Trie
biggest horse-racing attraction outside-
o f H o n g K o n g . " ' " T; ' *
"Financial support exists for the cdri-
struction of a world-class facility offer
ing purses competitive with those in
California and Hong Kong." he said. ;r,-'
Banziger said the facility which*
will create up to 7,000 new jobswill'
fearure a "world-class" 1 V4-rniIe race
track, an "exclusive" turf club and othf
"state-of-the-art" facilities. ft"
He said soil conditions are similarity
the old Brighouse Park race tracks
"which was regarded as a world-class'
surface by the horse-racing community^
He said Sungold is retaining a "wwKt
class designer" to create a facility rijar"
"will put Richmond on the map asaiQg;.
jor tourist attraction." .__*
To provide ready access to the fadfijy,,
the company "plans to engage a tapir-*
oughbred airline which win ofreriegiflar.
scheduled flights to and from Ho3ng(
Kong, California, New York and KejriV
rucky"hesaid. ' .. . j*-
Banziger did not menrion.SungordX
much-touted casino projects in South to-
rea, which helped propel the company's.,-,
stock price to S1750 in late February. -J'
Several Sungold directors, mdudinz
Memphis Mayor Willie Herenton, toS^
advantage of the buoyant stock priceta
sell thousand of dollars worth of stocky
Then Union Seotriries,' which was topttV.'
videa due diligence report on rhecomp^
n/s projects, withdrew as the company^.
sponsor and V5E officials halted trading."''.
Exchange officials say trading will fe:'
Plmvszt Suxtgold,.
 PA G E 3 / 3

y^UllgUlU Utf,MllU JJiaild ll\Ji iv.vv^ai^u.

Gonrinuedfivm DI gaming business, announcing two casi and Mariene Hart of Richmond-
no projects on Indian reserves in Ari Ken and Mariene are substantial Sun McCain sa}
main halted until the company's new zona and British Columbia. Neither was gold shareholders. In October, they makes it m
sponsor, Merit Investment Corp., pro built. bought 25,000 units each unit con
vides a satisfactory due diligence report. Last October, Banziger announced the sisting of one share and a warrant co FLORENCES
Foods says its
Sungold has never revealed how it South Korean casino projects, and hired buy another share from the compa
chase of the ft>
plans to finance the casinos,-which investor relations specialist Kim Hart to ny at 52 each.
Those shares are subject to a one-year Ore-Ida Foods
would cost several hundred million dol help promote the company.
lars each. It is also not clear that the Hart is a former Amway sales rep who hold period and, in any event, are es Brunswick coi
South Korean government will provide helped promote VSE-listed Goldrush sentially worthless until the VSE allows spot in frozen f
the necessary permits and licences. trading to resume. er sales in the I
Kim Hart refused to say how much The deal wid
Also in question is the stock market
"Gaming in B.C. is very the over-all project would cost, but in of HJ- Heinz,
history of Banziger and former co-di
rector David Valpy, who resigned from sensitive, as you know. We sisted it is "eminentryimanceable... We cessing opera
don't want to do anything in a have people who are willing to provide and Burley, h
Sungold's board two weeks ago.
In 1988, while serving as directors of financing if we can get all the ap plants in Fort
pushy or aggressive way." Lake, Wis., anc
VSE-Iisted Totem Capital, they an Kim Hart provals"
nounced several breakthrough medical But he refused to identify them. Wrththe five;
therapies, including a "proprietary Banziger stated in his release that nearfy 5,500 et
malaria diagnostic procedure" and "a Casino & Mining, which soared to $20 Sungold "has received endorsement for McCain hast
novel therapeutic approach to the treat in 1993 on the basis of a hotelrcasino in this project from a number of promi 10 countries ;
ment of AIDS." Colorado. The project was never built nent horsemen." He did not mention more than $5'
The stock soared to $55/8, then col and the stock is now trading at pennies. any names and Hart declined to say calyear.
lapsed to SI.80 by year end when In an interview Monday, Hart said the who they are.
Banziger and Valpy quit the board. race track will be located in northeast Asked whether the company plans to Microsoft c
They then acquired control of Sun Richmond on farmland which is cur proceed with the South Korean casinos,
gold and announced several other pro* rently in the Agricultural Land Reserve. Hart replied: "Absolutely, but there's TORONTO-
jects including: "We're not revealing the exact loca- nothing new to report in terms of get acquired Link
Q The Voice-Cap System, which "al tior} as yet. Gaming m B.C is very sen ting approvals from the Korean govern Toronto-base*
lows a golfer to determine by user- sitive, as you know. We don't want to do ment." software.
friendly telephone his or her latest arrythingmapushyoraggressrveway." He said Merit's due diligence report Financial de
handicap within minutes of completing He also refused to reveal thepurchase will deal with all aspects of the compa were not relea
a round of golf." price. ny's business affairs, including the pro LinkAge, fot
Q The Rabbit Ovulation Monitor, a "You'll have to ask Hans Banziger. I posed racetrack. ops software tl
"hand-held, battery-operated comput don't know if he wants to disclose that." So far. he said, the company has not saging system
erized device... to help a woman deter The property purchase, which is sub contacted any municipal or provincial organizations.
mine her period of ovuladon.'" ject to unspecified terms and condi government officials. LinkAge sof
Neither deal was consummated. tions, is being brokered by Hart Realty, "No point in talking about something of Microsoft
In 1993, the company moved into the which is owned by Hart's parents, Ken untilyou are in a position to talk-" Notes to shar
document link
crosofrsaidin
Theaddiuor

ELK. residents prepared for handover buUdonMicrc

CanxinuedfromDl
over changes will mostly be symbolic,
such as removal of royal coac-of-arms
and other British reminders.
"Most people were prepared for the
handover. Most people remain pretty
upbeat," said CouLl, chair and CEO of
Hong Kong-based Credit Lvonnais Se
curities (Asia) Ltd., one or the largest
merchant banks and brokerage firms in
Southeast Asia.
The process has been going on for a
long, long time."
Coull, a Vancouver expatriate, said he
expects the stock and property markets
co remain high.
"People see the economy looking
good until mid-1998 in China, and
Hong Kong is plugged into that. The key
to Hong Kong's future is development
of the sen-ice sector."
Y.C. Chow, chair of Chevalier Inter
national, the territory's largest diver
sified engineering firm, said he doesn't
ocrccivc significant changes under
with Lotus cc;
Novell Group
Canada and China," Chow said of oth aren't are missing the biggest business saging softwa
er long-range plans. opportunity in the world."
Some entrepreneurs criticized the Paul Lam, head of New World Insur Zurich buy
Western media's negative portrayal of ance group, said he was encouraged by
handover-related events that overem Tuesday's announcement by Hong NEW YORK
Kong's new chief executive. Tung Chee- ant Zurich Gr
phasized China's deployment of 4,000
Hwa, thatthe government plans to pro American ass
Peoples Liberation Army troops into the Stevens & Gar
territory carry Tuesday. vide more housing and make home
Under the Sino-British accord gov- ownership more affordable. US in the late
inthefinanda
The high cost of housing is a major
concern in Hong Kong. This [Tung's The deal *
"The high cost of housing is a
proposal] will help reduce the cost of Group s Chica
major concern in Hong Kong. per Investment
doing business in Hong Kong," said
This [government proposal] has some S80
Lam, a former Toronto resident. This is
will help reduce the cost of a very encouraging sign. management
doing business in Hong "We should feel better that Tung is in Scudder/sSi;
control, and talking about how to make and asset man
Kong.This is a very
Hong Kong businesses more competi Zurich will*
encouraging sign."
tive. I believe in Mr. Tung. new firm to 1
Paul Lam
He is a person of sincerity and is very Kemper Invest
genuine in trying to achieve his goals." for $867 mOJKi
Vancouver expatriate Lucy Chow, 31, triburionofZt*
eming the return of sovereignty, China
takes over responsibility forrjaiional de said most of her young Chinese-Cana based Zurich V
fence from the British, who in the past dian friends here are "upbeat and posi Senior empl
statioried more than 10,000 troops tive" over the handover. perlnvesrme
here, they pointed out "All of them came to Hong Kong to cent of the ner
 COMMENTARY
The tortuous tale of Sungold
{
CALGARY
whose shares liave soared high In
IT'Sthe
a past based
Junior on the
venture potential for
company
future riches, but trading in Its stock
ivas halted awaiting information from
the company. No, It's not Bre-X Min
erals, It's Vancouver-based Sungold
Gaming and right now there are
thousands oi Investors wondering
what's going on with its various ca
sino ventures.
Any remaining shareholders of
Sungold must be awfully thick-ski
nned by now, since the stock has
had a pretty rough time of It over
the past six months. In November,
the shares began rocketing upward,
after spending two years hovering
around the $2.50 level. The climb ap-
l>eared to be based on high hopes for
two casino developments In South
Korea.
The stock was halted by the Van-
:ouvor Stock Exchange In early De-
:eniber, however, when it hit $11.50.
The shares would be halted for more
than three weeks, after which began
a roller-coaster ride of announce
ments and rumoured announce
ments, gyrating share prices and
two more trading halts. The stock
was last halted on Feb. 26 and hasn't
traded since.
Sungold president Hans Banziger
refused requests for an interview,
3ut did agree to answer questions in
writing. He said this was because his
;orapany aJid several directors had
seen the subject of personal attacks
n the media.
T
Mathew Ingram
Business West
One of the things some observers
have focused on Is the fact that Sun
gold director David Valpy also was a
director of a VSE-l!sted company
called Teclmigen in the 1980s. Tech-
nlgen was a spectacular stock pro
motion that flamed out when the
company's claims of multimillion-
dollar sales of its computerized golf
driving range failed to materialize.
Bven apart from Mr, Valpy's back
ground, however, Sungold itself has
an Interesting history. In 1988, it was
known as Flrcrest Resources, and
was pinning its hopes on a bug-re
pellent device called the Skeeter
Skatter. In 1991, It became NTC Cap
ital, and planned to get into the tele
communications business. By 1992,
it was promoting products such as a
baby pacifier that used audio cas
settes. In 1993, It boughl Phoenix*
based Sungold Gaming.
Sungold spent two years working
on casino projects involving Native
American bands, but none came to
fruition, Trading was halted last De
cember because the VSE decided the
South Korean projects, which the
company had said in 1998 it was
working on, would constitute a
"change of business.'' When a Junior
company undergoes such a change,
11 Is required by the VSE to meet ad
ditional tests in order to continue
trading.
The shares were halted for three
weeks before the VSE allowed tra
ding to resume on the condition that
Sungold acquire a "sponsor" a
brokerage firm that would oversee
the company'6 listing requirements.
A small Vancouver firm called
Union Securities agreed, and the
stock resumed. In January, however,
It fell more than S3 in a single day
and the VSE halted It again, letting
it resume when the company said
there was no news,
The stock soon began to rise, mov
ing past the $14 level. The company
then announced that it had signed
two agreements one to operate a
casino near a proposed International
airport lo be built outside Seoul, and
the other a planned casino and re
sort in another part of South Korea.
Together, the two projects would
cost a total of $700-million. The stock
proceeded to climb past $16.
After dropping back somewhat,
the shares started to rise again,
climbing above the $19 level in Feb
ruary only to be halted on Feb. 26.
Sungold said Union Securities had
been unable to prepare a due dil
igence report that was to have been
delivered to the VSE by Feb. 28, and
that the brokerage had resigned as
the company's sponsor.
Thursday, April 3, 1<
The stock has now been halted fo
well over a month, and there has
been little news of any kind. Not
oo ly has the company not found a
new sponsor, but there has been no
news about financing for either
South Korean venture. There also
has been no news on the company's
other proposal, a Joint venture with
the Gun Lake native band to build a
casino In Michigan.
There are a couple of major
hurdles to clear there as well, ad
mitted Mr. Banziger, Sungold's pres
Ident. For example, the Gun Lake
band has not been recognized yet by
the U.S. government, and even when
that occurs Sungold has to provide
the land for the band's reserve
which would then include the
planned casino.
led Carter, a Calgary-based In
vestment newsletter author, has
been a staunch supporter of Sungold
for more than a year. "It's a very
speculative stock," he admits, "but
the potential if they go ahead wUh
even one casino Is pretty huge."
Using the kind of revenue generated
by the casino In Windsor, Out., for
example, Mr. Carter says the com
pany could make profit of $10 a
share.
Of course, it would actually have
to go ahead with one of Its projects
In order for that to happen,
Business West readers can reach
Mathew Ingram by fax at (403) 244-
9809 or by E-mail al
tmngram@globeandmail.ca
A U G - 1 3 - 9 7 11
1 = 0 4 1F R O M- ;- 04 FROM = ID = PA G E 5/9
-: C - V
" -i iry'.y !****

.; .. -.-.,.?-> - ->- >': ' -?,-*! ' 1 jectsi *"i4rt i^iis^-ri-'^kiQT^^^i '
News of a prospective casino t;anziger told shareholders that Sun-,
>ld isnegotiating with several"^major.
project has hiked the stock's players" in the casino industry topn> .
price, but has also attracted vide capital and expertise, but he said
some critical media attention. beis -^atWxrtfyo #sda^^_mey
; a^l^ptm
r e . ' - assureyr^&atrliiernoment
^r ^ ; ^ , ^ - - r. . \ i t ^ c i < Ti s r ^ ' ^ ;
DAVTDBAiNES
Sim Business Reporter -....'.. ihathappens, we will.make .rheanr
.The prudent of VaHcouvir-based . P!g?gg3^*<$g*|^:
Sungold Gaming XxicJ assured share- eluded a Korean television newsreport^
holders Tuesday that they shouldn't be on the casino projects there. _ 1JV, gj !. ^
concerned about their invesrrnent in the . 1r7s all positive^ said direCtorHenry;
company. '..-'-. -'&"&"'"'' &'. Schwang, in case shareholders were
"In spite of what some of the media wonderirigwhatwasbeingrerrted.
say aboutme or other members of man f Neither Schwang or Banziger re-.; ^
agement, I really don't thinkhere is any ferred to a Jan. 23 report in the Korea,
cause for alarm," Hans Banziger told Times stating that Korean casinos,
about 70 shareholders at the company's which are open only to non-residents,
/ CORPORATE It A
annual meeting. ' j
The admonition was not really need have
ed Shareholders of the high-flying Van
suffered a 18.3-per-cent decrease
in customers and revenues last year;
It quoted a casino operator as saying:
/ oauiri/ Jflfci
couver Stock Exchange company were Ifrhe currenttrend continues into next
clearly more elated than alarmed at , year, more than half of the 13 casinos
OVffi 30,000 BR
whattheyhadseenandheard. will have to shut down." .;.-_:.>* %
"I think it's miraculous," said one
shareholder, referring to the fact that edAmong the shareholders who anend- V TKHISHCI4M AVi
the meeting were Richmond realtors
Sungold. with total assets of only $1*7 Ken and Mariene Han; parents of Sun-
imllion, had becomeakey player in two
ATAUIOCATIO
casino projects in South Korea worth gold investor relations consultant_Kim
Hart. *. ..,.,:..':'. -.^J::":oi;>r
hundreds of millions of dollars.
The first is a joint venture with Insung unit They bought 25,000 units each .(i:.- / FOR 0f MCAftD
consisting of one share and a war
Development Co. to build a casino re rant buy another share far $2 each.
sort on Shindo Island near the new At Tuesday's closing price, their
CALL 1-888-5-a
Seoul International Airport Banziger
said Sungold is responsible for financ S50,QO0 investment was now-worth
more than $800,000. :.^--
ing the casino, which could cost $400 Ken Hart told shareholders that short-
million. . ,
The second is a joint venture witn sellers, who are temng on a future stock '
Choong-Nam Group to develop a $300- decline, had sold about 200,000 shares-
million US resort south of Seoul. Sun stock Hart noted that, after a three-for-one
split shareholders approved at the
gold is responsible for raising half that meeting, that figure will triple. He asked
amount.
whether there was any way sharehold
Sungold is also working on a prospec
tive casino project with the Gun Lake ers could legally discourage short:seU-
native Indian band of Michigan. No fi e r s . * ' *- '/''
nancial derails have been provided. Bariziger said he wasn t aware or any^
The news has hiked Sungold's stock but noted that in the long run, it is ben
eficial to have short-sellers because at
price from the $2.50 level in November some point they will have to buy shares
to an all-time high of $19 on Monday ...-ft
to coyer their short position, which will xrefenitti
($17.10 by Tuesday's close). Ideal for Notebooks
But it has also attracted critical press drive up the share price. x .BmrMsd
Willie Herenton, mayor of Memphis Toudipodi
coverage and a large number of short- and a director Sungold for the past two
sellers betting on a future share price
^Megahertz
3l6ttpsKCqni
dedine. years, told shareholders he had previ G*** Modem
The coverage has centred on ously served as a director of Harrah's, Based on V34
one of the largest gaming companies
Banziger's history of dicey stock deals, the United States. ... . : -, :": 'v . - in aandoid
Easy outanoW/.
which have included a treatment for p Installation
AIDS and a method for diagnosing He said he became a director after "a
malaria. . great deal of analysis... I joined this
Asked byone shareholder whether he company because I felt, quite frankly,.
is selling any stock, Banziger replied: tremendous growth opportunities " ,
Tersonalry, I am not selling my stock. I Asked whether he was aware of
can assure you of that... I'm not a pro- Banziger's track record, he replied: "I
morer as I am sometimes shown to be. was not aware of that until recently. It
. ;The media has also .questioned how was nothing disturbing to me, but obvi PRINTERS/SCA
the cr^mnariv"will finance its casino pro^ ously more than I knew." ' ^f *:# *>0fc
^#Hfr*in **
 A U G - 1 3 - 9 7 11 = 0 5 F R O M : ID ! PA G E G/9

msiory 01 wiiu piuiuuuuua WtMih

behind Sungold backers

DAVID BAINES Banziger and Valpy quit the board.
Sun Business Reporter In 1989, Banzigerbecame vice president of mar-
The promoters tefiind Sungold Gaming Inc., a kgrirgforV5E-listi^FircrestResources (theprede-
Vancouver Stock Exchange company whose stock cessorro Sungold), which was touring an elluv*-
has soared on the basis of two mumVmillion-dol- ic mosquito repeUer called the Skeeter Skarrer. Lat
lar casino projects in South Korea, have a history of er that year, Valpy joined Banziger on the board.
Under their direction, the company abandoned
wild stock promotions.
the Skeeter Skarrer and moved into several other
During his decade-long career on Howe Street,
Sungold president Hans Banziger has promoted produce;; mciudmg:
The Voice-Cap System, which "allows a golfer
projects as diverse as an AIDS treatment, a baby to determine by user-friendly telephone his or her
pacifier and a device for calculating golf handicaps. latest handicap within minutes of completing a
Co-director David Valpy has also been involved
in a string of dicey stock promotions, including a round of golf" -iU-1
Q The Audio-Cassette Baby Pacifier, ~a 90-
computErized golfing machine project that caught rrunute audio cassette of special non-musical pro
the attention of local securities regulators.
And Kim Hart, who Sungold has hired to pro gramming designed to soothe a fussy baby.|*
Q The Rabbit Ovulation Monitor, a "hand-held
mote its stock, was mstrumenral in muting anoth
er would-be gaming company that promised, but battery-operated computerized device that uses
never delivered, a hotEl-casino project in Colorado. the measurement of basalbody temperature to
But Sungold president Banziger insisrs that Sun help a woman detennine her period of ovulation."
Noneof these projecrsprtn^ very fen^
gold, which jumped another $1.60 to $15.60 on
Monday for a total stock market value of about cenrs September
er.By 1993, mestrxkhadslunpediD57
and the company arirrouriceditwouldroninto
$75 millionis different than the others.
"It's not a stock promotion, in spire of what some the garning business by acquiring Sungold Gaming
of Pheonix, Ariz. The deal was consummated, and
people are saying,'' he said in an inrerview Monday. the VSE company assumed the Sungold name.
Sungold has announced a joint venture with In- That December, Banziger announced an exclu-
sung Development Co. to build a casino resort on sive
Shindo Island near the new Seoul International agreement with Skway First Nations band to
airport No financing details have been provided. develop a $15 million high-stakes casino on the
It has also announced a joint venture with Chilliwack reserve, to be operated by Comstock
Hotel Casino of Las Vegas.
Chung-Nam Group to develop a S300-million US In April 1994, Banziger announced another
resort south of Seoul. Sungold is responsible for

100
raising half that amount prospective garning and resort facility on an Indian
Alrhough investors apr^excrariwrm reserve near Yuma, Ariz., that could exceed $100
is by no means clear how Sungold, which has assets minion. That month, Sungold peaked at $8.75, but
of just over $1 million and has not yet developed a neither of these casino projects, orthree others an
nounced by the company, ever materialized. By the
single casino, can pull off such mega-projects.
end of 1994, the stock had reverted to S2-
One of Banziger's first VSE deals was Totem Cap The stock moved laterally until October 1996
ital, a failed mineral exploration company which which Banziger
when announced the Korean deals,

oLtb
was Krnping along at seven cents a share in June were formalized during the government's
1988 when he became a shareholder and director. Team Canada Trade Mission in early January.
The following month, he was joined by Valpy, Meanwhile, the company historically a heavy
who was still serving as a director of Technigen spender on srock promorion rjurchased adver
Corp., a VSE company that had announced a con tising space in the Hot Stocks Review, published
tract to sell $116 million worth of the company's by Florida stocktipster George Chelekis.
It also hired Idea Network, an investor relations
computerized golf simulator machines to a Swiss

to
marketing company- The stock soared to $16, then company owned by Kim Hart, a former Amway
it was revealed that the Swiss rnarketing company salesperson who handled investor relations for
was really a Pariamanian-regisrered shell company VSE-Iisted Goldrush Casino & Mining.
In an interview Monday Hart said, "Sungold is a
represented in Canada by a former convict who had
been banned for life from the B.C. stock market very conservative company, believe it or not"
Predictably, the sales never materialized and the "Sungold doesn't try to reach for something they
stock collapsed. The B.C Securities Commission don't have within their grasp. You understand what
later suspended Nesis from the stock market, but I am saying? I suggest you give Sungold some
Valpy was not accused of any wrong-doing. breathing space before you conclude it's going to
become another Goldrush. Give the company an
With Banziger and Valpy on board. Totem an
nounced a series of proposed acquismons. They in other couple of months. It's just the fxgirming. If s
To create jobs, we
cluded rights to a "proprietary malaria diagnostic just a virgin/7
procedure." a "diagnostic testing appli- _^^_
a Small Busine
cation forrheumaric disease and "a novel :. " _ -ipi
therapeutic approach to the treatment of ...ambitious?
AIDS." '
The stock soared to $5 /g, then col- %ftfy$i&$SI&$
>
*.
lapsed co SI.80 by year end when Yvor*r<i>i?ccT\n? At-HRC
 BUMNO WINHRALa OOftP MAflOH, MATTHBM 48 0 *CM 10-31-1998 26 138 1.390 Jr2S,039
sungold awixa inc ttALPK, DAVID C. 0 CM 11-19-1996 76 20,000 0 a. eo
0 ON 11-1B-199C 20,000
0 20,000 6.3S0 0
0 OM u-oa-i9e 76 20,000 0 a. 090
0 *CM ia-oa-u>9 20,000
0 2,000 9.900 16,000

Edition 97:6
124
February 7, 1997

BCSC Weekly Summary

Chapter 9

niaiUBR 9RADIN0 BBPOR.T F0(H PERIOD SNDIHd Pebniary 7th, 1997

Paga 29
BBC 1RAKSACTXCH
ISSUBH UNIT
insider R B L M O W K B R C L A S S D AT S N AT U I J H A C Q U 1 R B D WAT U R H M A P 0 3 B D PA I C B BALANCH

VALPY, DAVID C. 0 *tw 12-02-199* 0 3,000 e.soo IS,000

0 *CH 12-01-199$ 0 3.000 9.100 12,000
0 *cm 11-02-1994 0 3,000 6.700 9,000
0 *CM ia-02-)99< 0 3rO00 9.2S0 6,000
0 cm 11-03-1996 0 3,000 9.100 3,000
0 CM ia-oa-i99C 0 3,000 a. 900 0
0 GN 01-18-1997 7 10,000 0 2.990 10,000
0 CM 01-15-1997 0 1,500 13.100 9,500
0 CM 01-H-1M7 0 1,800 13.350
0 7,000
CM 0 1 - l f f - l fl 9 7 0 2,000 13.490
0 CM S,O00
01-15-1997 0 1,000 33.6S0
0 4,000
CM 01-17-1997 0 1,000 14.000 3,000
0 CM 01-17-1997 0 1,000 IB.ISO 1,000
0 CM 01-17-1997 0 1,000 14.2S0 1,000
0 CM 01-17-1997 0 900 14.900 100
0 CH 01-17-1997 0 100 14,060 0
0 OP 11-19-1*95 0 7G 30,000 a. 390
0 30,000
OP ia-oa-199* 0 78 ao,ooo 3.890 10,000
0 OP 01-15-1997 0 76 10,000 a.eao 0
SHAlftlBLL HINBRAL3 CORP MOOHBY, JOHN PAUL 0 CM 01-07-1997 0 10 15,000 0,300 11 0 ,0 0 0
01 0 CH 01-07-1991 0 to 5,000 0.340 105,000
n TA H r a v fl t b o h k o l o o v i h c BOWBLL, JAMBA 1 C M 11 - 0 9 - 1 9 9 5 0 10 30,000 S.090
1-1 760,024
' "EASBKO ninbo limited
OOUSBNfl, flOOTT DIBSLBB 0 CM 01-34-1*97 0 5,000 e.ooo
=> f a, aoo
< V TBCK CORPORATIOH TAVLOfl, iTOHtf 0 CB 01-03-1997 6,000 0 1 7 . 11 0 5,000
0 C fl 0 1 - 0 3 - 1 9 9 7 0 7* 6,000 30.900 0
0 OP 01-03-1997 0 7 5,000 n .ntyn ia rin
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 "Davtfl Baincs, 12:15 PM 3/24/98, No Subject

Return-path: <dbaines@pacpress.southam.ca>
Envelope-to: richmond@direct.ca
Delivery-date: Tue, 24 Mar 1998 12:14:20 -0800
X-Sender: dbaines@pop.pacpress.southam.ca
Date:Tue, 24 Mar 1998 12:15:12 -0800
To: richmond@direct.ca
From: dbaines@pacpress.southam.ca (David Baines)
X-UIDL: 709924B0810d3a754203a218e 15c8ba

PDATE Saturday, October 25, 1997

EDITION Final
SECTION Business
PA G E E 4
LENGTH 367 words
STOTYPE Business
LKW BROKERS; STOCKS; THOMAS TAYLOR; FINES; SUNGOLD GAMING INC.
HEADLINE Vancouver broker, firm fined $25,000: Thomas Taylor was found
to have accepted manipulative trade orders from a representative of
Sungold Gaming.
BYLINE David Baines, Sun Business Reporter
SOURCE Vancouver Sun

A Vancouver stockbroker and his firm have been fined $25,000

for accepting manipulative trade orders from the head of investor

relations for Vancouver Stock Exchange-listed Sungold Gaming Inc.

Thomas Taylor was fined $15,000 and his firm, McDermid St.
Lawrence, $10,000 for accepting orders from Sungold vice-president
* Kim Hart which had the effect of "'unduly disturbing the normal
position of the market."

VSE director of communications Jayne Sutherland said Hart's conduct

has been referred to the British Columbia Securities Commission for
further review.

The misconduct occurred from February to March 1995, when Sungold's

share price rose from $1.89 to $4.20.

At the time, Sungold was promoting a proposed casino project on the

St. Regis Mohawk reservation in New York state at the Quebec border.

The VSE said that, during this period, Hart acquired through Taylor
372,050 shares, or 18.7 per cent of the total volume traded.

Of those purchases, about 56 per cent were executed as jitney

trades, which means the trades were routed through other brokerage

firms so public investors would not know the trades originated from
one source.

The VSE also said Taylor accepted buy orders from Hart that
resulted in 230 upticks, representing nearly half the total
increases in market price during the relevant period.

Those upticks established 25 new stock price highs, nearly half the
new highs established during the relevant period.

They also caused the stock to close on a high note during 18

Printed for richmond@direct.ca (Richmond News)

 '"DavKl Baines, 12:15 PM 3/24/98, No Subject
trading sessions, representing two-thirds of the high closes that
occurred during the relevant period.

"The client upticks and client high close trades unduly influenced
the trading activity by creating an artificial price for the shares
of Sungold," the VSE said.

Sungold is currendy promoting two proposed mega-casino projects in

South Korea and a $l60-million racetrack and gaming facility in
Richmond.

Sungold's stock soared to $17.50 by February this year when VSE

officials halted trading on grounds the company "appears to be
insufficiendy capitalized" to execute its business plan, and
current management "lacks direct industry experience and does not
have a record of success with public companies."

Sungold's president is Hans Banziger and its vice-president is

Henry Schwang.

Hart, who still serves as head of investor relations, declined

comment Friday.
DOB 971026
UPDATE 971026
*** END OF DOCUMENT ***

David Baines
Business reporter/columnist
Vancouver Sun
tel: 604-732-2114
fax: 604-732-2320

Printed for richmond@direct.ca (Richmond News)

r-old

> not

Kin fire
shod on
ul farm i
.in csli- |
damage.
oiidcd 10
. farm.
.. 8 Rd..
stover a
npletcly

i he shed.
Id man Cooling off ... Taylor Scott, 3 1/2,'splashes in the fountain at Richmond Cultural Centre Saturday afternoon while mom Laurie looks on.
x next to
kened to
>pping of RACETRACK PROPOSAL
lond fire
dctte.
to cxtin-
miebody
orgct it,"

;is really
he build-
Backer authors support letters
und."
cr, co-op
By Bob Mackin
News Reporter
At least four signatories say Ken Hart wrote ed by the signers.
When told that the four
rrigation
1 lost in A member of the group
the letters they signed people the News contacted
did not collaborate with
insured. hoping to build a "world Hart, Banziger said: "I'm
;, one of class" horse racing track in to have bought the.land and employer's stamp on a letter Downs would benefit the not going to comment on
:d, were east Richmond is using wants to finance construc written by Hart. economy. that, that's not my under
small town tactics to pro tion of the racing facility. "He wrote the letter, not Hart claimed there is standing."
ic build- mote his cause. Both Harts arc substantial me," Montcsna said. nothing wrong with his tac Coun. Bill McNulty said
t nine by The News received seven shareholders in the company. An employee of Dorion tic since those who signed the letter-writing fiasco is
insured different letters hyping the The News contacted four Greek Tavcrna in Richmond the letters agreed with what just another example of the
about a l l e g e d b e n e fi t s t o of the alleged letter writers, said he signed one of Hart's he wrote. He admitted none unorthodox methods
i.OOO in Richmond of Richmond all of whom said they did not letter as a favor to the man he of the people who signed the Sungold and its proponents
Downs, a proposed 1 1/4 create the notes. They said described as a regular cus letters told him what to write arc employing.
lie said, mile racing facility. All of Hart asked them to sign let tomer, but was unaware that in the specific letter they "I think this is the wrong
i't been the letters appeared to be ters he had written. None of his name could be printed in signed. way to go about it," McNulty
how the from the same typewriter, the letters identifies Hart as the newspaper. "We wrote down a variety said. "They're not off to a
w years but were signed by different author. "1 don't want my name in of thoughts based on what good start.
ni lost a people. "A friend of mine (Ken the paper," the man said. we heard people say and "Some of the things,
e than 50 It turns out the author was Hart) asked me if I would Jimmy Gian, proprietor gave it to them to choose accusations they're making,
cause of Ken Hart. endorse his application for of Lung Kcc Seafood which letter they felt most arc suspect. It's the wrong
0 never Hart is the real estate the track," said' William Restaurant, also said he appropriately reflected their way to go about making a
agent who brokered the sale Beck of Burnaby. "He typed signed his name to a letter thoughts," Hart said. proposal."
over the of 92 hectares of farmland (the letter) himself. I didn't written by Hart. Sungold president Hans Sungold is expected to
as set on on No. 8 Road, south of tell him (what to write), he None of the four people Banziger said the elder Hart make a presentation to city
;ccnt and Westminster Highway. His just wrote it." the News spoke to were was acting on his own voli council in September. The
1 to burn son, Kim Hart, is vice-presi Ada Montcsna, sales and enthusiastic racing fans or tion, not on behalf of the company says it's commis
ible at dent of Sungold Gaming, the event coordinator at Fantasy bettors. They all said they company. He said he was sioning Vancouver market
xondary Vancouver Stock Exchange- Garden World, signed her signed the letters because under the impression that he research firm MarkTrend to
listed company which claims name and placed her they believe Richmond typed letters that were creat conduct an opinion poll.

K 1 * .
 X

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Editor

Richmond needs more respect, more recognition."

We do have the Airport, but travellors don't know

i t ' s i n R i c h m o n d , o n l y t h a t i t ' s t h e Va n c o u v e r I n t e r n a t i o n a l A i r p o r t .

Richmond Downs Racetrack, as proposed, would bring

international recognition to Richmond and, thanks to this world
c l a s s f a c i l i t y, i n s t a n t l y t r a n s f o r m t h e c i t y i n t o a 5 - s t a r
tourist destination!

The tourist dollars, multi jobs and tax revenues

t h a t R i c h m o n d D o w n s w i l l b r i n g , a s a m u c h - n e e d e d s i d e b e n e fi t ,
will be welcomed by all Richmondites.

Let's get behind Richmond Downs and put Richmond

on the international tourist map. It's our turn!

') / d j ' l i u l J J - J r i ? ? & < / ' . S T ^ o $ e x # A * d , ? . . f / d M u L y J t o t f s f f 7

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July 23, 1997

Editor

Bring on your tourist dollars.

Generate thousands of jobs.
Boost Richmond's tax revenues.

Yes, bring on Richmond Downs Racetrack and

show the world what a world class facility Richmond has
to offer international travellors.

Owners of top thoroughbred horses, who remember

the famous Brighouse and Lansdowne tracks here, can't wait
to return here where their horses can enjoy running safely
on Lulu Island's soft and giving soil.

Let's put Richmond Downs on the fast track!

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60

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lave arrived featuring: raincoats and casual jacket,

IN MICRO FIBRE NOW 1/2 PRICE
SUITS FROM $399
BLAZERS from tioB
r M i ^
Kim Hart, pres/ceo, Sungold Gaming International
5/20
We only received two business days notice, Fri. afternoon.
We just received the letter May 6. We weren't expecting to
deal with it right away, so consequently our experts that
needed to be able to talk to their issues, the big dyke
proposal, the issues like the traffic studies, we want to
make certain that the issues are addressed adequately and
thoughtfully so we can give the planning committee something
thorough to deal with, not just a rush presentation. We have
people from all over North America that deal with this.
Donald R. Harris will be present? "maybe"
The main change is we withdrew all slot machines. Everything
is horse related, no slot machines because of the
contentiousness of the slot machine issue in Richmond. We
just felt council had spoken frequently on it, so we didn't
want to weigh into a contentious issue that obviously is not
big with council.
There are 10s of thousands of tourists involved, 2,000 jobs
at stake, millions of dollars of taxation at stake, so it's
a big issue.

April 2001 target date for opening

I can assure you from the feedback we've got from the
significant local residents in the area where the race track
is proposed, this is something that enjoys considerable
local support and will be very helpful to the farmers as
well. It will not only bring new interested parties who want
to own property in that area because it will be the finest
race track in North America, it'll give farmers the
opportunity to get involved in providing nursery products.
W o n d e r f u l d i v e r s i fi c a t i o n s o f t h e i r c u r r e n t i n c o m e . I t ' l l
ensure vibrant agriculture in Richmond for many years to
come.
--haven't talked to Mayfair Lakes yet
of people at track will be from outside Richmond
TAC International Holdings BCSC investigation
That's not his company.
Richmond mayor Greg Halsey-Brandt
I'm probably as surprised as you, I guess.
We had a flurry of these when they talked about moving
Hastings Park out of the PNE. I thought at that time they
were either going to Colony Farms in Coquitlam or go to
Delta at Burns Bog, but I guess those didn't work.
This is not the same, this is a brand new one. I don't know
if there would be room for two. A number of them looked at
Richmond at the time and none of them proceeded. Presumably
the land wasn't right or the market wasn't right. I'm a
little surprised that this one is taking a run at Richmond.
First of all a race track is not permitted in any of our
zones, so we'd have to look at it from a rezoning point of
view, and it sounds like they want to go into the ALR
somewhere out in east Richmond, which I'm sure the city
wouldn't be in favor of and neither would the agricultural
land commission, because no matter how they dress it up,
grazing horses and stuff, I wouldn't perceive it as
agricultural use at any rate, it's very much a commercial
use, certainly the one in Hastings Park is that way. With
that activity, if it does have slot machines, with that
amount of activity I don't think it would be compatible with
agriculture. I don't know exactly where it is, but most of
east Richmond is blueberries, or cranberries or
strawberries, there's few cows. It would have to replace one
of those activities. I don't think I would be supporting it
and I kind of doubt whether council would, though I haven't
talked to them.
Often I find it depends on how much you offer a person for
the property. If somebody's growing blueberries and you
offer three times the value of the land for a race track,
it's amazing how people can come out and support something.
All I know is what I read in the morning papers. It sounds
like from that they've been involved in a number of marginal
projects over the past number of years that have been up and
down in terms of their value. I guess I'll have to wait and
see if they get serious on this one.
ALR process
They have to apply for rezoning here first of all to the
city and we make a decision whether or not we will forward
that to the agricultural land commission, which is the
provincial agency out in Burnaby. We would have to make the
first decision, it depends on whether we think it warrants
enough interest to at least send it on to them for comment.
But it has to get through the city first.
It looks like a real longshot to me, but from some of the
other projects this group has been involved in, I think
that's what their specialty is, longshots.

Coun. Bill McNulty

"Personally I don't see the need for one. We've got one
that's I assume surviving, I don't know how well it's
surviving, Hastings Park. It's a whole new ball game. Mind
you it's interesting someone should want it because we did
have race tracks at one time. Brighouse and Lansdowne, both
of which were extremely successful in their days. But it's a
different community now. I'd like to see what their
proposing.
I h a v e a l i t t l e d i f fi c u l t y w i t h t h o s e t h i n g s , e v e r y o n e ' s
looking to find an establishment in a community. It's
interesting the way society is going now. Society is not
looking to what people might have thought of as traditional
recreation, like race tracks. I think society is changing,
one of the reasons its changing is the demographics of
Richmond are different from what people think it is. 50% of
the population is almost over the age of 50, that brings for
l e i s u r e a l o t d i ff e r e n t t h i n g , n o t p l a y i n g fi e l d s f o r t h e
longball, but the slow pitch where the bases are 60 ft.
apart.
A race track begs a real big question, it's gambling in a
different form. We don't want any more casinos in Richmond.
My question would be do we want a race track and all that
comes with it. Do we have the land? I'm looking at the
overall picture of Richmond. Are they going in the ALR? I
don't think there's any land west of six road. I don't think
there's a large plot of land available.
I don't think horse racing and race tracks and gambling are
part of what is allowed in the ALR. I suggest they do their
homework before putting out news releases, unless they have
and I was just talking to Geo. Duncan this afternoon. He
didn't mention any big projects coming up.

John Woods, editor, Stockwatch

"Banziger has a pattern of promoting stocks to very high

prices in relation to their underlying value. In other words
it's commonly called over-promoting. At the same time he
develops, somehow, a very, very loyal following among
shareholders.
"A man from Calgary who is one of the biggest fans of the
company, Ted Carter, of the famous Carter newsletter that
was very keen on Bre-X. He is one of the chief boosters of
Sungold. I believe that his boosterism would be based on the
enormous non-existent Korean casinos. Now whether Carter is
actually keen on the company now for its horse racing
potential or casino potential, I really don't know.
Ted Carter had column touting stocks in the Calgary
Herald? (check)
That's the sort of promotional help and until recently David
Valpy seem to round up from time to time. The likelihood of
this Korean casino ever being built as it's been described
is quite small.
All the horse droppings would be good for the agricultural
land, wouldn't they?
These folks are very good salesmen. If they're as good at
selling to city councillors as they are selling to
investors, they may at least get into the next stage of
promotion.
I can't keep track of all the casinos. There have been so
many casino proposals here there and everywhere. It's
difficult to keep on top. I thought that all other casino
proposals besides these Korean ones were on the back burner.
The problem with a story like this is it's so close to home.
It's people like you, it's so easy to check, to simply call
up to city council and say what are the chances of this
going ahead. Their response is something like I don't know
what the hell you're talking about to very poor. The closer
a promotion like this is to home, often the less useful it
is for the stock. Those promotions that are furthest away,
Korea or a jungle in Borneo are the best ones.

KH We don't feel it's obtrusive. The race track will be on

this side. It won't be annoying to the temple. We plan to
build a massive berm.

parking on east side, with potential for future parking of

horse barns. No cars in barn area.
which side of road.
HB Don't be too explicit on that one. The architects have
their own ideas.
93 acres on east side, remainder on the west

--why Rmd?
hb "My eye caught Mr. Hart's eye, he is the expert in this
field. I defer to him when it comes to knowledge in this
field. It makes sense to me. It's right now in the
agricultural land freeze, but the use wouldn't be much
different from agricultural, horses belong to the farm area
and I think the horse track is not going to be offensive in
this environment.
tourism could be the mitigating factor to change council's
mind, because council is opposed to new farm land and
gambling.
"It could be..
kh industry employs 3,000 at HP, "in effect we're moving
something from an area that does not want to have racing and
a fair to an area that's compatible. That area would then be
reclaimed and become HP. That's what the community wants and
the people and the MLA want, they want that area to be a
park, they want salmon spawning there. The highest and best
use for this area would be a race track with horse barns.
It's the Kentucky of the lower mainland.
Horse racing has a gaming element, but everyone knows horses
are the stars.
would create 7,000 jobs, many for people who wouldn't work
elsewhere
"Richmond is in desperate need of a world class tourism
attraction. Richmond is a city looking for a heart, a
destination to be drawn to it. That's what we can provide to
it.
Horse racing in HK is so successful that all the wagering
that is done in Atlantic City and Las Vegas does not exceed
the wagering done by the race tracks in HK.
There's an argument to be made and we intend to make it that
there's no need to take this land out of the land freeze. We
intend to use this for agricultural purpose, the care,
maintenance and racing of horses. There's no reason it has
to leave the ALR, we don't want to stir the pot that much.
owns Goldrush Dynasty, Parbuster, Sungold Express, "I
enjoy the business, I enjoy the people and the people in the
industry. If you talk to the horsemen you will find they
have been desperately crying out for help, the industry
right now, without a facility like this cannot survive. With
a facility like this it can thrive.

Auburn, Wash., Dallas-Ft. Worth, etc.

kh I'm personally a horse owner, some of my best friends
have serious investments, I'm a member of the HBPA and this
is something that will either be done first class or not
They're a long ways away from even coming and talking to us,
if they want to talk to us conceptually, I don't have a lot
of time for that, there's a lot of people out there with
different concepts, but if they do get through the few
hurdles they need to get through, certainly they should come
and talk to the PRA board.
The logic behind the location makes sense, certainly there's
a huge Chinese population there that they could tap into,
quite frankly we're trying to figure out ways to tap into
it. We will entertain them if they come to us with a
proposal somewhere down the road as various groups have, but
until they get that far I don't think it's worthwhile to
talk to them.

Kim Hart, vp corporate affairs, Sungold Gaming International

There's a lot of people who are prominent horsemen involved
with horse ownership and horse racing in Hong Kong that live
in Richmond, also some of the people that are involved in
horse racing here in North America, both here in Vancouver
and also in Calif., Ky., Chicago have been for some time
looking to Richmond, not particularly Richmond per se, but
have been looking to Vancouver for a potential site for a
track that could precipitate racing for Hong Kong and Calif.
THere's a need for a world class track to race some of these
horses that are racing in So. Cal. and HK, HK has a gap
between the middle of June and Sept. when it's too hot to
race horses in HK, it would be perfect for Vancouver's mild
climate. In particular in Richmond there's a particularly
large number of people who are horsemen that are also
horsemen in HK that have high quality horses that they can't
race here in Vancouver because they don't have a proper
w o r l d c l a s s r a c e h o r s e f a c i l i t y.
In order to bring those horses over, the track has to be
built to very strict specifications and have the same kind
of guidelines you have at Sha Tin or Happy Valley, but we
have some of the bigger people in horse racing in North
America putting together a thoroughbred airline that will
fly back and forth between HK and Vcr and Ky. and Calif, so
horses can be moved economically and rapidly with a
veterinarian on board, that makes it relevant to have a race
track.
We also have assurances from the gov't that they're willing
to have slot machines to be at the race track. They want the
race track, the one that's in existence right now, to have
it anyhow.
The horsemen find that it's so hard on the horses and
they're unable to bring in the good horses and the HP
community area are dead opposed to the PNE and the race
track and they want it out of there. They want to have a big
park instead, there's just too many people living in the
v i c i n i t y, I g u e s s .
who in gov't has said racetrack wants to move to be away
from area residents?
"The MLA in the area, it's common knowledge, they've been
wanting to move the race track for a while.
Joy McPhail?
I don't want to be quoted, I don't want gov't discussions in
the newspaper. I'm just telling you there is a strong desire
to move the race track. And also the horsemen themselves,
the facility that we're proposing would be a facility that
would bring tourism to Rmd. and B.C., tourism in Richmond's
case that Richmond has not experienced before. It would be a
real magnet for tourists, simply because world class horses
would be able to race on this track and it would be a
novelty to see them.
turf and dirt tracks, family area, "it would be a facility
that would rank up there with some of the top facilities
around. The property is a beautiful venue.

panoramic views, "hardly any neighboring populace to be

disturbed, it's very discreet. It's not a problem with apt.
bldgs, and big subdivisions.
not like Burns Bog, which was ecologically sensitive.
"It's close to the airport in Richmond and the arteries
coming from 91, Surrey, Delta, Bby-NW and the Knight St.
Bridge and 99 from the states. It's a nice central location.
I'm not sure if you've been out that way lately, but when
you drive east on Westminster Hwy and start heading out to
the farmlands it gets very quiet. It's only four miles from
3 and West'.

location?
It's near No. 7 Rd., 7, 8 Rd., in that area. South of the
connector, but further east (of Mayfair Lakes, etc.).
Recently they've had golf courses put in there which
obviously is not agricultural use, this is a proposal which
will probably end up being non-agricultural use description,
actually it's kind a borderline. Horse racing is by its
n a t u r e a n a g r i c u l t u r a l a c t i v i t y, i n B . C . t h e r e ' s 5 0 , 0 0 0
acres being utilized for horses racing at the race track.
Most of the land would be tied up with the maintenance and
care of horses, so it's actually an agricultural function
that would be taking place there.
We're working with all the levels of gov't, that's one thing
we don't want to tell any level of gov't what to do. We just
give them the proposal and ask them what we can do to make
it work.

We just got the land the other day. We're a public co., we
have to put a news release out the moment we secure the
land. We only did that just on Monday. Now we're on a
position where our architects are going to be making a
proposal. We've been told by various levels of gov't there
is a strong desire for a first class race track and the
gov't has indicated they are willing to have slot machines
at the race track. We want to build a facility that will be
economically solid and yet unobtrusive to the community, we
don't want to have a facility that will run in the community
and not create sparks, we want to have a big burm, big hedge
that will cut down the noise.
The site is also situated on ground that can only be
d e s c r i b e d a s fi r s t c l a s s f o r r a c i n g , i t w i l l b e t o p s o i l t h a t
Richmond is known for. There was a track called Brighouse
Park that was historically one of the greatest tracks
around, that was shut down years ago, when it was moved to
Exhibition Park. This has got the same type of soil
conditions.
ALR; gambling and council?
I can understand where they're coming from, because it's the
thin edge of the wedge.
There certainly wouldn't be any tables. We certainly know
one thing, we know that the public of Richmond are very much
in favor of anything in this area particularly a race track,
we've done a survey and we've found the public is
overwhelmingly in favor of a race track. We did them
i n t e r n a l l y.
can I see results of survey?
You'll have to do your own survey. We have done surveys. We
have no desire to get into a public argument over whether or
not this is viable. We'll make a full presentation and let
everyone decide. We don't want to go ahead unless the
public's in favor of it.
This is a project that will ultimately be Richmond's prime
tourist attraction. Richmond is a city without a prime
tourist attraction. This is something that will be for HK
people the number one race track outside of HK, that they
would want to patronize.

Quite frankly, it will probably remain within the ALR and be

operating only as a race track. We don't intend to build
anything else, shopping malls or 'four stars' (hotels?), and
there really is no other way to build a race track, you
don't have any other choice. The best land is farmland.
Bear in mind the horse track in Vancouver makes possible
50,000 acres of land throughout the province that is used to
support the racing industry to make that race track work.
cost of development?
We know what the cost is but that is something we're going
to release in a full presentation, because we don't want to
release things in piecemeal until we're ready. You have to
appreciate, though it may frustrate you as a newspaperman,
we as a public co. have to put out a news release whether we
want to or not, when we enter a transaction like this.
You're going to have to wait probably two or three weeks
more before we give you all the details of the project.

bought land from?

It's one entity, but at this time we don't want to have them
be inundated by people phoning and bothering them.
VSE publicity, possible shady dealings?
The person who wrote that article is known for his scathing
commentaries and seething negativity, he has little or no
credibility with the community. Anyone that I know doesn't
read his columns with any kind of seriousness. He's
basically a soap box type of writer, writing stories of
sensationalism. We're running a business and we don't have
time for that.
what was inaccurate about Baines' story in Wed. Sun?
The whole slant, the whole thing. For example, he talks
about management. He doesn't mention the fact our board of
directors includes a man who for five years was a director
of the largest casino company in the United States, Dr.
Willy Harrington. He doesn't mention the fact our co. has
successfully secured a site in Michigan which was just the
other day approved as the only site between Detroit and the
Ohio border for a casino. That's a big coup for a Vancouver
co., that's going to be a very large casino.
Our co. is a real estate development co., we were only set
up a few years ago for the express purpose of developing
land.
Those two products (Voice Cap System, Rabbit Ovulation
Monitor) were only when the co. was taking over an existing
co. The Vancouver Exchange advised the co. to buy any sort
of small business, any sort of invention they could use to
effect the reverse takeover of the other co. because the
exchange rules require that you have some sort of business
venture when you takeover a co., so the co. purchased those
products and sold them immediately thereafter and then began
the process of starting to finance development of casino
properties. That's something that would be on the advice of
the exchange, that's something that the co. wanted to do,
you have to do whenever you do a reverse takeover of a co.
Gun Lake Indian Band in between Detroit and Toledo, Ohio
casino.
"You're going to hear a news announcement soon about a major
casino operator managing that property for us. We're a real
estate development co., we don't manage these properties.

thoroughbred airline to start up in a year or so, before

track is built. "The people that are behind it are some of
the most prominent horsemen in North America.
head office? "I'm not sure, either L.A. or Ky., but it's
going to be structured so it can move horses from the top
four or five locations on a regular basis.
who are major investors and advisers?
"I'm not at liberty to discuss any names just yet, but you
will get more information about that when we start talking
about the investors and we start talking about the financing
of the project, then we'll start releasing this information.

We're hoping for spring 95 and that all depends on how fast
we can get gov't approvals. I know the horsemen are very
anxious to get it done, the sooner the better. Horsemen in
general, and you can talk to the pres. of the Horsemen's
Ass'n, I'm sure you'll find that he also, I've talked to
him, and he's very much in favor of getting a first class
track, he'd like to have it done as soon as possible. Pretty
much across the board, the horsemen are behind it.
Officially we haven't gone to anybody yet with the proposal
yet, we just bought the land. You're jumping the gun a bit
here. The first step is to get the land, now we're going to
put a proposal together for both the gov't agencies and the
horsemen's ass'n, and we'll be making official proposals
probably sometime within the next three or four weeks.
status of stock?
The stock, because of the major changes that are taking
place, the company is going through a change of business
filing and Merit Investments out of Toronto is the sponsor,
it's going to make the filing in a couple of weeks and the
stock should be trading before the end of the month of July.
THe co. is growing, as you can see, quite rapidly. It was
originally a co. assembling properties for potential
development, now these properties are not just potential
developments, the properties are about to be developed. That
will be in place approx. by the middle of the month.

exchange will do due diligence in the next week or so

stock just finished splitting 3 to 1.
company name change recently.
done at all. We won't put our name on something that isn't
done right.
As far as the stock market is concerned, it's an opportunity
for B.C. citizens and B.C. pension funds to invest in a B.C.
product that will create jobs for B.C. citizens. I can't see
why anybody would be against something that's going to
create opportunity for Vancouver and B.C. investors and the
Vancouver Stock Exchange. It's a classic example of
something that's better done publicly through equity than
privately through individuals' money. We have investors who
are interested because they see this as being an opportunity
for profit through the stock market through time.
hb The deal has been closed. We have taken out an option and
it's registered and it's all put to bed.

price?
We'd rather not to say at this stage.

previous owner?
kh "the Gilmore Family, Don Gilmore.
kh The gov't has final say, we'll be working with them. We
just happen to think their best choice is they have to do
something.
...and to the horsemen, the breeders, the public at large
and the city of Richmond. There's a lot at stake here, a lot
of jobs, taxes, probably the biggest tax producing industry
Richmond would have outside the airport.
hs we spent a lot of time with it, but then that's the way
it is in business, you see an opportunity, but sometimes
things don't work out the way you want to of course you make
a step back. But that's been taken into consideration from
our point of view.

S. Korea/Gun Lake
hb We've set up a co. over there, we have Korean partners
that own the land and we'll joint venture with us to develop
it. The first step is to get the necessary licenses, and
there have to be a number of changes made by the govt before
those licenses can be issued.
It's an excellent oppportunity. Sungold will take on
partners, we're not big enough ourselves to do that. But
we've got our foot in the door, we've got a deal.

gov. struck task force to speed up project.

*kh: My family's lived in Richmond 40 years and we have a

certain reputation to uphold. We're not going to be involved
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John Woods, editor, Stockwatch

"Banziger has a pattern of promoting stocks to very high

prices in relation to their underlying value. In other words
it's commonly called over-promo t ing. At the same time he
develops, somehow, a very, very loyal following among
shareholders.
"A man from Calgary who is one of the biggest fans of the
company, Ted Carter, of the famous Carter newsletter that
was very keen on Bre-X. He is one of the chief boosters of
Sungold. I believe that his boosterism would be based on the
enormous non-existent Korean casinos. Now whether Carter is
actually keen on the company now for its horse racing
potential or casino potential, I really don't know.
Ted Carter had column touting stocks in the Calgary
Herald? (check)
That's the sort of promotional help and until recently David
Valpy seem to round up from time to time. The likelihood of
this Korean casino ever being built as it's been described
is quite small.
All the horse droppings would be good for the agricultural
land, wouldn't they?
These folks are very good salesmen. If they're as good at
selling to city councillors as they are selling to
investors, they may at least get into the next stage of
promotion.
I can't keep track of all the casinos. There have been so
many casino proposals here there and everywhere. It's
difficult to keep on top. I thought that all other casino
proposals besides these Korean ones were on the back burner.
The problem with a story like this is it's so close to home.
It's people like you, it's so easy to check, to simply call
up to city council and say what are the chances of this
going ahead. Their response is something like I don't know
what the hell you're talking about to very poor. The closer
a promotion like this is to home, often the less useful it
is for the stock. Those promotions that are furthest away,
Korea or a jungle in Borneo are the best ones.
They've got a mile race track at Portland Meadows and they
don't bring in any world class horses. A mile track itself
is not going to attract horses. You put up the money and
they will come. You need a safe surface. A mile race track
i s i d e a l t o t h e i n d u s t r y.

Lorna Romilly, chair of B.C. Racing Commission (regulatory

body), also on Lotteries' Advisory Cmte. board.
In order for them to operate a race track they would need a
licence from the BCRC. Before we issue licenses we do an
investigation of the company, the individuals and their
financing and then they would also need race dates, which we
approve, but as long as there' s a thoroughbred track
operating in the Lower Mainland, like HP, we wouldn't
approve race dates at any other track. Vancouver can't
sustain two major race tracks, we just don't have the
horses.

They would have to talk to the PRA about that. Nobody's come
to us with any proposal of any kind.
If they wanted to move and operate another track, yeah,
they'd have to redo the licence. If Sungold wants to operate
a track and PRA becomes part of Sungold,it isn't automatic
that they would get the licence. It would depend on what the
investigation of their financing and ability to run a track,
what happened in that investigation would determine whether
or not they're suitable to run a track and have the funding
that could do that.
A new track is not part of that (LAC), not at this point
anyway.
The province has offered slot machines to all tracks, 300
slot machines in an equivalent rate as they have to the
charity casinos. Depending on how often they run.
due to municipality bylaws.
Race tracks and casinos, a number of race tracks in the
States have gone into the casino business and the casino
detracts from the people who play the horses if they're in
the same location.
You still want people there to play the horses and watch the
races.
there was another proposal for land eyed by PNE on NW/Coq.
border
Bob Stirskey, chmn of board Pacific Racing
Association/interim GM at Hastings Park Racecourse (7/2)
We've been there in the late 80s, out of all those proposals
the gov't did create the PRA which operates Hastings Pk.,
along with operating HP the PRA has the authority to control
thoroughbred racing in the province, they need to talk to
us. The first I heard of it was when I read it in the paper
this morning.
The one big stumbling block for all the other proposals in
the late 80s was that the gov't needed some level of comfort
that whatever financing was involved was appropriate and
sufficient. Nobody could really provide those kind of
guarantees to the gov't at that time. Out of that evolved
the PRA, the PRA hasn't talked to these people yet.

Right now we have the potential for 21 1/2 years remaining

in our lease with the city of Vancouver and it is our
intention to stay here unless something better comes along.
This may or may not be the better. We've seen a lot of these
types of proposals for racetracks, it seems to be a romantic
thing in the eye of many.
To m a k e i t w o r k t o d a y i t ' s a d i f fi c u l t t h i n g . I f i t ' s a
standalone it's very difficult, racetracks, the newer ones
that are successful seem to be tied to hotels and theme
parks and need to have the ability to have other forms of
gaming.
The 300 slotmachines the provincial gov't has recently said
that race tracks could have to offset other forms of gaming,
the city of Vancouver isn't going to allow HP to have those.
We're going to be at a definite disadvantage when competing
with other casinos. Those are all significant hurdles that
need to be overcome.
if all came together, incl. gov't approval, would you
move.
That would be an industry decision, quite frankly. They
would have to have everything right for us to consider it
and they'd have to get it built and be able to prove they
can at least for the short haul finance it and manage it
properly without offloading the expenses on the industry and
end up in Seattle where they have a nice plant, but the
purses are very much lower than ours.
($2,500 purse down there would be $5,500 up here)
industry has had to pay for Emerald Downs
The whole industry would love a brand new facility, no
getting around it. The industry would certainly look at any
proposal, but myself, I have a fairly jaundiced eye about
all these.
s V
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Sungold Gaming International wants to build a horse racing stadium in east Richmond. But the
company's president acted more like a baseball pitcher, hurling a last-minute series of curve balls at
city council Monday.
Seven of the nine "umpires" (a.k.a. council members) branded Kim Hart's offerings a strike out when
they voted to deny Sungold leave to apply to the Agricultural Land Commission to build a $160-million
on 92-hectares of farmland.
Kim Hart told council Sungold had changed its proposal since last Tuesday's planning committee
meeting. The proposed stadium and parking facilities have been moved from the Gilmore farm
property to land owned by the Fraser River Harbor Commission.
Sungold has an option to purchase the 92-hectare Gilmore berry, potato and forage farm that expires
Jan. 15,1999. Hart only met with the Fraser River Harbor Commission's Tom Corsie and Interport
Development's Colin Stewart Thursday in desperation.
The actual track and barn facilities, Hart said, would remain on the Gilmore property. But if Sungold
could purchase or lease up to 54 acres of Fraser Port's land, the grandstand and parking lot could go
there.
"I would like to respectfully request from council, due to the shortness of time we've had, is that this be
deferred so we can reconfigure the proposal and bring it back to planning committee."
Only Coun. Kiichi Kumagai and Ken Johnston voted against the denial, which was recommended
unanimously by the five-member planning committee on June 16. They felt the willingness of Fraser Port
and its developer partner Interport Development to listen to Hart should be enough for council to accept
Hart's request.
Hart already asked for one deferral. That was May 20 when planning committee originally planned to
consider the proposal. Hart said he wasn't ready to make his presentation.
When Richmond Downs was announced last June, Hart said he hoped to make a presentation to city
council's committee of the whole in September.

Coun. Corisande Percival-Smith, planning committee's chair, said Sungold's 11th hour changes
indicate it hadn't done its homework.

CPS
Interesting that his brother really didn't do his homework. That's what the problem is, there is a lot
of homework that hasn't been done.

council initially read about proposal in local newspapers long before application made

What we've had is a game, things about stocks and shares and VSE and Nasdaq. Finally we got an
application to the city for a race track.

The baseline of this whole issue is some way of bringing in another form of gaming.
It's all to do with gambling and not much else.

-through OCP talks

People wanted to have agricultural land reserve left as is. My gut feeling, and I've been in politics for
20 years, people are getting tired of all the development and infrastructure inRichmond and they wanto
keep certain areas for agriculture.

If it had been really and truly thought out about the agricultural land.
I'm sure if they'd really and truly looked into it in a decent manner they would've found there's a
whole lot of problems inthis presentation. It looks good, it looks glamorous and it looks as if some
thought had been put into it. But when you look down deeper, you realize an awful lot is just surface.
Gleaming glitter, but not very much from the point of view of true infrastructure.
-council has turned down applications for funeral homes, memorial gardens and school expansion on
much smaller parcels of agricultural land than Richmond Downs.

LG
-no second page to letter from Fraser Port
"I don't even know who wrote this to you, although it is on Fraserport heading. For all I know they
could've changed their mind on the second page."
-Hart Capt. Tom Corsi

Hart's original applied to the city for permission to ask the Agricultural Land Commission to allow
Richmond Downs as a non-farm use on property in the Agricultural Land Commission.
He did not reapply .He simply changed his presentation Monday.
Only Coun. Kiichi Kumagai and Coun. Ken Johnston sided with Hart.

There was an eclectic group of people in the public gallery for the Sungold presentation. Bill Jones and
Art Cowie, whose proposal for a memorial garden on the Jones Nursey property was turned down last
year, sat in the front row. Behind them were Ken and Mariene Hart, Kim Hart's parents. The elder
Harts were behind a failed letter-writing campaign to the News last summer. Ken Hart authored
letters supporting Richmond Downs. He coerced various friends and local small businesspeople into
signing their names to the letters. Beside them was Don Gilmore, whose property Sungold wants to
purchase.
Kim Hart's brother Kelly spoke in favor of the project, even though he said he doesn't see eye-to-eye
with his sibling on political issues.
A woman told council that she'd rather see 24,000 horses in Richmond than 10 more driving school cars
on the roads.

DD:
Usually when it's a passionate application, you usually hear from the public and you have groups
phoning you, I haven't had any of that.
KK
This is wishful thinking, your off ramp connected from Nelson Road. Have you done a study on how you
can do that. Interchanges of this nature take up some of that blueberry and cranberry farms over there.
Have you talked with MoTH.

-Hart said will talk to them and do studies if council gets approval.

KH We heard you loud and clear when you had your RFPs for destination casinos. Slot machines are
common everywhere, they're like slot machines.

A world class race track like this is only once in 100 years. This will be one of the top four or five in
North America. A genuine attraction.

Kelly Hart
I can vouch for Kim's work ethic and his morals. Me and Kim have always been very polarized in our
political views. I'm an artist, struggling financially, and Kim is quite successful. But it's amazing I can
see eye to eye with him on this.

Sungold's traffic study includes a crude proposal to build an off-ramp from Highway 91 to deliver
traffic along Nelson Road to Richmond Downs.
Coun. Kiichi Kumagai said it's "wishful thinking", especially since the area is rich in cranberry and
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File:

June 19.1998

Mr. Kim Noble Hart

President & CEO
Sungold Gaining International Ltd.
1300 Park Place
666 Burrard Street
Vancouver, B.C. V6C 3 J8

Dear Mr. Hart:

Re: Richmond Dovffa Racetrack Proposal

Further to our meeting of June 18.1998, please accept Us letter as confirmation of the status of
yourinquiry to the Fraser River Harbour Commission. The concept of establishing an
ZSto. horse racing and entertainment faciliry on Agricultural ^ *^.*W
adiacent to the north boundary of the Commission's Fraser Richmond site was discussed With the
ctnrnfs ioSs Their miti7reaction to the concept was favourable based on ^ *-dg
it would not impact on the Fraser Richmond site and may m feci bring enhancements to
infrastructure including better highway access to the immediate area.

You have further requested consideration be given to locating the parking lots required for the
S ontoUnd controlled by the Commission. It is our understanding the City-of Richmond
nas specifically requested you contact us and discuss a possible occupancy of our lands. The
total land mass required from us would be about S4 acres.

Commission staff are interested in exploring your development ^ ^^J ^

on the Fraser Richmond site with you. Any discussion of the proposal however will have to
Solve our developer partners, Interport Development Inc. As well we have commissioned an
eSoronentel stud? for the site and we do not expect results from that unt.l leter the year.

White this mav have the potential to evolve into a lease opportunity on our property for the
Si^-JEl H* lots to the proposed entertainment complex we wil hav^oawa*
the outcome of the environmental study and the views of Interport prior to dwaiumg this
further.

PoriM/admn/letter.Ut

frff/cSlZX^StoSrfe/,to* mm W-W mm^im

 wui..iii bbblMvu ui wiiinui.v outfcjoOlOO i' jjt i . ut/u<t juU'uu

lNTERPOHt DEVELOrMENT INCICANADA)

June 22,1998,

Mr. Kim Noble Hart

President and CEO
Sungold Gaming International Ltd.
1300 Park Place
666 Burrafd
Vancouver B.C.

Dear Mr. Hart:

It was a pleasure to meet you last Friday. We were pleased to learn of your proposal to build the
Richmond Downs Racetrack on land adjacent to the federal Fraser Richmond site. Interport will
be developing this site in partnership with the Fraser River Harbour Commission.

We heard with interest your idea to build a grandstand facility and parking lot on our site, with
the remainder of your complex on the private agricultural land tmmed,ately to the Northu While
there are a number of issues to be discus^d, we look forward to exploring this concept with you
further.

Colin Stewart
Executive Assistant
to the Chairman

June }tl-lnii-rp
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 FffcUy. August 14. IMS F C U R M C C P n O P O S A L S R N E W G A U K 3 FA a n K S a E r O C V 8 * * e < TA P P n a VA L - F r i O t y A u g u s t 1 4 1 M 8
i+prnople (tfRMOPlE

(250)952-0607
News Release For more information on the Ministry of Employment and Investment, visit our Internet home page at: http://www.ci.gov.hc.ca
For Immediate Release
Backgrounder
Ministry of Employment and Investment
064
August 14.1998 Approval-in-Principle For
Four More Gaming Proposals
FOUR MORE PROPOSALS FOR NEW GAMING FACILITIES
GET GOVERNMENT APPROVAL-IN-PRINCIPLE Campbell River Casino
Campbell River
VICTORIAThe provincial government has approved in principle four destination casinos, one each for Campbell River and New
Westminster and two for the Penticton area. Employment and Investment Minister Mike Famworth said today. Proposed by the Campbell River Indian Band (544507 BC Ltd.) in conjunction with Trillium Gaming Inc.
All four proposals have host local government support as required under the request for proposals process. This proposal will create up to 400 permanent jobs plus another estimated
255 person-years of employment during construction.
"The proposed casinos mean training opportunities and more than 1,410 new, full-time jobs and 684 person-years of construction
employment for the people of Campbell River, New Westminster and the Penticton area," Famworth said. The facility will be on municipal land in Campbell River.

"They also mean a new revenue sourceone-sixth of the net gaming income from the facilityfor the host local government," said This $7.7-miIlion destination casino, with 30 gambling tables and 300 slot machines, will be part of a $28.9-million complex that
Famworth. includes, a 130-room hotel, health club, a 300-seat restaurant and lounge with entertainment amenities, a convention centre and
banquet facilities.
The specific project details for the four proposals include:
Contact:
Campbell River Casino proposed by the Campbell River Indian band in conjunction with Trillium Gaming Inc.; the project
on municipal land in Campbell River, is to be completed in phases and includes the casino, a 130-room hotel, health club, a Robert Duncan, Business Manager
300-seat restaurant and lounge with entertainment amenities, and a convention centre/banquet facility; Campbell River Indian Band
Arrowleaf Resort and Casino on the Penticton First Nations Reserve, proposed by the Penticton Indian band in conjunction 1400 Weiwaikum Road
with Sodak Gaming Inc.; the project, to be developed in three phases, includes, in addition to the casino, a 144-room hotel, Campbell River, BC V9W 5W8
golf course, 240-seat meeting/banquet rooms, pool and spa facilities, and a ISO-seat restaurant for Penticton;
Lake City Casino at the existing Penticton Lakeside Resort and Convention Centre, proposed by Lake City Casinos Ltd.; this Phone:(250)287-8631
project has a casino, with 20 gaming tables and 200 slot machines, as well as a ballroom, meeting rooms, show lounge and Fax:(250)287-8838
health spa in a project that includes a 55-room hotel expansion and a roof-top restaurant and lounge; and,
Star of Fortune Riverboat Casino that will cruise the Fraser River and dock at Westminster Quay, proposed by the Star of Arrowleaf Resort and Casino
Fortune Management Corporation; (he project, which will provide a tourist attraction for New Westminster, will include a Penticton First Nations Reserve
casino, restaurant, lounge and entertainment facilities on the riverboat. and shore-based facilities including a restaurant and
lounge. Proposed by the Penticton Indian Band in conjunction with Sodak Gaming Inc.
"The proponents for the destination casinos must now successfully conclude negotiations with the B.C. Lottery Corporation and meet This proposal will create up to 400 permanent jobs plus another 285 person-years of employment during construction.
commitments to the ancillary development components of their proposals," Famworth said.
This project involves a $10.2-million destination casino, with 26 gambling tables and
"They will also not receive final approval until I am fully satisfied they have met all applicable government, regulatory and 300 slot machines, in a $27-milIion project that includes a 144-room hotel, golf course, 240-seat meeting/banquet rooms, pool and
environmental requirements." spa facilities, and a 150-seat restaurant.
These four proposals bring the total of new destination casinos approved-in-principle to seven. In mid-May, the provincial Contact:
government approved in principle proposals for three destination casinos, one each in the Kootenays, Cariboo and North Coast.
Jim Breindel
Ten proposals for seven additional gaming facilitiesthree in Bumaby, and one each Osoyoos, Sea Island, Tsawwassen and Director of Operations & Marketing
Merrittrequire further analysis. The remaining 20 proposals were not successful. Sodak Gaming Inc.
5301 South Highway 16
Famworth said a major consideration in the approval process is the impact of the proposals on existing charitable facilities. The Rapid City, SD 57701
proponents' business plan, including infrastructure needs, were also evaluated in terms of viability and an economic development
component was necessary. Phone:(605)341-5400
Fax:(605)341-1443
"In total, seven destination casinos of the 37 proposals reviewed have now reached the approval-in-principle stage after the rigorous
evaluation and due diligence process. The 10 proposals for the seven facilities are being analysed further and the rest did not score Lake City Casinos Limited
sufficiently high to move forward," Famworth said. City of Penticton
-30 Proposed by Lake City Casinos Ltd.

(Backgrounder) This proposal will create up to 400 permanent jobs plus another 144 person-years of employment during construction.
Contact: This project involves a $5.6-miilion casino, with 20 gaming tables and 200 slot machines, as well as a ballroom, meeting rooms,
show lounge and health spa in a $12-million project that includes a 55-room hotel expansion, as well as a roof-top restaurant and
DonZadravec lounge.
Executive Director
Communications Contact:
 Frtflsy. August 14. IMS

Steve Kumpf
Manager, Finance/Administration
Lake City Casinos Ltd.
108-565 Bernard Avenue
Kelowna.BC VIY8R2

Phone: (250) 861-5457

Fax: (250) 860-4407

Star of Fortune Riverboat Casino

The riverboat casino will cruise the Fraser River and dock at
Westminster Quay in New Westminster

Proposed by the Star of Fortune Management Corporation.

This proposal will create 210 permanent jobs.

This S5-million riverboat, 218 feet in length, will be a significant new tourist attraction in the lower mainland. It will have 30 gaming
tables and 300 slots. In addition to the casino, the riverboat will feature a restaurant, lounge and entertainment facilities. On-shore
facilities will include a reception area and a restaurant/lounge.

Contact:

Douglas M. Holtby, Chair

Star of Fortune Management Corporation
6955 Isleview Road
West Vancouver, BC V7W 2L1

Phone:(604)921-9277
Fax:(604)921-2282

The government received 49 proposalssome of them included a casino and a bingo hall in one facility, but they each were treated as
separate proposals for evaluation purposes.

Twelve proposals were eliminated at the start because they did not receive host local government support

Thirty-seven proposals proceeded to the next stage. In mid-May, three destination casinos, one each in the Kootenays, the Cariboo
and the North Coast, received approval-in-principle. Now four more destination casinos, two in the Okanagan and one each on
Vancouver Island and the Lower Mainland, have received
approval-in-principle, bringing the total of new destination casinos
approved-in-principle to seven.

Ten proposals for seven facilities require further analysis. The remaining 20 were not successful.

The seven facilities requiring further analysis are:

Musqueam 4444 Slahal Entertainments Inc. at Musqueam First Nations Reserve on Sea Island (destination bingo and casino)
427967 B.C. LtdJCadith Entertainment Ltd. at Burnaby (charity bingo hall)
LLDC Inc/Lady Luck Gaming Corp. at Tsawwassen First Nations Reserve (destination bingo and casino)
455738 B.C. Ltd. at Burnaby (charity casino)
Trillium Gaming Inc/Navegante Group Operations Inc. at Merrill First Nations Reserve (destination casino)
471438 B.C. Ltd. at Burnaby (charity casino)
Desert Flower Resort Casino CorpVEML Casino Management Corp. at Osoyoos First Nations Reserve (destination bingo
and casino)
 Provincial Agricultural ORES Land Commission

Preserving Our Foodlands

COMMONLY ASKED QUESTIONS ABOUT THE ALR

Is my property in the ALR?

In order to determine whether or not your property is in the Agricultural Land Reserve (ALR), you will
need to know the legal description of your property. The description can be found on the Certificate of Title
or your tax or assessment notice. Give this information to your local government office and they will
determine whether or not your property is in the ALR. If there is any doubt as to the ALR status or if you
are going to be making financial or investment decisions and require confirmation of the ALR status or the
exact location of the ALR boundary, you should contact the Agricultural Land Commission office.

Where can I get a copy of an ALR map?

Your local government office may have copies of ALR maps for their area and may be able to provide you
with a copy. The Commission does not have facilities to produce copies of ALR maps but it has a
distributor from which ALR maps can be purchased. It is helpful to know the regional district and the
mapsheet number when you place an order. Current cost is approximately $4.00 per mapsheet.

Contact: Norman Wade Company Ltd. Phone: 736-6323

1603 W 3rd Ave Fax: 736-3823
Vancouver, BC
V6J 1K1

My property is in the ALR. What does this mean?

If your property is in the ALR, it means that it is subject to the Agricultural Land Commission Act which
was established to preserve agricultural land for present and future generations and to encourage the
establishment and maintenance of farms as a secure source of food.

The ALR can be thought of as a provincial land use zone in which agriculture is recognized as the priority
use. Farming is encouraged and non-agricultural uses are regulated. If you wish to subdivide or use your
land for non-farm purposes or exclude your land from the ALR, you must submit an application to the
Commission and obtain its approval.

Should you wish to make an application, contact your local government office (i.e. the municipality,
regional district or Islands Trust office in which your property is located). Information may also be
obtained from the Agricultural Land Commission office.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033
3PALRQ&A - 1 (Nov 1995)
 P r o v i n c i a l A g r i c u l t u r a l g fi g p f r L a n d C o m m i s s i o n

Preserving Our Foodlands

How do I make an application?

Contact your local government office and ask for the Applicant's Information Package. Follow the steps
outlined. You may also contact the Agricultural Land Commission office for information.

Where do I get an application form?

Application forms are available from your local government office or the Agricultural Land Commission
office. Also ask for the, Applicant's Information Package which contains useful information for
preparing your application.

How much does an application cost? Will I get a refund if my application is refused?

Application fees vary depending on the type of application you are making. Ask your local government
office for a copy ofthe Applicant's Information Package which contains information on fees and types
of applications.

The fees represent a portion of the costs involved in processing your application. A portion of the
application fee is retained by the local government and the balance of the fee is submitted to the
Agricultural Land Commission office.

Application fees are non refundable. However, in instances where the local government does not
authorize your application to proceed to the Commission, the portion of the fee normally submitted to the
Commission is returned to you.

In cases of hardship, there are provisions to waive the application fees. Ask for information on the
Commission's policy on Waiving of Fees to determine if you qualify.

How long does an application take?

The Commission strives to process your application within 90 days of receipt. However, the length of
time to process your application depends on the type of application and its complexity. Delays can occur
if your application is incomplete or does not have the necessary documents or fee enclosed. Delays can
also occur if the Commission feels it requires additional information such as an on-site inspection of
your property by its farm advisors, staff agrologist, or members of the Commission.

Additional information may also be required from the local government or other government agencies.

Most types of applications are submitted directly to the local government office, which, in turn, forwards
your application to the Commission.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033
3PALRQ&A -2 (Nov. 1995)
 Provincial Agricultural TO^fe Land Commission

Preserving Our Foodlands

How will I find out the Commission fs decision? Can you tell me the decision over the phone?

You will be notified of the Commission's decision on your application by letter. The Commission has a
policy of not relaying its decisions over the phone in order to avoid any misinterpretation or
misunderstanding as in many instances, decisions are complex and contain extensive rationale and
stipulations.

Telephone calls to staff asking for this information only adds to delays as the time spent advising you
that the information cannot be given over the phone and the reasons for this take away from the time
staff can spend on processing your application.

What information does the Commission consider? What are my chances for success?

The information the Commission considers is noted in the Applicant's Information Package which can
be obtained from your local government office. The chances of success of your application depend
entirely on the specific circumstances involved. The more information you supply, the better the
Commission can understand your request. How does your proposal benefit agriculture? Does your
proposal impact negatively on the potential for farming in your area? How does your proposal relate to
the responsibility of the Commission to preserve agricultural lands? These issues are paramount to the
Commission's decision.

If my application is refused, can the decision be appealed or reconsidered?

If your application is refused, it will not be reconsidered by the Commission unless there is new evidence
that was not available at the time of its original decision, or if the decision was based on evidence that
was in error or false.

There is no avenue for appeal except on a question of law or excess of jurisdiction by way of stated case
to the Supreme Court. The remedies of the Judicial Review Procedures Act also apply.

What is the Commission? Who are the Commissioners? Wftere are they from? Do they work
full-time? How often does the Commission meet?

The Commission consists of five or more members appointed by the Lieutenant Governor in Council
upon the recommendation of the Minister of Agriculture, Fisheries & Food. The Commission has the
responsibility for administering the Agricultural Land Commission Act. The Commissioners reflect a
wide range of agricultural and land use experience and come from a variety of regions within the
province. The Commissioners do not work full time for the Agricultural Land Commission. They meet
approximately five days every month during which time they decide on applications amongst many other
duties. Meetings take place at the Commission office in Burnaby as well as in local government offices
throughout the province.

133-4940 Canada Way, Burnaby, B.C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033
3PALRQ&A -3 (Nov. 1995)
 fe

P r o v i n c i a l A g r i c u l t u r a l ( fl j j p f e L a n d C o m m i s s i o n

Preserving Our Foodlands

Can I develop my property as allowed by local zoning?

Not unless the proposed use or subdivision is one that is allowed by the Agricultural Land Commission
Act or Regulations or has been specifically approved by the Commission by way of an application.

Does the Commission's decision overrule local government?

Local government bylaws and the Agricultural Land Commission Act regulate the use of ALR lands. If
an approval is granted by the Commission, you must still comply with the local government regulations
as well as any other legislation that may apply to your proposal.

Will the Commission allow my proposal if local government supports my proposal?

Not necessarily. The Commission values the opinion of local governments but it may disagree.

What is the minimum lot size allowed in the ALR?

There is no minimum parcel size established by the Commission for lands within the ALR. While local
government subdivision and zoning bylaws may establish minimum parcel sizes, this does not
necessarily mean that the Commission will approve an application to subdivide to the parcel size
permitted by local zoning.

How many dwellings are permitted per parcel?

One single family dwelling per land registry parcel is permitted within the ALR. Additional permanent
dwellings may be permitted if they are required for full time, legitimate, bone fide farm operations.

A single-wide mobile home may also be permitted on a temporary basis for a relative or farm help
subject to certain conditions. Ask for information on the Commission's General Order on Temporary
Mobile Homes.

Any other dwellings must be approved by the Commission based on an application.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033
3PALRQ&A -4 (Nov. 1995)
 Provincial Agricultural SHfe Land Commission

Preserving Our Foodlands

Is there a time limit on an approval? Can the approval be transferred to a subsequent property
owner?

There is no time limit on an approval of the Commission unless specifically noted as a condition of
approval. The approval runs with the land and therefore is transferable to subsequent owners of the land
unless stipulated otherwise as a condition of the approval.

What is the soil classification or agriculture capability rating of my property?

The Commission uses the Land Capability Classification System for Agriculture in British Columbia and
where this mapping is not available, the Canada Land Inventory mapping, to determine the agricultural
capability of land. Both systems identify land according to its potential and limitations for agriculture
using a rating system of Class 1 to 7. Information on the agriculture capability classification of your
property can be obtained from the Geographic Information Department of the Commission. Staff will
need to know the legal description of your property in order to provide this information.

Your local government office may also have this information.

For further information on the agriculture capability rating system, ask for a copy of the Commission's
pamphlet "What is Agricultural Land? "

Copies of agriculture capability maps may be obtained from:

MAPS-BC
Survey & Resource Mapping Branch
Ministry of Environment, Lands & Parks
1802 Douglas Street
Victoria, BC V8V 1X4

Phone: 387-1441 Fax: 387-3022

It is helpful to know the Regional District and the mapsheet number when you place an order.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033
3PALRQ&A - 5 (Nov. 1995)
 Provincial Agricultural Land Commission
JUT

Preserving Our Foodlands

WHAT IS AGRICULTURAL LAND?

Less than 5% of our province is suitable for farming.

Some of the best agricultural lands are in narrow valley
bottoms, where they must compete with other uses,
Land area of B.C. (100%) such as housing, industry, transportation, recreation,
and wildlife habitat. Agricultural Land Reserves
Agricultural Land
Reserve (ALR) (5.0%) preserve BC's limited amount of farmland to insure that
Land in ALR suitable for
we can meet our present and future food needs.
arangeofcrops (2.7%)

Prime agricultural One measure of agricultural potential is the Land

land in ALR (1.1%)
Capability Classification System for Agriculture in
British Columbia. Where this mapping is not available,
the Commission will use the Canada Land Inventory
(CLI) mapping. Both systems identify land according to
its potential and limitations for agriculture using a
rating system of Class 1 to 7.

The classification systems are based on climate and soil characteristics as well as on consideration of
topography, drainage, and other landscape characteristics but are not based on the current use of the land.

The best agricultural lands are rated Class 1 because they have the ideal climate and soil to allow a
farmer to grow the widest range of crops. Class 7 is considered non-arable, with no potential for soil
bound agriculture. As the class numbers increase from Class 1 to Class 7, the range of crops decreases.
Associated with each class is a subclass that describes limitations such as topography, stoniness, soil
moisture deficiency, low fertility, etc.

However, the ratings give no indication of the yield of individual crops. For example, for a particular
crop, some Class 4 lands may produce higher yields than Class 3 or 2 but the range of crops for Class 4 is
narrower than for Class 3 or 2. Similarly, a higher-numbered class does not necessarily mean lower
quality agricultural land. Some of these lands are highly suitable for specialty crops. For instance, some
lands in Richmond are rated Class 5 but represent unique soils that are highly suited for blueberries and
cranberries. The forage lands in west-central BC, which are an integral part of beef farming in that area,
are Class 5. In the southern interior, the natural grasslands, unique in North America, are rated as Class
6, but are important to the ranching industry.

Thus, the Commission looks not only at the agriculture capability ratings but also may take into account
productivity, yield, suitability, and other factors.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033

3PAgLand - 1 (Nov. 1995)

 Provincial Agricultural tffljpfe Land Commission

Preserving Our Foodlands

The land capability classification for agriculture has two main components; the capability class and the
capability subclass. The class identifies potential for agriculture. The subclass identifies limitations or
special management practices needed to improve the soil.

AGRICULTURE CAPABILITY CLASSES

Class 1 land is capable of producing the very widest range of crops. Soil and climate conditions are optimum,
resulting in easy management.

Class 2 land is capable of producing a wide range of crops. Minor restrictions of soil or climate may reduce
capability but pose no major difficulties in management.

Class 3 land is capable of producing a fairly wide range of crops under good management practices. Soil and/or
climate limitations are somewhat restrictive.

Class 4 land is capable of a restricted range of crops. Soil and climate conditions require special management
considerations.

Class 5 land is capable of production of cultivated perennial forage crops and specially adapted crops. Soil and/or
climate conditions severely limit capability.

Class 6 land is important in its natural state as grazing land. These lands cannot be cultivated due to soil and/or
climate limitations.

Class 7 land has no capability for soil bound agriculture.

AGRICULTURE CAPABILITY SUBCLASSES

' i i
A&.M^soU'm<3istoedelBciency,,: \ !' ; , N-v^^'-saliir11- ,!i''
C . s, \,[ adyerVclimate (excliaduigiprecipitatiott)',; ,P J'^rfeitomnessl L
^cipitetiott)yrsP;r^;!5||
D ..undesirable soil structure : , , ..R', %,* shaliow^ilc
Ibw^cfil over bedrock &/or bedrock outcroppings
E e r b ] s j c r ; . - * - , ! p : ? $ u % c ^ p J S Y. ; ; H
F J Q W i f e r f t l i t y - . , , . % ' ' > ' e x c e s s ^ a t e r. ( g r p u n d w a t e r )
I rotmttattan(fl6oding by streams, eta) S&X cummau^fiandmmor'adverse characteristics

The land capability classification usually gives land two ratings: unimproved and improved. Unimproved
ratings describe the land in its native condition without any improvements to the soil. Improved ratings
indicate the land's potential once the appropriate management practice identified by the subclass, such as
irrigation, stone removal or drainage, has been implemented.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033

3PAgLand -2 (Nov. 1995)

 Provincial Agricultural Land Commission
JUT

Preserving Our Foodlands

Photo Courtesy of Dr. Leigh Moyles. Agriculture Canada Research Station, Summerland

Copies of Agriculture Capability Maps are available

from:

MAPSBC
Map & Air Photo Sales Unit
Survey & Resource Mapping Branch
Ministry of Environment, Lands & Parks
3rd Floor, 1802 Douglas St.
Victoria, B. C. V8V 1X4

Tel. 387-1441 Fax 387-3022

Agriculture Capability Map
A detailed manual explaining agriculture capability map
symbols, titled Land Capability Classification for
Agriculture in British Columbia is also available from the above address.

133- 4940 Canada Way, Burnaby, B. C. V5G 4K6 Telephone (604) 660-7000 Fax (604) 660-7033

3PAgLand -3 (Nov. 1995)

B4/22/97 14:45:2Z 6B4-952-4B49-> BB3131: Richmond Neu Page BB1

CoSTmBIA NEWS RELEASE

Ministry of Small Business,
To u r i s m and Culture APril 221997

PROVINCE TABLES WIN/WIN FOR PNE & HASTINGS PARK

VICTORIA - A provincial proposal presented to Vancouver City Council today
ensures the Hastings Park restoration will begin on schedule and preserve the PNE,
said Small Business, Tourism and Culture Minister Jan Pullinger.

"We are presenting a very creative solution that will reduce maintenance costs for the ^
city and provide a contribution to park development, totalling approximately $3 million,"
Pullinger said. "As well, this package will safeguard the PNE's 4,000 current jobs, and
pave the way to the new leisure entertainment centre that will generate over $390
million in economic activity, 3,000 construction jobs over two years, and an additional
3,000 full time direct and indirect operating jobs."

Pullinger said the Province has developed a transition plan that will assist the city in
beginning the Hastings Park restoration on schedule. "We are going to operate the
PNE on a much smaller -- in fact an ever-shrinking -* footprint this year and next.
Our plan will ensure the restoration work will begin on October 1, 1997, and proceed
on schedule over the next two years. Demolition of PNE buildings and park
development work can start right on time."

The province has issued an RFP to seek private sector partners to operate a leisure
entertainment centre in the Greater Vancouver area that would house the PNE.
"Our most recent research shows that the Pacific North West is one of the last
untapped markets in North America for a LEC of this type," Pullinger. noted. "This is a
golden opportunity for British Columbia to develop a major new attraction that will
create jobs and keep the economic benefits on this side of the border,

"The residents of Vancouver East would be big winners with this proposal," said
Pullinger. "There will be no delay in their park development. We are offering a
financial contribution for the restoration project, at a time when the city - like all
governments - is facing budget challenges. Also, community programming for the
local residents, like the community ice at the Agridome, will continue till 1999.

"At the same time, we can offer the best possible solution for all British Columbians,
by protecting and creating jobs, by investing in a new economic generator for Greater
Vancouver, and by protecting the historic agricultural tradition of the Pacific National
Exhibition.

nWe are going to City Council this afternoon with a win/win solution, I hope they have
the vision to accept this offer and work with us," said Pullinger.

Contact:
Rick Stevens
(250) 356-6305
B4/22/97 14145:47 6B4-952-4B49-> BB3131: Richnond Neu Page BB2

PROVINCIAL PROPOSAL FOR THE PNE

The provincial government and the PNE have been working over the last two years to establish a new
home for the PNE. Studies conclude that the only viable option would be a public/private partnership to
establish a leisure entertainment centre (LEC). The LEC would include a family entertainment theme
park, an outdoor concert facility, and a new home for the PNE. The province hopes to conclude
negotiations with a private sector partner by the fall of 1997, with the LEC operational by the year
2000. During this time it is critical to keep the PNE operating, and the province has proposed a
transition plan for the PNE for the next two years.

Objectives:
V Job Protection

The PNE provides part-rime employment to 1.608 people, and employs 150 people full-time. It gives
youth the number one seasonal employment opportunity in the province - 2,600 youths employed per
year. The total employed rises to 4,000 positions directly when seasonal jobs created by Playland and the
17-day Fair are added in. The transition proposal, to ensure the continued operation of the PNE during
1998 and 1999, protects much-needed jobs.

V Restoration of Hastings Park

The provincial government is committed to the restoration of Hastings Park. A transition agreement
would ensure the park restoration process begins October 1,1997. and would outline a clear process for
the orderly phasing out of the PNE.

V Preserving a Legacy

The PNE is celebrating its 90th year. Decades of top-quality entertainment and cultural events for British
Columbians and visitors from around the worid has resulted in the PNE now attracting one million people
per year. The legacy of this proud agricultural heritage must be continued.

Proposal details:
V The PNE would be completely off-site by December 31,1999. Park restoration would begin as scheduled
on October 1,1997 with building demolition proceeding as planned.
V The plan offers the city a net savings of $2 million in maintenance contributions and a $ I million
contribution to park restorations.
V The PNE would continue to provide community programming at Hastings Park, including providing
community ice in the Agridome.
V The provincial government would fund a project management group to oversee the orderly withdrawal of
the PNE from its present site, ensuring that the needs of both the city and the province are met.
V The provincial government is seeking a private sector partner to establish a leisure entertainment centre in
the Greater Vancouver area by the year 2000. The provincial government issued a RFP in April 1997,
which closes on June 4, 1997.
84/22/97 14:46:IB 6B4-952-4B49-> BB3131: Richmond Heu Page BB3

BACKGROUNDER
^British Pacific National Exhibition
Columbia

A proud history, a world-wide attraction

V The PNE is celebrating its 90th year. It was founded in 1907 and the first fair was held in the
summer of 1910.

S Attracting about one million people per year, the PNE is a premier entertainment and cultural
event for British Columbians and visitors from around the world.

Generating jobs, benefiting British Columbians

S The PNE employs 150 people full-time and 1,608 people part-time. The total rises to 4,000
positions directly and 5,000 more indirectly (concessionaires and exhibitors.) when seasonal jobs
created by Play land and the 17-day Fair are added in.

It continues to be the number one seasonal employer of youth in the province - 2,600 youths per
year.
S The PNE, a Crown Corporation, now generates an estimated S150 million in economic benefits
yearly, almost all of which stays in the province.

Looking to the future

S The PNE's current site lease with the city of Vancouver expires on September 30, 1997.

The B.C. government has proposed a two-year transition period allowing the PNE to stay at its
present site while negotiations are under way to create a Leisure Entertainment Centre at a new
site. In the future, the PNE would take place at the new site.

The provincial government's proposal would keep the Hastings Park Restoration project on
schedule, and contribute an additional $3 million towards the project.

April 1B97
Ministry of Small Business. Tourism and Culture
84/22/97 14:46:26 6B4-952-4B49-> 803131: Richmond Neu Page BB4

BACKGROUNDER
^British Leisure Entertainment Centre
Columbia

Partners
S The provincial government is seeking private sector partners to design, build, finance and operate a
Leisure
' new Entertainment
home, would haveCentre (LEC)
a family by the year
entertainment 2000.park
theme Theand
site,an
in addition to beingfacility.
outdoor concert the PNE's

Positive Response
S Developers, theme park operators and private and public land owners are responding positively to
government's Request for Proposal (RFP), which was issued in April 1997 and closes on June 4,
1997.

Job Generation
V Construction of the LEC will generate an estimated $390 million of economic activity in the
province, and provide about 3,000 mil-time jobs* This will result in $103 million in wages and
salaries.

Seasonal and full-time employment through the LEC is expected to equal about 3,000 full-time
jobs directly and indirectly. This will generate an estimated $49.5 million of wages and salaries.

Economic Activity
S During its first year of operation, the LEC will generate an estimated $135 million of economic
activity in the province.

April 1997
Mlntovy of Small Business. Tourism an* Cuftura
E16
109 years of racing and still going strong
first Thoroughbred race staged
In Vancouver
Historians was heldthat
have recorded In 1889
the
and was held down the middle of what
was to become one of the city's main
streets Howe Street.
A horse called Mayflower won the fea
tured race, the Vancouver City Stakes,
and won first place money of $250. It was
the first, and last, time that Howe Street
was used as a race track.
Saner heads prevailed and shortly there
after the 13.C. Jockey Club moved its oper
ations to Hastings East where workmen
had carved out of a forest a track where
the presenl day I hustings Park Racecourse
still stands today, some 108 years later.
Known originally as East Park, and then
I lastings Driving Park, the oval was 19
feci higher al one end than the other. The
original infield was a collection of charred
slumps and the barn area had one small
stable the size of a two-car garage.
And so thoroughbred racing was born
in Vancouver.
And although there would be two other
major tracks built nearby Richmond's
Minoru I'ark in 1909 and Lansdowne Park
in 1924 - only Hastings Park Racecourse
remains, where racing in the Lower Main
land has been conducted since 1961 when
the "new" B.C. Jockey Club was formed.
it came about through necessity.
Racing in the Vancouver area was expe
riencing difficult times during the late
lJ50's as betting was on the decline at
both Exhibition Park (nee Hastings Park),
operated by the Ascot Jockey Club and
the Jack Diamond family, and Lansdowne,
operated by B.C. Turf Ltd.. and the William
Randall family.
The two companies did the natural
thing, they Joined forces.
When the 19G1 season opened all rac
ing had been moved to Exhibition Park
on the grounds of the Pacific National
Exhibition, under the banner of a new
company, the B.C. Jockey Club.
Diamond and Randall became co-pres
idents of the new organization.
Under their leadership, a new grand
stand was built during the winter of 1964-
65 and the racing strip was revamped.
A further addition to the grandstand was
undertaken in 1976.
The Province
Lights were installed for the 1968 sea
son.
William Randall was born Into racing.
Jack Diamond was introduced to it.
William Randall Is the son of I he late
Sam W. Randall, who has become known
affectionately as the "Father" of Thor
oughbred racing in British Columbia.
For 35 years he was the principal pro
moter and operator of thoroughbred rac
ing in B.C.. having become the opera
tor of Hastings Park (before il became
Exhibition Park).
In 1924 hebuill Lansdowne Park and
for Iwo decades operated the former Wil
low Park track in Victoria.
His contributions to the racing game
are numerous, including Installing the
first photo finish camera and helping
in the construction of the first closed in
electric starting gate in 1939.
When illness forced Sam Randall to
retire in 1955. his son William was
passed I lie torch and succeeded his
father as president of the Ascot Jockey
Club.
Sam Randall passed away in 1961 at
the age of 80 but his memory remains
through the annual running of the S.W.
Randall Plate at Hastings Park.
never seen a thoroughbred race
Diamond,until he
a Polish
was taken
immigrant,
to Lansdowne
had
one day by a friend.
II was the beginning of a beautiful
friendship.
Diamond Immediately fell in love with
the sport, became an owner/breeder and
subsequently was so effective negotiating
for his fellow horsemen with Lansdowne
management in the *40s he was Invited
to sit al the management table as direc
tor.
Owner of the now defunct Pacific Meat
Company at the lime, Diamond look con
trol of the faltering one-mile Lansdowne
Hack in 1947 and ran il until his amal
gamation with Randall In 1960.
Such was Diamond*s contributions to
the sport that he has been elected to both
the Canadian and B.C. Racing Halls of
Fame, named Man of the Year in Cana
dian racing 1976). and selected as a recip
ient of (he Order of Canada.
SPECIAL AUVEHIISING FEATURE
Hastings Park honours Diamond eveiy
year by naming it's top two-year-old colts
and geldings race the Jack Diamond
Futurity, and the fillies slakes race after
his late wife. Sadie.
Things began to Tall apart for the B.C.
Jockey Club at the start of the 1990s
and in order to preserve the industry,
then Provincial government Attorney-
General, Colin Gableman, Introduced a
new Horse Racing Act in 1993.
And the Pacific Racing Association
was born.
The PRA is a non-profit society, over
seen by a seven member board, named
by both the racing industry and gov-
cnmient.Tlie current chairman Is Don
Wlnton.
Prior lo the PRA's first racing season
in 1994. (he association committed S3
million to renovating the the former
existing grandstand and race Hack.
They also returned the track lo it's for
mer name. Hastings Park.
The racing surface was reworked from
the base up, resulting in a safer race track
for both horse and rider and the grand
stand was renovated and decorated.
Future developments for the racetrack
include incorporation Into the Hastings
Park greenspace plan as well as contin
uing improvements to the physical plant,
racetrack and stable area.
As Hastings Park Racecourse settles
into It's second century, one can look back
on a multitude of historic stories.
One of them is Jack Short.
Short called the races on the public-
address systems at Lansdowne and Hast
ings Park for longer than anyone In North
America.
From his start In 1934 until he retired
following the 1976 season. Short was the
Voice of the Races for 43 years.
He missed only one day. the day his
wife. Zccla passed away.
By his own estimate. Short called
around 50,000 races during his career,
and one must remember the racing sea
sons in those days were far shorter than
they are today.
Another story is jockey Johnny Long
den.
Longden. a member of the Canadian
Thursday, March 26,1998
and U.S. Racing Halls of Fame, focused
the eyes of the entire racing world on Hast
ings Park in August of 1965.
The diminutive (4T1"), then 58-ycar-
old rider was on the verge of becoming .die
first jockey in North America lo win 6,000
life-time winners. I le chose Hastings Park
lo accomplish the feat because "I got start
ed at Hastings Park (1928) and 1 thought
it would be nice to try for die record there."
It took him a week to do it. and in the
sixth race on Monday. August 16. 1965.
Longden brought home a horse called
Prince Scorpion for the historic victory.
Longdcn's final race and final win. bis
6.032nd. also had a Vancouver connec
tion.
In March. 1966. in the San Juan CapiS-
trano slakes race at Santa Anita, Long
den piloted a B.C.-bred named George
Royal to a nose victory over a horse sim
ply called Plaque. Il was George Royal's
second straight victory in (he San Juan
Capistrano. To this day. Santa Anita still
advertises the second victory as the urcal-
est stakes finish in (he track's history.
it also earmarked George Royal as the
greatest B.C.-bred horse of all time, who
in addition lo those two Santa Anita vic
tories also twice won the Canadian Cham
pionship at Woodbine race track and still
holds the North american record for stakes
victories in a season nine, al Hast
ings Parkin 1964.
For this amazing feat. George Royal
became the first B.C.-bred named Cana
dian Horse of the Year. Only one other
B.C.-bred horse has been so honoured.
Travelling Victor in 1983.
A modern-day Longden Is jockey Chris
Loseth. An eight time winner of the lead
ing Jockey title at Hastings Park. Loseth
became only the fourth Canadian-born
rider to win 3.000 lifetime races when
In the firsl race on July 6. 1996, he
brought Megeka Sauce home a winner by
three lengths.
Loseth had earlier become the first
Canadian rider to win a Sovereign Award
as the nation's top Apprentice rider (1976)
and Outstanding rider (1984).; Loseth still
rides at Hastings Park today'and is the
track's all-time stakes winning jockey with
162 victories.
Key horse racing contacts:
Lorna Romilly, chair, B.C. Racing Commission
tel: 980-2157
(BCRC is the provincial regulatory body of horse racing;
Romilly's husband is the judge who is a major investor in
Great Canadian Gaming Co., a public company taking over
Great Canadian Casinos. Lorna Romilly is an NDP patronage
appointee who quit Peter Clark's Lotteries Advisory
Committee when news of her husband's stock deal came out.)
Dave Milburn, prez., Horseman's Benevolent and Protective
Ass'n of B.C.
526-1805 (xt. 340)
(the organization that represents horse owners, breeders,
trainers; the HBPA's new board of directors includes Kim
Hart, v-p of Sungold Gaming, the Richmond Downs proponents.
Milburn's a lawyer, sometimes hard to get hold of, but he
does return calls).
Bob Stirskey, prez., Pacific Racing Ass'n/G.M. Hastings Park
254-1631
(PRA manages Hastings Park and holds the licence for horse
racing in Vancouver. Hastings Park is a substandard track,
losing tons of money and it's no secret people in the
industry want a facility similar to Emerald Downs near
Seattle.
Stirskey and many others may be very guarded in what they
say, but deep down they want a new track, whether it's in
Coquitlam or Richmond.)
for info on Newman's VSE ties, call John Woods, publisher of
Stockwatch, 687-1500
Mike Famworth 8/5 at Interport newser on gambling

casino decision?

In the near future, that's on the RFP casino proposals. I expect within the next few
weeks to be able to make some more announcements.

--1st or 2nd week of September slot machine prohibition appeal (in Surrey and Van.)

decision will come before then?

I would think so, yes.

Not necessarily, the two proposals are in isolation from each other in that the
Musqueam proposal is made on the basis the Great Canadian Casino is already up
and running, their proposal is being considered in the same vein as with every
other proposal that's under the RFP process. This is a large area with huge market
potential, each proposal will be evaluated on its merits and set of crieria and the
decision will be made on that basis.

The largest size a destination casino can be is 300 slot machines and about 30 tables,
which is a similar size to a charity casino, and there is over 100,000 people in
Richmond alone, and also right next to 500,000 people in Vancouver, so if you
approved one or both, I don't think that would have adverse impact. The Great
Canadian Casino has not indicated to us any opposition to other casinos in the
Richmond area.

Sungold
Let me put it this way, that's a decision that in large measure is up to the city of
Richmond, in fact I have met with Sungold and I have made it clear to them that
they need to get the support of the city of Richmond, because the land use is the city
of Richmond's decision on whether or not they want a race track and whether they
want it in this particular location and the traffic patterns that would have to be
addressed. Because clearly what Sungold is talking about is a major development.
That's a key hurdle that has to be overcome. Until that happens, any decisions by the
province would be moot at this point.

Any expression of interest or vote by the city of Richmond council, if they were in
favor of this proposal, would certainly merit my giving a serious look at the
proposal and everything it entails, that still wouldn't result in a final approval or
decision. It's still very much speculative at this stage. Until such time as I were to see
concrete support from Richmond, it would remain very much speculative in
nature.

I haven't looked at Sungold, because this is very much a speculative venture right
now. It's somebody's dream, somebody's trying to come to reality, and one of the key
hurdles it has to overcome is municipal support, I haven't seen that yet. For me to
do anything else other than watch with interest, really I don't think is going to
accomplish much.
Steven Wu

Yes, he has talked to one of my staff... If he puts in a proposal, we will take a look
definitely.

Again, we don't know until they give us a proposal.

Basically we're doing business and industrial only, at this point we're not looking
for residential.

Kim Hart

That location is an ideal location from a traffic point of view, close to the
infrastructure of the airport. We've been meeting with the Harbor Commission.
They have always believed we're a compatible neighbor. We make sense as a buffer
between their project and the agriculture. I just didn't want to incur the expense to
put the parking and grandstand on the land, because it's an added expense that we
didn't need to do, but now because we're being forced to do that, now we're going to
expand the show horse area and make it more of a competitor to Spruce Meadows,
that's another way we can justify increasing the size of the project. So, it's going to
make it a little more upscale project than we anticipated.

There's a world of difference between betting at the races and betting at a casino, not
the least of which you bet every 30 minutes versus every 10 seconds. The thing that
the public doesn't really have a clear distinction between right now is that very fact,
casino gambling is very much hard gaming, a race track there's heckuva lot of
socializing involved, it's a sport, a very huge sport.
We do offer an opportunity to have a buffer between the farming area and the
enormous industrial park that's going to be there. We've also talked to the people at
MoTH, the head people told us that it's consistent with the regional planning
objectives.

It's a win win, if we do something together. We need to create access for the race
track patrons, they need to create access for the industrial park. It's a win for the
neighborhood. What we're proposing is to have a ramp come off 91 right on to
Nelson. There's no houses on Nelson, we can divert traffic away from the
neighborhood. There's even a chance to diver trucks from there.

Definitely early in the fall, we have to move quickly because the plans are moving
quickly with Interport. We have a deadline of April 2001 to get the track going.
Everything's got to be on the fast track now, we've just got to get our ducks in a row
to get back to the city of Richmond.

It was a pretty impressive display there yesterday.

-retainer for option from Gilmore

Our payments have been made, but we've also extended it on a longer term basis.
It's going to go to the fall of 1999 now, just to make sure there's enough time for the
planning department of Richmond to be involved to do all their work in terms of
rezoning.

-update on Korea and Michigan

Things have gone real well for us in Michigan, they had a referendum yesterday and
they approved the concept. It's like a domino effect, the three casinos going into
Detroit, the MGM Grand, Circus Circus, and GreekTown group are going in the bad
neighbhorhoods in Detroit for four years, they just got approved by referendum
yesterday.

They're not going to stand in the way of the compacts for the tribes. One is linked to
the other. The final domino that has to fall is the recognition from the federal
government, which we expect soon.
Michael Jackson's planned Motown theme park lost, voted down 57-43.

We're being very cautious in Korea right now, we just received a report from
Anderson Consulting, it's like 300 pages, although the report is very positive, we
want to advance Korea very cautiously, we don't want to become exposed to the
crisis over there. Our movements from here on are going to be very judicious, we
want to maintain the opportunity over there, but on the same token we don't want
to be one of those companies that gets drawn into bank defaults, general strikes and
all that crap that's going on there. It's kind of a tricky balancing act going on. We
have had some major international conglomerates that have approached us that
perhaps have more stomach for the risks that area associated. If we can structure
something with one of them where they take the majority of the risk and we still get
a good interest, then we may go that route.
09gamble
Richmond could eventually have two casinos and a horse racing track.
Mike Famworth, the NDP cabinet minister overseeing gambling expansion, said
successful applicants for destination casinos will be announced within the next few
weeks.
The fate of the Musqueam Indian Band's proposal to build a casino on vacant
reserve land north of Vancouver International Airport may finally be known.
Richmond city council has given interim approval to Great Canadian Casino Co.'s
bid to move its charity casino into the empty Bridgepoint market complex. A public
hearing is scheduled for Aug. 17.
Despite a requirement that new destination casinos not adversely impact existing
charity gambling halls, Famworth said both the Musqueam and Great Canadian
could co-exist.
"The two proposals are in isolation from each other in that the Musqueam proposal
is made on the basis the Great Canadian Casino is already up and running,"
Famworth said Tuesday. "This is a large area with huge market potential, each
proposal will be evaluated on its merits and set of crieria and the decision will be
made on that basis.
"The largest size a destination casino can be is 300 slot machines and about 30 tables,
which is a similar size to a charity casino, and there is over 100,000 people in
Richmond alone, and also right next to 500,000 people in Vancouver, so if you
approved one or both, I don't think that would have adverse impact. The Great
Canadian Casino has not indicated to us any opposition to other casinos in the
Richmond area."
As many as 300 slot machines and 30 tables could be installed in the Musqueam
facility. Slot machines won't be allowed at Bridgepoint; though it's on provincial
Crown land, it falls within the City of Richmond's jurisdiction.
Famworth added the provincial government, through the B.C. Lottery Corporation,
returns to court in September with Great Canadian casino to pursuade a judge to
overrule slot machine prohibition in Vancouver and Surrey.
Meanwhile, Famworth said he'll only seriously entertain Sungold Gaming
International's Richmond Downs horse racing track proposal if Richmond city
council approves.
"I have met with Sungold and I have made it clear to them that they need to get the
support of the city of Richmond," Famworth said.
"This is very much a speculative venture right now. It's somebody's dream,
somebody's trying to come to reality, and one of the key hurdles it has to overcome
is municipal support."
Sungold wants to build a $160-million successor to east Vancouver's Hastings Park
by spring 2001 on the 92-hectare Gilmore farm on Westminster Highway and No. 8
Road.
Sungold's first application was turned down because of council's hardline farmland
preservation stance. Sungold is talking with Interport Developments about leasing
Fraser River Harbor Commission industrial land where it could build a paved
parking lot and grandstand for up to 20,000 people. Sungold president Kim Hart is
confident council and Agricultural Land Commission would allow the track and
barn facilities on the land.
"We do offer an opportunity to have a buffer between the farming area and the
enormous industrial park that's going to be there," Hart said.
Interport plans to begin a 15-year, $500-million project to transform the Crown land
into a high-tech, light industrial park. The Fraser River Harbor Commission wants
to use profits to build a deep sea port on the river.
Bill McNulty
There was a timeline set up earlier to try to meet before
the election in 1999, but that's a false premise and a false
goal. This project is such a magnitude that it's going to
last 50 years, it's not a five year project.
We have to deal with it thorougly. We don't want to fast
track it, we want it to be a showcase and a workable place
for our staff and an open, front of house for service for
the community. We definitely want to enhance that.
If we go too fast we're going to miss things. We want to be
very very thorough. We've added six months on to the finish
date, which will be the middle of the next year.
Some members of council felt pressed to try to rush this
thing through. I believe we should slow this down.
We need to take into consideration parking, cost of
construction may change. Six months isn't going to make the
world of difference.
--increase in parking spaces
This job will be done properly, it will be something we'll
be all proud of and it's going to be a legacy we're all
going to be behind.
will do a workshop
has a list of buildings across Canada.
--size of council chambers?
The ballpark figure is a little bit more than it was before,
the $37 million and change. There's some expense there that
we need to consider.
We've done an awful lot in a short period of time, the staff
and consultants have done good work. Now that they've done
all this, we've got to consider it.

structure, height, retail or commercial space hasn't been

"crystallized".
Kim Hart, Sungold Gaming International
We still just in a technical preparation stage. Nothing
organized. We've got a lot of people to pull together to
make this work.
The purpose of our meeting Thursday is a focus group with
the horsemen, to make sure that we are all on the same page
and focussing our interests in the same direction.
stock status? trading.

Fairly soon I understand. All the due diligence reports that

were required by the exchange were submitted a few days ago.
I imagine, but I can't be certain, it'll be within a week.
Our architects are going to be there, our engineers, our
track designers. It's strictly a closed door meeting for the
horsemen themselves. It's necessary that we have a clear
working relationship with all the horsemen's organizations
before we go forward. In the past, horsemen have tended to
be so independent that they don't work together, the
different organizations quite often fragment and go in
opposite directions with different programs. Something this
important it must take the energy.

--horses in B.C. derby

One horse came third in the $100,000 race and I'm pleased
with his performance. He ran with a few physical problems
and still came third. Vancouver Vice. You can't complain
about that, he's a young little baby horse, two years old.
^:lui&.- ^^
KH We don't feel it's obtrusive. The race track will be on
this side. It won't be annoying to the temple. We plan to
build a massive berm.

--parking on east side, with potential for future parking of

horse barns. No cars in barn area.
which side of road.
HB Don't be too explicit on that one. The architects have
their own ideas.
93 acres on east side, remainder on the west

why Rmd?
hb "My eye caught Mr. Hart's eye, he is the expert in this
field. I defer to him when it comes to knowledge in this
field. It makes sense to me. It's right now in the
agricultural land freeze, but the use wouldn't be much
KH We don't feel it's obtrusive. The race track will be on
this side. It won't be annoying to the temple. We plan to
build a massive berm.

parking on east side, with potential for future parking of

horse barns. No cars in barn area.
which side of road.
HB Don't be too explicit on that one. The architects have
their own ideas.
93 acres on east side, remainder on the west

why Rmd?
hb "My eye caught Mr. Hart's eye, he is the expert in this
field. I defer to him when it comes to knowledge in this
field. It makes sense to me. It's right now in the
agricultural land freeze, but the use wouldn't be much
different from agricultural, horses belong to the farm area
and I think the horse track is not going to be offensive in
this environment.
tourism could be the mitigating factor to change council's
mind, because council is opposed to new farm land and
gambling.
"It could be..
kh industry employs 3,000 at HP, "in effect we're moving
something from an area that does not want to have racing and
a fair to an area that's compatible. That area would then be
reclaimed and become HP. That's what the community wants and
the people and the MLA want, they want that area to be a
park, they want salmon spawning there. The highest and best
use for this area would be a race track with horse barns.
It's the Kentucky of the lower mainland.
Horse racing has a gaming element, but everyone knows horses
are the stars.
would create 7,000 jobs, many for people who wouldn't work
elsewhere
"Richmond is in desperate need of a world class tourism
attraction. Richmond is a city looking for a heart, a
destination to be drawn to it. That's what we can provide to
it.
Horse racing in HK is so successful that all the wagering
that is done in Atlantic City and Las Vegas does not exceed
the wagering done by the race tracks in HK.
There's an argument to be made and we intend to make it that
there's no need to take this land out of the land freeze. We
intend to use this for agricultural purpose, the care,
maintenance and racing of horses. There's no reason it has
to leave the ALR, we don't want to stir the pot that much.
--owns Goldrush Dynasty, Parbuster, Sungold Express, "I
enjoy the business, I enjoy the people and the people in the
industry. If you talk to the horsemen you will find they
have been desperately crying out for help, the industry
right now, without a facility like this cannot survive. With
a facility like this it can thrive.

Auburn, Wash., Dallas-Ft. Worth, etc.

kh I'm personally a horse owner, some of my best friends
have serious investments, I'm a member of the HBPA and this
is something that will either be done first class or not
done at all. We won't put our name on something that isn't
done right.
As far as the stock market is concerned, it's an opportunity
for B.C. citizens and B.C. pension funds to invest in a B.C.
product that will create jobs for B.C. citizens. I can't see
why anybody would be against something that's going to
create opportunity for Vancouver and B.C. investors and the
Vancouver Stock Exchange. It's a classic example of
something that's better done publicly through equity than
privately through individuals' money. We have investors who
are interested because they see this as being an opportunity
for profit through the stock market through time.
hb The deal has been closed. We have taken out an option and
it's registered and it's all put to bed.

price?
We'd rather not to say at this stage.

previous owner?
kh "the Gilmore Family, Don Gilmore.
kh The gov't has final say, we'll be working with them. We
just happen to think their best choice is they have to do
something.
...and to the horsemen, the breeders, the public at large
and the city of Richmond. There's a lot at stake here, a lot
of jobs, taxes, probably the biggest tax producing industry
Richmond would have outside the airport.
hs we spent a lot of time with it, but then that's the way
it is in business, you see an opportunity, but sometimes
things don't work out the way you want to of course you make
a step back. But that's been taken into consideration from
our point of view.

S. Korea/Gun Lake
hb We've set up a co. over there, we have Korean partners
that own the land and we'll joint venture with us to develop
it. The first step is to get the necessary licenses, and
there have to be a number of changes made by the govt before
those licenses can be issued.
It's an excellent oppportunity. Sungold will take on
partners, we're not big enough ourselves to do that. But
we've got our foot in the door, we've got a deal.

gov. struck task force to speed up project.

*kh: My family's lived in Richmond 40 years and we have a

certain reputation to uphold. We're not going to be involved
with anything that's a stock market promotion, we have a
good reputation in Richmond and want to keep it that way.
We have a lot at stake, we can't afford to be involved in a
stock market promotion.

(kh lives in Pt. Grey; father Ken Hart a past pres. of Rmd.
Real Estate Board; was a reporter for the Vancouver Sun.)

Linda Reid, Richmond East MLA

It's not likely gambling expansion to facilities would be
considered appropriate to the ALR. A race track in itself
might be. They could claim that has some sort of
agricultural base to it. Gambling as an add on probably not.
I can't see it being supported (by municipality)
^ X

(NDP) don't seem to be opposed to gambling expansion. The

Liberal caucus does, we have a very firm policy on no
gambling expansion.
That's a hefty chunk to take out of the ALR, I don't think
that will be supported provincially. I'm almost certain.

David Milburn, pres., HBPA of B.C.

(ass'n of 2,600 owners and trainers of thoroughbred horses)

We don't know alot about the proposal at this stage, it's
difficult to comment on the merits until we have more
details.
No doubt, the thoroughbred racing industry in B.C. needs a
new facility with a one-mile race track, a new barn area,
state of the art grandstand, we require all these changes in
order to prosper and get ahead in the next century.
Our nearest competitor is Emerald Downs in Washington, 2 1/2
hrs. down the 1-5, they have a brand new one mile race
track, they're going to have a turf track in the future,
they have a beautiful grandstand, a wonderful barn area.
We're going to compete against Emerald in the future, their
purse structure is going to go up. Right now they're below
us but they've got what we don't have. We need what they've
got.
HP currently 5/8ths of a mile oval dirt race track.
--need purse and need facilities.

They've got a mile race track at Portland Meadows and they

don't bring in any world class horses. A mile track itself
is not going to attract horses. You put up the money and
they will come. You need a safe surface. A mile race track
i s i d e a l t o t h e i n d u s t r y.

Lorna Romilly, chair of B.C. Racing Commission (regulatory

body), also on Lotteries' Advisory Cmte. board.
In order for them to operate a race track they would need a
licence from the BCRC. Before we issue licenses we do an
investigation of the company, the individuals and their
financing and then they would also need race dates, which we
approve, but as long as there's a thoroughbred track
operating in the Lower Mainland, like HP, we wouldn't
approve race dates at any other track. Vancouver can't
sustain two major race tracks, we just don't have the
horses.

They would have to talk to the PRA about that. Nobody' s come
to us with any proposal of any kind.
If they wanted to move and operate another track, yeah,
they'd have to redo the licence. If Sungold wants to operate
a track and PRA becomes part of Sungold,it isn't automatic
that they would get the licence. It would depend on what the
i n v e s t i g a t i o n o f t h e i r fi n a n c i n g a n d a b i l i t y t o r u n a t r a c k ,
what happened in that investigation would determine whether
or not they're suitable to run a track and have the funding
that could do that.
A new track is not part of that (LAC), not at this point
anyway.
The province has offered slot machines to all tracks, 300
slot machines in an equivalent rate as they have to the
charity casinos. Depending on how often they run.
--due to municipality bylaws.
Race tracks and casinos, a number of race tracks in the
States have gone into the casino business and the casino
detracts from the people who play the horses if they're in
the same location.
You still want people there to play the horses and watch the
races.
--there was another proposal for land eyed by PNE on NW/Coq.
border
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M R R . i l . 1 9 9 8 4 : 0 5 P M T O W N S E D G E P R O P E R T I E S N O . 1 7 6 P. 2 / 2

TAC INTERNATIONAL INVESTMENTS LLC

15500 Wayzata BLVD. Suite 908
Wayzata Minnesota 55391 USA
612-473-9600
DONALD R. HARRIS
CHAIRMAN AND CEO

I am fully committed to the equity financing necessary for

Richmond Downs race track. We recognize that Richmond Downs will
require government approval to be developed within the British
Columbia agriculcural land reserve.

For the record TAC International has no interest in any

other developments in British Columbia.

Richmond Downs promises to be a world class thoroughbred

facility, and as such I am sure that Richmond Downs will be a
major destination for international tourists, and a source of
great pride to all Richmond residents.

Donald R. Harris
TAC International Investments LLC
Chairman and CEO
David Milburn, president of HBPA
--all directors plus one paid officer (12) were there
"You have to be impressed by the architects they've
employed.
You have to look at the initial work that they've done and
be satisfied with that, becaue they're employing a leading
edge architectural firm. They've got some good technical
backup and support. We still have additional questions and
additional concerns. We're in the process of posing those to
Sungold, and that will occur in the next two weeks.
HBPA will also meet amongst itself.
VSE halt order?
"We're concerned about that obviously. I didn't know.
I'm not able to give a position on behalf of our group. It's
way too early for that. What we saw last night, you can't
help but be impressed by it. It's a fabulous race track
that's planned. Where the money is coming from, getting it
out of the ALR, getting the authority to go ahead with the
gaming..."
--MarkTrend survey: "We were told it was 74 per cent in
f a v o r.
The opinion poll was presented quite quickly.
We understood it was a very good response by the Richmond
community to the race track, which is encouraging.
involved with Race horse Alliance of B.C. "talking with
government to come up with a fair deal for racing in this
new climate for racing. All the slot machines planned for
B.C., Lower Mainland especially, it's going to erode our
handle. We spent a considerable amount of money doing
research, we hired Brerfoot to prepare a report for the
government. It showed we can expect a decline in the handle
of 20-40% because of the cannibalization of slot machines.
They'll eat up the money that would go into our mutuel.
We're involved in a process with government, with the
Lotteries' Advisory Cmte., Peter Clark is in charge of.
We're trying to carve the best deal we can for horse racing.
--concerned with competition in the realms of both gambling
(gaming expansion) and entertainment (Canucks, Grizzlies,
MoIson Indy)
--gov't gambling competition from crown corporation lottery
"It's a tough market out there."
"There's no question we need a new facility, absolutely no
doubt, in order to compete and bring racing to the 21st
century, be viable and recharge our industry. We need a new
facility. We need a one-mile plus race track and state of
the art grandstand in order to be competitive.
We've got a number of questions that we require answers to
that were not posed to the group last night, that will be
posed to the group in the next few weeks. We've got some
concerns and we'll put them to them.
 &/[ *- ft 7
Kim Hart, Sungold Gaming International
on Thursday evening meeting at Delta Airport Hotel
We still just in a technical preparation stage. Nothing
organized. We've got a lot of people to pull together to
make this work.
The purpose of our meeting Thursday is a focus group with
the horsemen, to make sure that we are all on the same page
and focussing our interests in the same direction.
--stock status? trading.

Fairly soon I understand. All the due diligence reports that

were required by the exchange were submitted a few days ago.
I imagine, but I can't be certain, it'll be within a week.
Our architects are going to be there, our engineers, our
track designers. It's strictly a closed door meeting for the
horsemen themselves. It's necessary that we have a clear
working relationship with all the horsemen's organizations
before we go forward. In the past, horsemen have tended to
be so independent that they don't work together, the
different organizations quite often fragment and go in
opposite directions with different programs. Something this
important it must take the energy.

--horses in B.C. derby

One horse came third in the $100,000 race and I'm pleased
with his performance. He ran with a few physical problems
and still came third. Vancouver Vice. You can't complain
about that, he's a young little baby horse, two years old.
remain halt order
Oh, it's not going to affect it at all. The company has been
having a dispute with the VSE for some time.
The company is not supported by the VSE, the VSE has never
done any financing for Sungold at any time. Sungold is
financed itself by its own management. The VSE has taken it
on themselves to make Sungold their own private short.
Those are erroneous reasons that have no basis in fact. The
company is aware of the fact the VSE has a large short
position.
--William Herrenson, on board of Promus (?) Corp., the
world's largest public casino company in the world, was on
board of dirs. for five years.
"If you can somehow make a connection from there that we
lack management that has experience in gaming, I don't know,/
how you would do it.
We're not intending to deal with the VSE anymore. This
company is moving to the States and Ontario and will be
trading there. We will not be trading on the VSE, you will
see an announcement sometime in the next two or three days
to that effect.
We have no intention of playing short sell games with the
Vancouver Stock Exchange.
wouldn't say which exchange
The Vancouver Stock Exchange received a report recently from
Merit Investments. Merit is a member of the VSE and they're
also a member of the Toronto, Montreal and Alberta stock
exchanges. They're a national brokerage firm. Merit strongly
recommended that the Vancouver Stock Exchange immediately
reinstate Sungold for trading because all the due diligence
they asked for had been concluded. This is after several
months was spent on Merit's report for the exchange, at
Merit's request. The exchange, 24 hours after receiving the
merit report, put out these erroneous statements.
Merit continues to operate as sponsor and will facilitate
trading in Ont. of Sungold.
--copy of report?
"The report is 100s of pages thick and it's a report for the
exchange by Merit.
When we make our next press release in two or three days,
there will be some quotes from Merit in there.
J e ff C l a r k , s e n i o r o f fi c e r o f M e r i t i n To r o n t o .
--will head office move or senior executives move east?
"I don't know yet, this company is international. It does
business in Michigan and Korea. We're not a local company
per se. The reason we were put on the VSE is because we're a
development co., and it was an appropriate exchange to start
a co., but not when they treat you like that.
The company is in first class shape, they have a dispute
with the VSE, that's it.

They started playing halt trading games.

Feel free to call Merit. I'm sure they will affirm what I've
told you.

Geoff Clarke, Merit Investments, Toronto.

I'm not sure what I want to say to the press.
What Merit did was a very thorough due diligence background
check on Sungold and on the contracts that Sungold has in
place and the people who are involved with Sungold and the
people who Sungold does business with, the VSE said that
Merit did a thorough job and exceeded their expectations,
this is Warren Funt that said this, as far as the
thoroughness of the investigations that we did.
We presented those material facts to the VSE and this is a
conclusion that they came with.
--in your opinion, are the conclusions they came with
incorrect?
"I decline to comment on that.
We're discussing that (the VSE conclusions) with the company
right now, what our next step will be.
Our report is confidential between the VSE and the member.
We can't give that out.
--do you agree or disagree with the VSE position to keep
this halted?
"I can't comment on that.
"We looked at that (Richmond Downs), they have an option on
t h a t p r o p e r t y. "
Bob Stirskey, chmn of board Pacific Racing
Association/interim GM at Hastings Park Racecourse (7/2)
We've been there in the late 80s, out of all those proposals
the gov't did create the PRA which operates Hastings Pk.,
along with operating HP the PRA has the authority to control
thoroughbred racing in the province, they need to talk to
us. The first I heard of it was when I read it in the paper
this morning.
The one big stumbling block for all the other proposals in
the late 80s was that the gov't needed some level of comfort
that whatever financing was involved was appropriate and
sufficient. Nobody could really provide those kind of
guarantees to the gov't at that time. Out of that evolved
the PRA, the PRA hasn't talked to these people yet.

Right now we have the potential for 21 1/2 years remaining

in our lease with the city of Vancouver and it is our
intention to stay here unless something better comes along.
This may or may not be the better. We've seen a lot of these
types of proposals for racetracks, it seems to be a romantic
thing in the eye of many.
To m a k e i t w o r k t o d a y i t ' s a d i f fi c u l t t h i n g . I f i t ' s a
standalone it's very difficult, racetracks, the newer ones
that are successful seem to be tied to hotels and theme
parks and need to have the ability to have other forms of
gaming.
The 300 slotmachines the provincial gov't has recently said
that race tracks could have to offset other forms of gaming,
the city of Vancouver isn't going to allow HP to have those.
We're going to be at a definite disadvantage when competing
with other casinos. Those are all significant hurdles that
need to be overcome.
if all came together, incl. gov't approval, would you
move.
That would be an industry decision, quite frankly. They
would have to have everything right for us to consider it
and they'd have to get it built and be able to prove they
can at least for the short haul finance it and manage it
properly without offloading the expenses on the industry and
end up in Seattle where they have a nice plant, but the
purses are very much lower than ours.
($2,500 purse down there would be $5,500 up here)
industry has had to pay for Emerald Downs
The whole industry would love a brand new facility, no
getting around it. The industry would certainly look at any
proposal, but myself, I have a fairly jaundiced eye about
all these.
They' re a long ways away from even coming and talking to us,
if they want to talk to us conceptually, I don't have a lot
of time for that, there's a lot of people out there with
different concepts, but if they do get through the few
hurdles they need to get through, certainly they should come
and talk to the PRA board.
The logic behind the location makes sense, certainly there's
a huge Chinese population there that they could tap into,
quite frankly we're trying to figure out ways to tap into
it. We will entertain them if they come to us with a
proposal somewhere down the road as various groups have, but
until they get that far I don't think it's worthwhile to
talk to them.

Kim Hart, vp corporate affairs, Sungold Gaming International

There's a lot of people who are prominent horsemen involved
with horse ownership and horse racing in Hong Kong that live
in Richmond, also some of the people that are involved in
horse racing here in North America, both here in Vancouver
and also in Calif., Ky., Chicago have been for some time
looking to Richmond, not particularly Richmond per se, but
have been looking to Vancouver for a potential site for a
track that could precipitate racing for Hong Kong and Calif.
THere's a need for a world class track to race some of these
horses that are racing in So. Cal. and HK, HK has a gap
between the middle of June and Sept. when it's too hot to
race horses in HK, it would be perfect for Vancouver's mild
climate. In particular in Richmond there's a particularly
large number of people who are horsemen that are also
horsemen in HK that have high quality horses that they can't
race here in Vancouver because they don't have a proper
world class race horse facility.
In order to bring those horses over, the track has to be
built to very strict specifications and have the same kind
of guidelines you have at Sha Tin or Happy Valley, but we
have some of the bigger people in horse racing in North
America putting together a thoroughbred airline that will
fly back and forth between HK and Vcr and Ky. and Calif, so
horses can be moved economically and rapidly with a
veterinarian on board, that makes it relevant to have a race
track.
We also have assurances from the gov't that they're willing
to have slot machines to be at the race track. They want the
race track, the one that's in existence right now, to have
it anyhow.
The horsemen find that it's so hard on the horses and
they're unable to bring in the good horses and the HP
community area are dead opposed to the PNE and the race
track and they want it out of there. They want to have a big
park instead, there's just too many people living in the
v i c i n i t y, I g u e s s .
--who in gov't has said racetrack wants to move to be away
from area residents?
"The MLA in the area, it's common knowledge, they've been
wanting to move the race track for a while.
Joy McPhail?
I don't want to be quoted, I don't want gov't discussions in
the newspaper. I'm just telling you there is a strong desire
to move the race track. And also the horsemen themselves,
the facility that we're proposing would be a facility that
would bring tourism to Rmd. and B.C., tourism in Richmond's
case that Richmond has not experienced before. It would be a
real magnet for tourists, simply because world class horses
would be able to race on this track and it would be a
novelty to see them.
--turf and dirt tracks, family area, "it would be a facility
that would rank up there with some of the top facilities
around. The property is a beautiful venue.

panoramic views, "hardly any neighboring populace to be

disturbed, it's very discreet. It's not a problem with apt.
bldgs, and big subdivisions.
--not like Burns Bog, which was ecologically sensitive.
"It's close to the airport in Richmond and the arteries
coming from 91, Surrey, Delta, Bby-NW and the Knight St.
Bridge and 99 from the states. It's a nice central location.
I'm not sure if you've been out that way lately, but when
you drive east on Westminster Hwy and start heading out to
the farmlands it gets very quiet. It's only four miles from
3 and West'.
--location?
It's near No. 7 Rd., 7, 8 Rd., in that area. South of the
connector, but further east (of Mayfair Lakes, etc.).
Recently they've had golf courses put in there which
obviously is not agricultural use, this is a proposal which
will probably end up being non-agricultural use description,
actually it's kind a borderline. Horse racing is by its
nature an agricultural activity, in B.C. there's 50,000
acres being utilized for horses racing at the race track.
Most of the land would be tied up with the maintenance and
care of horses, so it's actually an agricultural function
that would be taking place there.
We're working with all the levels of gov't, that's one thing
we don't want to tell any level of gov't what to do. We just
give them the proposal and ask them what we can do to make
it work.
We just got the land the other day. We're a public co., we
have to put a news release out the moment we secure the
land. We only did that just on Monday. Now we're on a
position where our architects are going to be making a
proposal. We've been told by various levels of gov't there
is a strong desire for a first class race track and the
gov't has indicated they are willing to have slot machines
at the race track. We want to build a facility that will be
economically solid and yet unobtrusive to the community, we
don't want to have a facility that will run in the community
and not create sparks, we want to have a big burm, big hedge
that will cut down the noise.
The site is also situated on ground that can only be
d e s c r i b e d a s fi r s t c l a s s f o r r a c i n g , i t w i l l b e t o p s o i l t h a t
Richmond is known for. There was a track called Brighouse
Park that was historically one of the greatest tracks
around, that was shut down years ago, when it was moved to
Exhibition Park. This has got the same type of soil
conditions.
ALR; gambling and council?
I can understand where they're coming from, because it's the
thin edge of the wedge.
There certainly wouldn't be any tables. We certainly know
one thing, we know that the public of Richmond are very much
in favor of anything in this area particularly a race track,
we've done a survey and we've found the public is
overwhelmingly in favor of a race track. We did them
i n t e r n a l l y.
can I see results of survey?
You'll have to do your own survey. We have done surveys. We
have no desire to get into a public argument over whether or
not this is viable. We'll make a full presentation and let
everyone decide. We don't want to go ahead unless the
public's in favor of it.
This is a project that will ultimately be Richmond's prime
tourist attraction. Richmond is a city without a prime
tourist attraction. This is something that will be for HK
people the number one race track outside of HK, that they
would want to patronize.

Quite frankly, it will probably remain within the ALR and be

operating only as a race track. We don't intend to build
anything else, shopping malls or 'four stars' (hotels?), and
there really is no other way to build a race track, you
don't have any other choice. The best land is farmland.
Bear in mind the horse track in Vancouver makes possible
50,000 acres of land throughout the province that is used to
support the racing industry to make that race track work.
--cost of development?
We know what the cost is but that is something we're going
to release in a full presentation, because we don't want to
r e l e a s e t h i n g s i n p i e c e m e a l u n t i l w e ' r e r e a d y. Yo u h a v e t o
appreciate, though it may frustrate you as a newspaperman,
we as a public co. have to put out a news release whether we
want to or not, when we enter a transaction like this.
You're going to have to wait probably two or three weeks
more before we give you all the details of the project.

--bought land from?

I t ' s o n e e n t i t y, b u t a t t h i s t i m e w e d o n ' t w a n t t o h a v e t h e m
be inundated by people phoning and bothering them.

- - V S E p u b l i c i t y, p o s s i b l e s h a d y d e a l i n g s ?
The person who wrote that article is known for his scathing
c o m m e n t a r i e s a n d s e e t h i n g n e g a t i v i t y, h e h a s l i t t l e o r n o
c r e d i b i l i t y w i t h t h e c o m m u n i t y. A n y o n e t h a t I k n o w d o e s n ' t
read his columns with any kind of seriousness. He's
b a s i c a l l y a s o a p b o x t y p e o f w r i t e r, w r i t i n g s t o r i e s o f
sensationalism. We're running a business and we don't have
time for that.

--what was inaccurate about Baines' story in Wed. Sun?

The whole slant, the whole thing. For example, he talks
about management. He doesn't mention the fact our board of
d i r e c t o r s i n c l u d e s a m a n w h o f o r fi v e y e a r s w a s a d i r e c t o r
o f t h e l a r g e s t c a s i n o c o m p a n y i n t h e U n i t e d S t a t e s , D r.
Willy Harrington. He doesn't mention the fact our co. has
successfully secured a site in Michigan which was just the
other day approved as the only site between Detroit and the
Ohio border for a casino. That's a big coup for a Vancouver
co., that's going to be a very large casino.
Our co. is a real estate development co., we were only set
up a few years ago for the express purpose of developing
land.

Those two products (Voice Cap System, Rabbit Ovulation

Monitor) were only when the co. was taking over an existing
co. The Vancouver Exchange advised the co. to buy any sort
of small business, any sort of invention they could use to
e ff e c t t h e r e v e r s e t a k e o v e r o f t h e o t h e r c o . b e c a u s e t h e
exchange rules require that you have some sort of business
venture when you takeover a co., so the co. purchased those
products and sold them immediately thereafter and then began
t h e p r o c e s s o f s t a r t i n g t o fi n a n c e d e v e l o p m e n t o f c a s i n o
properties. That's something that would be on the advice of
the exchange, that's something that the co. wanted to do,
you have to do whenever you do a reverse takeover of a co.
Gun Lake Indian Band in between Detroit and Toledo, Ohio
casino.
"You're going to hear a news announcement soon about a major
casino operator managing that property for us. We're a real
estate development co., we don't manage these properties.

thoroughbred airline to start up in a year or so, before

track is built. "The people that are behind it are some of
the most prominent horsemen in North America,
--head office? "I'm not sure, either L.A. or Ky., but it's
going to be structured so it can move horses from the top
four or five locations on a regular basis.
who are major investors and advisers?
"I'm not at liberty to discuss any names just yet, but you
will get more information about that when we start talking
about the investors and we start talking about the financing
of the project, then we'll start releasing this information.

We're hoping for spring 95 and that all depends on how fast
we can get gov't approvals. I know the horsemen are very
anxious to get it done, the sooner the better. Horsemen in
general, and you can talk to the pres. of the Horsemen's
Ass'n, I'm sure you'll find that he also, I've talked to
him, and he's very much in favor of getting a first class
track, he'd like to have it done as soon as possible. Pretty
much across the board, the horsemen are behind it.

Officially we haven't gone to anybody yet with the proposal

yet, we just bought the land. You're jumping the gun a bit
here. The first step is to get the land, now we're going to
put a proposal together for both the gov't agencies and the
horsemen's ass'n, and we'll be making official proposals
probably sometime within the next three or four weeks.
status of stock?
The stock, because of the major changes that are taking
place, the company is going through a change of business
filing and Merit Investments out of Toronto is the sponsor,
it's going to make the filing in a couple of weeks and the
stock should be trading before the end of the month of July.
THe co. is growing, as you can see, quite rapidly. It was
originally a co. assembling properties for potential
development, now these properties are not just potential
developments, the properties are about to be developed. That
will be in place approx. by the middle of the month.

exchange will do due diligence in the next week or so

stock just finished splitting 3 to 1.
--company name change recently.

a i l i n g fi n a n c i a l m a r k e t s . D 3
Sands Petroleum is offering to acquire In
ternational Petroleum Corp. of Vancouver to cre
ate a globally competitive company. D4
All that's keeping some Canadian manufac
turers from annihilation is a slumping loonic, a
top investment firm's economist warns. D7
People involved with Greyhound Air would like
to sec the airline resurrected after its Sept. 21
grounding, but industry observers say that's un
l i k e l y. D7
W2SB
V VSE - 3.41
lional audience. Premier Glen Clark
said Wednesday.
"I don't think there will be any
specific deals [from the November
meetings], but I don't think it is too
much of a stretch to compare Expo
86 lo this," the premier said in an in
terview. ,
While Expo was a "people's fair,"
Clark said APEC will draw several.
thousand of the world's most pow
erful and influential people.
838.92
summit in 1993.
Clark noted there will be an esti
mated 500 million TV viewers who
will see coverage of the meeting be
tween 18 leaders of Asia-Pacific
economies.
"You can't buy that kind of public
ity for any amount of money," he
s a i d . , . , i . >
B.C. already exports more than
$22-billion worth of goods to Asia
each year and is the primary benefi-
ligming Diotecnnoiogy, engineer
ing, value-added wood and build
ing products, subsea technology,
tele-medicine and distance educa
tion. ,.: ;,. .
It will be the only opportunity for
B.C. companies to meet with poten
tial buyers in Asia.
Clark said he also expects the first
" '" Please see B.C., D2
GLEN CLARK:
110NG KONG EXPECTS IMPACT. D2 "can't buy that kind of publicity'

.:, TSE 300 + 30.91 6,70-1.1G

.: TSE 100 * 1.54 401.26

A. TSE 35 t 1.10 351.22

A. MONTREAL 2.42 3.326.38

<tk D O W 3 0 * 14.86 7,894.64

*. S&P500 . .28 927.86

A. NASDAQ + .15 1,618.24

<t> N I K K E I * 502.65 18,735.17

A . LONDON Fr 100 + 25.0 4,976.9

A . HANG SENG 978.66 14,713.99

CANADIAN S - S.0004 $.7224

SI.4017
GORDON HAMILTON
US S (Con consumer rale) Sim Forestry Reporter

CANADIAN S IN - . 5 2 87.28 The provincial government accused the two banks that owi
-, UK POUND -S.0041 S2.1949Cdn Skeena Cellulose of blackmail after talks aimed at restartin
"T - S.50 S322.25 US
Skeena's financially plagued northern operations broke dow
G O L D ( N . Y. )

+ S.05 $4.69 US
A S I LV E R ( N . Y. )
V OIL (W. Tex. Int.) - S .05
IEHS
Investors reacted
Laidlaw shares warmly Wednes
rise on news of day to Laidlaw
Greyhound bid In'c.'s$100-mil-
lock up GO po c en t lion takeover offer
foi Greyhound
I Canada, driving up
* the price of Laid-
i 1 law's stock (TSE:
-Wednesday's close: $21.10-
l.DM) 55 cents on
| | I Up: 55 cenis
the TSE, on heavy
volume of more
Sept 3/96 Sept. 3/97
than 3.2 million
shares.
The shares closed at $21.10, more than 60 per
cent above the level ihey traded at a year ago. \
Laidlaw which has interests in ambulance ser
vices, school busing and municipal transit has
offered $5.50 a share for Greyhound. The offer is
conditional on Greyhound shutting down its 14-
month-old regional airline and returning to its
roots in the inter-city passenger bus and courier
markets.
The Calgary-based firm's passenger-bus business
generates revenues of about $180 million a year
and serves some two million passengers annual
ly.
Greyhound's shares, which soared SI. 85 or 51
percent after Laidlaw announced the offer Tues
day, gained a further five cents Wednesday to
close at $5.50 on the TSE..
Gary Ixtmphier
mmnssmsm
Funerals over-priced, Money says
North Americans are paying at least twice as
much as i hey should for funerals, according to the
September issue of Money.
An investigation by the American personal fi
nance magazine reveals that despite regulations
to keep price gouging in check, in I he past five
years the cost of dying has risen about three times
faster than the consumer price index.
The typical adult funeral cost $4,783 US in 1997,
according to the National Funeral Directors Asso
ciation, and cemetery expenses can push the total
above $8,000.
The magazine blames service charges that sky
rocketed 42 percent from 1990 to 1995, prepaid .
funeral plans that often fail to deliver on their
promises and a wave of corporate consolidations.
It says three conglomerates have stealthily bought
hundreds of funeral homes, cemeteries and cre
matoriums, all but eliminating competition in
many communities and raising prices despite the
cost efficiencies the buyouts brought.
The magazine's advice:
S19.63
. " , , : ' . S T E V E B O S C H / Va n c o u v e r S u n
UNDER CONSTRUCTION: Stafnet.CEO Mark Dohlen (above) and president Ja
son Bo|duc in their downtown office-in-the-making
Vancouver adult Internet firm
seeks Nasdaq public offering
DAVID BAINES
i'nri BusineSf Reporter
Vancouver company that of
fers live strip shows and inter-
. active sex via the Internet is
planning to go public in the U.S.
Starnet Communications Interna
tional Inc., which operates from its
13,000-square-foot head office at 425
Carrall, has announced it has applied
for a listing on the Nasdaq bulletin
board, which lists high-risk, specula
tive junior stocks.
Starnet chief executive officer Mark
Dohlen said the company is seeking a
public listing to further its ambition to
become the first company to offer In
ternet wagering.
"We feel we will get more credibility
with our clientsthat is, the gamblers
if U.S. securities regulators are
looking up our skirt," he said in an in
Prices of high-end homes
Wednesday.
Royal Bank and Toronto Dominion Bank said they have gi\
en the government until Sept. 15 to agree to an $85-millio:
loan on the banks' terms or they will abandon their plan t
restart Skeena Cellulose.
"In this event the company would be unable to file a viabl
restructuring plan under the Company Creditors'Arrange
ment Act and would have no alternative bin to assign itse!
into bankruptcy," said a terse Statement from court-appointe
monitor David Bowra of Coopers 8c Lybrand Ltd.
Deputy premier Dan Miller said he now views the banks j
the obstacle in reopening Skeena's Prince Rupert pulp mi
and three northern Interior sawmills. More than 3,000 peopl
have been out of work since June 27 when the company ra
Please see Banks, D
Code's limits raised,
enviro groups claim
GORDON HAMILTON
Sun Forestry Rrimrter
Environmentalists say one of the major conservation initi;
tives of the Forest Practices Code has been revised to alio-
more trees to be logged, including timber in some old-growt
forests. u
The allegations by the forest caucus of the B.C. Enviror
mental Network arise from a leaked forests ministry men:
that instructs field staff to apply the bio-diversity- guidebook -
the key to the code's wildlife conservation initiatives in
more limited fashion.
The Aug. 25 memo, signed by the deputy forests and env
terview Wednesday. ronment ministers, says timber supply must not be coi
strained beyond a level set by the chief forester in 1996.
The company, registered in
Delaware, has 65 employees and oper
ates several adult-oriented Web sites
The memo, along with a related cabinet briefing note, wi
released Wednesday by environmental groups opposed to tl
through its Canadian subsidiary, Star- changes.
net Communications Canada Inc.: 'The bio-diversity guidebook is based on the advice the go
Q Club Sizzle, which offers its mem ernment's own experts came up with. Now they are sayin
bers unlimited access to its Web site for they can't do it because the timber supply is threatened," sai
$19.95 per month. Features include Jim Cooperman of the B.C. Environmental Network fore
live shows from No. 5 Orange, a Powell caucus.
Street strip bar that Dohlen describes David Boyd of the Sierra Legal Defence Fund said the mem
as the firm's "strategic partner." shows the government is unwilling to protect bio-diversity if
According to Starnet's disclosure has an adverse impact on logging.
documents, the Sizzle Web site has re Patrick Moore of the pro-industry Forest Alliance of B.<
cruited more than 10,000 members said the memo shows the government is attempting to br
from 60 countries since it was ance the two objectives of maintaining bio-diversity and a \
launched in September 1995. able timber-based economy.
Chisel Media, described as one of "They have a target for how much timber they want to g
the top Internet gay sites in the world. off," Moore said. "They want to do it in such a way as to mil
It claims to have attracted 2,000 mem- mize the impact on this concept called bio-diversity, which
Please see Government, I
Please see Starnet, D6
A m
August single-family house sales
Saloe
Change from
list rtonlh
Average Change I'om
latt year
Median Change Iro
price

Q Call several funeral homes to request price lists.

Even in thesame neighborhood, prices can vary continue downward spiral Va n c o u v e r W c s l
Va n c o u v e r E a s l
B u r n a b y N o r th
100
170
35
- 16
-29
- 9
- 7
$743,900
$322,400
$424,700
-$ 56.900
- $ 9,300
+ $ 26,900
S64 2.000
$303,000
$390,000
-S
-$
t$
38.0c
6.0C
28,0t
by as much as $3,000. WYNG CHOW In August, 23 $1 million-plus 23 $384,600 -S 50,800 $327,500 -S 22.5T
S16
Burnaby Soulh
Q lie extra careful when shopping for a casket, .S'uii Asta-1'aeific KepOl UT sales were recorded, down from 31 Coquitlam 104 - 3 $300,000 + S 7,800 S230.000 0,t
which forms nearly half the cost of the average fu N o w We s t m i n s t e r 19 - 11 $267,300 -S 19.800 t Va n
Sales of million-dollar homes in such transactions in the same 93 -20 S237.000 S 8,700 S218.000 .$ 6.0C
neral. Avoid fancy add-ons, such as sealer casket, Greater Vancouver have dropped 31 month a year ago, when Revenue
Maplo Ridge.
N o r t h Va n c o u v e r 101 . 8 $408,200 -S 11,500 S378.0CO tS 13.0C
which serves no purpose. Canada's reporting requirements 44 -12 S690.700 S101.900 $589,000
per cent in 1997, and realtors con Wo s l Va n c o u v e r -$ 64.CX
U Don't pre-pay for a funeral and burial. If you tinue to blame the federal govern were first publicized. Richmond 137
51 S394.100 * S 2,400 S34 0,000 -S 3,3"
move awav. you may onlv be able to obtain a par- ment's foreign assets-reportine law I find-ritlf rr3P<:fprHnrttni <5r,th Dolts 19 - it sido noo 4 <: fit- (Wi S265 CXI -<: 8 0'

,;,lr,-r.,...i .,.......! .--..., :.. <


*
D6 The Vancouver Sun. Thursday. September 4, 1997
~ Continuedfrom DI
j bers since
Q Live it started
Women, in August
which 1996.
enables
I idients to interact with women on a
'One-to-one basis via the Internet.
I Dohlen said the women operate from
the Carrall Street office and clients
. are charged 99 cents to $4.99 a
. minute for the service.
The firm also operates Adultlinks,
an Internet search engine for adult-
oriented Web sites. Revenues are gen-
erated by monthly advertising fees
paid by commercial clients that mar
ket to the online adult community.
' j>ment
'According to athe
registration state-
filed with U.S. Securities
and Exchange Commission, Starnet
generates most of its revenue from
subscriptions to its Sizzle and Chisel .
Websites.
During the year ending April 30,
revenues jumped more than five times
to just under S2 million. Net loss was
$94,000, but after adding back non-
; cash charges (including S443,000 in
depreciation and $54,000 in deferred
What's new on TV this fall? What's worthwhile?
What's a sure-fire miss?
Those are some of the questions going through
the minds of TV viewers as the new fall
season gets ready to roll.
fJSjVtimes Editor Eric Kohanik gives his
^^ thumbs-up, or thumbs-down, to the bestf
and worst new prime-time shows of the
upcoming season. He'll also look at familiar
faces returning this fall, and offer his tips
on the prime-time picks.
TVtimes Fall Preview
income tax), the company generated
significant positive cash flow.
Starnet says it has obtained a legal
opinion that its distribution of adult
materials does not violate the Crimi
nal Code of Canada. It also notes the
U.S. Supreme Court recently ruled
that regulation of material transmit
ted via the Internet should be mini
mal.
As for the morality of offering such
material, Dohlen said: "It's just like
Playboy magazine. If you don't want
to read it, don't buy it."
He also said credit cards are re
quired to gain access to the sites:
"The Visa and Mastercard people
tell me they are only issued to people
at least 18 years old, unless its a sup
plementary card, which we can iden
tify through our own processing ser
vices."
He conceded the firm's sites offer
numerous explicit photographs to
non-members, but said it is up to par
ents to monitor viewing by minors.
The company also plans to launch
an Internet lottery and gambing ser
Don't miss C4
theTVtimes
vice through an Antigua-registered
subsidiary, World Gaming Services
Inc.
Dohlen said the company, to garner
credibility among prospective gam
blers, is trying'to forge relationships
with established casino and racetrack
operators.
He said the company has made a
deal with the Ontario Jockey Club to
broadcast races from its Woodbine
track but is not yet accepting wagers.
holders include:
The company says regulations for
Internet gaming are not well defined
in Canada and the U.S.
. To avoid legal problems, it plans to
deal only with bettors who reside out
side North America.
The company has also formed an
other Antigua-based subsidiary, Elec
tronic Financial Services Caribbean
Inc., to handle the currency' process
ing side of its gaming operation.
"Just like in Las Vegas, where you
cash out at a wicket, we have separat
ed the gaming side from the currency-
processing side," Dohlen said.
"We will take hard currencies and
Y
-
-:-;_-.
"7dor3A3p
rojuioDpaj.
ndsiprjpm;
Uqisanuj 'j
&>uvo j
syrpajB .:
convert them to virtual dollars that Q John Carley, 50, Starnet's chief fi tpruMjj, 1
can be wagered.
nancial officer and currently vice- res3H
"We also feel there is an opportunity 'sjsi I
president of trust operations for the
to offer these types of services to unre %9/jq b" ;
Hong Kong Bank Trust Co., a wholly
lated companies." owned subsidiary of+he Hongkong Bapruj, i
Starnet currently has just over 20 Bank of Canada. Carley was previous "W . !
million shares outstanding. ly executive director of examinations 9?piqj.; .,'
The largest shareholder, with just and investigations for the B.C Finan JPPUB'- '
under half the outstanding shares, is cial Institutions Commission. [J#pej ;'
Murray Partners (BVI) Inc., a British Q Jason Bolduc, 22, who has served "pies
Virgin Islands company whose share a Starnet's president since April 1995. m
He was previously director of network iUdlU
Q Dohlen, 36, a certified manage
operations for Cyberstore Systems $$ip' ,;
ment accountant and MBA from Si Inc., a Vancouver-based Internet ac X9JO
mon Fraser University. He has been cess provider. Dohlen refers to him as aSis
with the company since May 1996 and ?W '
"our technical whiz."
was previously a consultant with ISG
They also own shares directly. Other
Consulting Inc. shareholders include well-known I
Q Starnet chair Mitchell White, 36, Howe Street players Randal Pow, .'
who has been with the company since David Parfitt and Steve Leahy; and w?s -
April 1995. He previously owned and Tony Ricci and Chuck Choo, who own joj ;
8b
operated a computer consulting firm, No. 5 Orange and the Marble Arch
White & Associates. Hotel.
m
w .
.".-'
Government dilemma outlined V
Continued from Dl code is being undermined.
In their memo, the deputies, John
basically the richness of species. Allen and Cassie Doyle, say the revisions
"To some, bio-diversity protection "will achieve a reasonable balance be
means total preservation. I don't believe tween economic and environmental
;
that needs to be the case." values and provide an acceptable level
Chief forester Larry Pedersen said the of risk to bio-diversity in the province."
memo is a clarification of his 1996 re They state the revisions were intro w&
port detailing the over-all impact of the duced to ensure timber-supply targets'
Forest Practices Code on timber supply. are achieved.
He also said the guidebook is only one The revisions mainly affect regions in
component of the government's strate which the emphasis on bio-diversity is
gy to preserve wildlife values. Others in low: for example, old-growth reserves
clude increasing the number of parks which can now be drawn down to one-
and protecting streamside zones from third of the original standard.
logging. Also, in mature forestwith trees 60
The cabinet note, a communications to 100 years old no reserves will be
plan dated Aug 19, puts the government required unless it can be proved they
dilemma this way: will not affect the timber supply.
"Failure to apply the bio-diversity
Old-growth reserves will not be re
guidebook properly will likely result in duced in forests where the emphasis on
unacceptable risk to bio-diversity." En bio-diversity is high.
forcing it will have "unacceptably high The Sierra Legal Defence Fund's Boyd
impacts on timber supply." said the issue boils down to the rate of
The note recommends a strategy of cut in the province.
public relations, assuring the public that "They brought in the code because we
"sustainable forestry is still the No. 1 all knew there was a problem from
goal and that environmental standards overcutlinp. So ihpvhmueht in rhp rndo }