Shames deal finalized

The non-profit group working toward buying the Shames Mountain ski facility says the sales deal has been finalized.

  • Nov. 17, 2011 11:00 a.m.

The non-profit group working toward buying the Shames Mountain ski facility says the sales deal has been finalized.

The closure of the deal between My Recreational Mountain Co-op and the Shames Mountain Ski Corporation “represents another important step forward for the recently formed MMC in the efforts across the northwest to ensure the future of the ski area,” the co-op said in a press release this morning.

Terms of the agreement were not immediately released but it does involve a cash payment. The release says the price tag is “dramatically less than the original [$2 million] listing price for the ski area.”

Still to be resolved between the Shames Mountain Ski Corporation is a long-outstanding tourism loan between it and the provincial government and unpaid royalties owed the province for the use of the mountain in prior years.

“We believe the terms of the purchase of the assets of the ski area from the SMSC reflect a fair value and ensure that the MMC is not burdened by unmanageable debt in our efforts to ensure the sustainability of the ski area for the future,” said co-op director Curtis Billey.

“We are appreciative of the support and cooperation of the current owners in conclusion of this agreement.”

The co-op said it has made significant progress over the past few months in mobilizing resources for the 2011/12 ski season including the hiring of staff, opening of the downtown office, and commencing pre-season lift maintenance in preparation for a planned December opening.

 

 

Just Posted

Terrace Minor Softball closes season with wins

Teams with be competing in nationals in Saskatoon

Bicyclist crashes into car

Police briefs July 12-14

Malicious Monster Truck Tour returns to Northwest

Crowds gathered at the airport for show

Terrace SAR rescues shopping carts in Skeena River

Many have yet to be retrieved due to high water level

Joaquin ‘El Chapo’ Guzman sentenced to life in prison

Experts say he will likely wind up at the federal government’s Supermax prison in Florence, Colorado

Olympic softball qualifier gets $150K boost from provincial government

2019 Americas Qualifier to be held in Surrey from Aug. 25-Sept. 1

Gas price inquiry questions Trans Mountain capacity, company denies collusion

The first of up to four days of oral hearings in the inquiry continue in Vancouver

‘Benzos’ and fentanyl a deadly cocktail causing a growing concern on B.C. streets

Overdoses caused by benzodiazepines can’t be reversed with opioid-overdose antidote naloxone

Will you be celebrating national hotdog day with any of these crazy flavours?

The popularity of hotdogs spans generations, cultures

Former home of accused Penticton shooter vandalized

Ex-wife of man who is accused of murdering four people had her house vandalized

Survivor of near-drowning in B.C. lake viewing life through new eyes

“If I died that day, the baby wouldn’t know his dad,” said 31-year-old Mariano Santander-Melo.

‘Beyond the call’: Teen in police custody gets birthday surprise by B.C. Mountie

Unusual celebration started when Staff Sgt. Paul Vadik went to visit the teen in his Coquitlam cell

Thunderstorms forecast across B.C.

Environment Canada has issued a thunderstorm watch for B.C.’s central Interior

Most Read