Gateway Casinos Income Fund Completes Offering

On September 17, 2004, certain unitholders (the selling unitholders) of Gateway Casinos Income Fund (the Fund) completed a $113 million secondary offering of 6,567,150 trust units. The Fund is one of the largest casino operators in Western Canada. The secondary offering, completed on a bought-deal basis, was through a syndicate of underwriters led by BMO Nesbitt Burns Inc., which included RBC Dominion Securities Inc., First Associates Investments Inc., Scotia Capital Inc., Sprott Securities Inc. and TD Securities Inc.

The selling unitholders and the Fund were represented by Farris with a team led by Cameron Belsher and including Lisa Skakun. Bruce Sinclair, CA, of Borden Ladner Gervais LLP provided tax counsel to the Fund.

The underwriters were represented by McCarthy T├ętrault LLP with a team comprised of Richard Balfour and Michael Urbani (securities) and Christopher Falk (tax).


Bruce R. Sinclair Cameron Belsher Christopher Falk Michael G. Urbani Jim Blatchford Lisa D. Skakun