Opening of a 51st restaurant in 2011 - La Cage aux Sports Sets Foot in
Val-d'Or
MONTREAL, Oct 8 /CNW Telbec/ - On Wednesday, October 6th, Jean Bédard, President and Chief Executive Officer of Sportscene Group Inc. (SPS.A / TSX Venture Exchange), proudly announced the introduction of the La Cage aux Sports banner in Val-d'Or. The event was held in the presence of the chain's sportsperson, hockey player Steve Bégin, local partners Dave and Jacques Tremblay, as well as Paul Coutu, who is also associated with the Rouyn-Noranda La Cage aux Sports.
In 2011, the 51st outlet of Quebec's most popular chain of sports resto-bars will be set up on the vacant lot at 1764 3rd Avenue. A pioneer in sports-themed foodservices, La Cage is coming to Val-d'Or with every intention of creating the same fun that prevails in the other 50 outlets in the province!
"We are proud to set up an outlet in Val-d'Or, a region with strong economic activity. I am confident that the partners in place will be able to convey the sports-gang-fun ambience showcased by our restaurants to the town's 40,000 residents," indicated Jean Bédard.
The restaurant will be operated by a young team of dynamic managers who are respected and well known in the community. "Val-d'Or residents will soon have the opportunity to share the unmatched Cage aux Sports experience with their families or among friends. We have been working on this project for several months already, and I look forward to welcoming the first customers next year," said Dave Tremblay.
Setting up a La Cage aux Sports restaurant in the centre of this large Abitibi-Témiscamingue town represents a significant investment and will create jobs in the region. With its terrace, this modern, state-of-the-art construction will welcome about 300 visitors and will house cutting-edge technology (plasma screens, giant high-definition screen and powerful sound system).
Granting of 10,000 New Stock Options
Under Sportscene Group's current Class A stock option plan (the "Plan"), the Board of Directors has approved on October 7, 2010, the granting of 10,000 Class A stock options to one of the Company's Senior Officer, at an exercise price of $11.50 per share, under the terms and conditions provided for in the Plan. These options can be acquired at a rate of 50% after three years, 25% after four years and the 25% remainder after five years. They will expire if they are not exercised within 10 years as of the grant date.
Company Profile
In business since 1984, Sportscene Group Inc. operates Quebec's leading chain of sports-themed resto-bars: La Cage aux Sports. As of October 7, 2010, the chain comprised 49 "Cages" (50 from October 22, 2010), 34 of which are wholly or jointly owned by the Company, and 15 are franchises. Enjoying a strong brand image, La Cage aux Sports serves some seven million guests each year. La Cage aux Sports' most distinctive feature is its "Sports, Gang, Fun" culture, showcased by an original decor, a festive ambience, the use of the latest telecommunications technologies including the broadcasting of sporting events on high-definition giant screens, and the scheduling of a host of contests and special events for customers. In support of its network expansion strategy and dynamic promotion of the La Cage aux Sports trademark, Sportscene also provides on-site catering services at sporting and popular events. In addition, the Company manages real estate holdings, including a sports centre and several buildings housing La Cage aux Sports restaurants. Lastly, Sportscene has developed expertise in certain other complementary activities, such as the construction, fitting-out and renovation of Cages, technological development related to the expansion of the La Cage aux Sport network, as well as the organization of sports-related activities such as world class boxing events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Source: | Sportscene Group Inc. |
Contact: | Jean Bédard, Chairman of the Board, President and Chief Executive Officer Josée Pépin, Manager, Accounting and Disclosure (450) 641-3011 David Messier,Manager Communication and Marketing (450) 645-1074 / (514) 347-0134 |
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