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Nevada Bob’s Golf Inc and Birdie Holdings Ltd, a London based golf, media advertising and internet company, and the Company’s largest shareholder, Duncan Holdings, have entered into agreements which provide for the following:

  • The infusion of cash in the amount of US$5,000,000 into Nevada Bob’s Golf by Birdie Holdings in exchange for debentures convertible into Nevada Bob’s Golf common stock,
  • The infusion of cash in the amount of US$5,000,000 into Nevada Bob’s Golf by the Company’s largest shareholder, Duncan Holdings, in exchange for debentures convertible into Nevada Bob’s Golf common stock,
  • The conversion by Nevada Bob’s Golf’s largest shareholder of debt in the amount US$16,630,000 through the issuance of additional shares of Nevada Bob’s Golf common stock and other consideration, and
  • The acquisition by Nevada Bob’s Golf of Birdie Holdings through the issuance of Nevada Bob’s Golf common shares in exchange for all the common shares of Birdie Holdings.

    Under terms of the Birdie acquisition agreement, the current shareholders of Birdie Holdings will have a significant ownership interest in the combined entity. The closing of each of the transactions is subject to certain precedent including shareholder, Toronto Stock Exchange, and regulatory approvals.

    Upon completion of the transactions, Nevada Bob’s Golf will concentrate its efforts on the sales of new franchises in North America, Asia and throughout the world.

    Nevada Bob’s Golf’s corporate offices are located in Calgary, Alberta, Canada. The Company’s stock trades under the symbol ‘NBC’ on the Toronto Stock Exchange.

    For more information contact:

    Lyle P. Edwards
    President and Chief Executive Officer
    Tel 00 1 403 294 0600
    Fax 00 1 403 269 1715
    E-mail ledwards@nevadabobs.ca

    Martin Bunting
    Chief Operating Officer
    Tel 00 1 403 217 2342
    Fax 00 1 403 686 1558
    E-mail mbunting@nevadabobs.ca

    Larry E. Clausen
    Communication Incorporated/Shandwick International
    Tel 00 1 403 266 200
    Tel 00 1 877 332 6092
    Fax 00 1 403 266 2295
    E-mail leclausen@shandwick.ca