NEWS RELEASE · 28th November 2012
My Mountain Co-op
My Mountain Co-op to proceed with purchase agreement for Shames Mountain
My Recreational Mountain Coop is pleased to announce that it can now proceed with the purchase agreement for Shames Mountain in light of a recent announcement by the Provincial government.
The Minister of Forests, Lands and Natural Resource Operations Steve Thomson announced this week measures to reduce debt owed to the Provincial government from Shames Mountain’s current owners, Shames Mountain Ski Corporation.
It also forgives the interest portion of outstanding royalties owed by Shames Mountain - $46,700. The remainder owing, about $88,000, will be assumed by My Mountain Co-op and repaid with interest over a period of 10 years.
“The resolution of these items means that My Mountain Co-op can now close the purchase agreement and proceed with the operation of the hill into the future,” says founding member, Curtis Billey.
“It also means the co-op can now apply to have the tenure transferred to it. This is a great way to kick off the 2012-13 season at Shames.”
My Mountain Co-op currently has more than 1,000 members and continues to draw support from area businesses, individuals and corporations all working together toward the sustainable operation of Shames Mountain ski area.