KING
CITY, ON, May 17, 2022 /CNW/ - TWC Enterprises
Limited (TSX: TWC) ("TWC") is announcing today a transaction
involving Club de Golf Islesmere located in Laval, Quebec ("Islesmere").
Together with its partner, TWC has reached an agreement to sell
the property to a Quebec developer
for proceeds of approximately $70
million. TWC is entitled to approximately 45% of these
proceeds upon closing.
This transaction is subject to both a due diligence condition
and a condition for a change in zoning.
Closing of this transaction is not anticipated before 2023.
Corporate Profile
TWC is engaged in golf club operations under the trademark,
"ClubLink One Membership More Golf." TWC is Canada's largest owner, operator and manager
of golf clubs with 47.5 18-hole equivalent championship and 2.5
18-hole equivalent academy courses (including two managed
properties) at 36 locations in Ontario, Quebec and Florida.
SOURCE TWC Enterprises Limited