DGAP-Ad hoc: Cariboo Gold Mines Plc

Holmes Investment Properties PLC
receive multi-million-pound investment offer

Holmes Investment Properties PLC, the leisure and adventure park developer are pleased to announce that they have received an offer to fund the first wave of the adventure parks designed by Mr David Lloyd. An Investment House has offered 80% of funding to facilitate the purchase of land, build the park, and fit out and equip each venue.

The Investor has committed to invest alongside Holmes, 80% of the costs of the purchasing the land, constructing the building and developing the park, as well as fitting out the target properties. The investment will be through a mixture of subscription for new ordinary shares and new loan notes in the investment vehicle. The investment will require the formation of a new Special Purpose Vehicle or SPV, which holds both the adventure park and the operating business. After three and a half years, the structure will unroll to leave HIP as the 100% owner of each site with Mr David Lloyd's company as the tenant.

The terms of the funding are now agreed and a preliminary agreement, which has been received by HIP, is expected to be signed shortly. The funding will cover the purchase of the land and development of the park but also the purchase and installation of equipment, marketing and launch costs. The funder will be represented on the board of the SPV.

Holmes Investment Properties, along with partners, David Lloyd Adventure Parks Limited will use a mix of debt and equity to finance the other 20% of the capital required to build and equip each adventure park and it is anticipated that shareholders will be updated on this very shortly.

Each adventure park will be incorporated in a special purchase vehicle, owned in a joint venture between by Holmes Investment Properties PLC and David Lloyd's Adventure Parks Ltd. The Investment House will charge a standard interest rate on the development and take 15% share of the net profits over the first three years, or until the debt is refinanced and paid off.
Every adventure park from Mr Lloyd will have space for internal and external activities from trampolines, soft play for under 5s, track gliders, zip wires and fun outdoors activities like crazy golf as well as bringing exciting new activities to the market. In addition, the new adventure parks will typically include relaxing picnic areas with BBQ pits for a great summer outdoors experience.

Holmes Investment Properties CEO, Martin Helme said: "We have a commitment from this Investment House to make this deal work. Although bound by confidentiality at the moment we look forward to being able to release the name of this London based investor who has a good track record. Assuming this transaction closes, the company will have secured much of the funding required well ahead of the schedule we set for ourselves."

Contact:

Martin Helme, Chief Executive Officer
+44 (0)7779 601541 or +44 (0)203 709 7120
Martin@hip-prop.co.uk

Murray Harkin, The Lyndon Agency
+44 (0)77852 54639
Murray@thelyndonagency.com