Gamehost Inc.: Gamehost Announces the Closing of the Previously Announced Purchase of Encore Suites and Regular Monthly Dividend for December

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RED DEER, AB / ACCESSWIRE / December 17, 2018 / Gamehost Inc. ("Gamehost", the "Company") (TSX: GH)

On December 14, 2018, the Company successfully closed on the transaction for the business and property known as Encore Suites by Service Plus Inns located in Grande Prairie, Alberta from Peace Country Hospitality Inc ("Peace Country") for a price of $12.5 million. Peace Country is a company controlled by David Will, Darcy Will and Elston Noren, each of whom are officers and significant shareholders of the Company. This was a related party transaction under applicable securities law, but the transaction is exempt from the formal valuation and minority shareholder approval requirements under applicable securities law for related party transactions as both the fair market value of the property, and the business being acquired, and the fair valuation for the consideration paid are substantially less than 25% of Gamehost' market capitalization.

Gamehost has declared a cash dividend for the month of December 2018 of $0.0575 (CDN$) per common share. The dividend will be paid on January 15, 2019 to shareholders of record on December 31, 2018. The ex-dividend date is December 27, 2018.

This dividend is considered an "Eligible Dividend" and therefore, eligible for the enhanced gross-up and dividend tax credit available to shareholders.

Gamehost is a corporation established under the laws of the Province of Alberta. The Company's operations are all located in the Province of Alberta, Canada. Operations of the Company include the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites hotel and a strip mall all located in Grande Prairie. The Company has a 91% controlling interest in Deerfoot Inn & Casino Inc. who operates the Deerfoot Inn & Casino in S.E. Calgary.

Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH. For more information, visit www.gamehost.ca. Complete disclosure of the Company can be found on SEDAR at www.sedar.com.

The TSX does not accept responsibility for the adequacy or accuracy of this release.

For more information, contact:

Craig M. Thomas or;
Darcy J. Will
Toll free [phone]
[phone]
Fax [phone]
Email [e-mail]

SOURCE: Gamehost Inc.

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