Poydras Gaming Finance Announces New Machine Deployment and Quarterly Earnings Call

TSXV: PYD
TSXV: PYD.DB.U

VANCOUVER, May 29, 2014 /CNW/ - POYDRAS GAMING FINANCE CORP. (formerly Great Northern Gold Exploration Corporation) (TSX-V: PYD) ("Poydras Gaming" or the "Company") is pleased to announce that subsequent to the previously announced closing of the reverse take-over ("RTO") (see News Release dated May 9, 2014), the Company has deployed 38 additional slot machines in its core markets of Oklahoma and California, bringing the number of deployed machines to 312.  These slot machines are comprised of 10 installed, revenue-producing slot machines and orders for 28 new machines planned for delivery in the next 45 days.  As of the date of the Prospectuses (dated April 22, 2014 and available on www.sedar.com) the Company had 274 slot machines currently placed, along with existing contracts to allow it the opportunity to place an additional 225 slot machines in 2014 for a total number of 499 deployed and deployable machines.   

As previously announced, in conjunction with the RTO Poydras Gaming completed funding of CDN$3,345,000 in common equity and US$7,732,000 in convertible debentures.

"Having successfully closed our RTO and the related financing, we are delighted to start putting our new capital to work with both existing relationships as well as in exciting new locations," said Peter Macy, CEO of Poydras Gaming.

The Company is also pleased to announce that it will be releasing the results of the first quarter ended March 31, 2014 on May 30, 2014 after market close, and will be hosting an investor conference call on Monday, June 2, 2014 at 7:00am Pacific Time (10:00am Eastern Time). The purpose of this conference call will be to provide investors with an update of the financial results of the Company and subsequent events after completion of the RTO.  Representing Poydras Gaming on the conference call will be:

Following the update, a question and answer session will be held.  To participate, the dial-in instructions are as follows:

For additional information please see the SEDAR website at www.sedar.com.

About Poydras Gaming Finance Corp.:

Poydras Gaming is focused on leasing and financing gaming machines (such as slot machines) and related capital expenditures for existing casinos, new casino developments and gaming machine suppliers in the United States.  It owns and finances slot machines including long-term lease contracts across four casinos in Oklahoma and a financing agreement with a gaming machine supplier based out of California. The Company intends to expand its operations in Oklahoma and California as well as enter into new markets by expanding its existing operations, and acquiring additional placements of gaming machine leases, including at least two new placements in Oklahoma casinos by December 31, 2014.  The Company is also reviewing the expansion of operations into Louisiana and Mississippi in the next two years.  Additional information about the Company can be found on the SEDAR website at www.sedar.com.

Neither the 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.

Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward‐looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward‐looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD‐LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

SOURCE Poydras Gaming Finance Corp.