NEWS RELEASE · 17th November 2011
My Recreational Mountain Co-operative (MMC) has confirmed the completion of the acquisition of the Shames Mountain Ski area from the previous owners and operators, Shames Mountain Ski Corporation (SMSC).
The closure of the deal 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 terms of the transaction feature a cash payment to the current owners, an expected significant restructuring of a Province of British Columbia infrastructure loan made to the SMSC to support enhancements to the ski area 20 years ago, and expected restructuring of the tenure payments in arrears with the Province of BC.
The total value of the deal is dramatically less than the original listing price for the ski area. “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 Curtis Billey, founding director and spokesperson for the Coop.
“We are appreciative of the support and cooperation of the current owners in conclusion of this agreement.” MMC 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.
Seasons passes have been on sale at pre-season rates. “MMC would like to announce the extension of our Pre-Season pass sale for the next 2 weeks until Nov 30” said Curtis Billey “Further, we are also very appreciative and proud of the many volunteers and staff that have made this happen and are very excited about a successful upcoming ski season.
To Norther Gal
Comment by James Ippel on 20th November 2011
We would all like to get receipts for the full value of the donation, but that is a pipedream
The absolute best you can do is get 75% of your donation if you donate to a political party. Donate to your Church, a charitable foundation, or starving children in Africa, you receive 3% of a percentage of your income. This is the politicians way of saying "give to us and benefit ", and screw the world.
Comment by northern gal on 18th November 2011
I too would consider a donation if I got a tax receipt for the full value of my donation.
Comment by R1chard Jenn1ss on 17th November 2011
I would love to donate to this cause if I can get a donation receipt to use towards my income tax.
Scroll near the bottom for "Qualified donee" and you will see "municipalities in Canada;"
We then can ask all large companies to contribute with their donations, I suggest to have employee / employer matching and do a days wage. A thousand people at a 100 dollar days wage matched in a challenge with Rupert and Kitimat...