My Mountain Coop announced this morning the successful purchase of Shames Mountain from the previous owners.
The terms of the purchase include a cash payment to the current owners, the expectation of a significant restructuring of the infrastructure loan from the province 20 years ago and the expectation of restructured tenure payments that are in arrears to the province. While the total value of the deal wasn't immediately disclosed, My Mountain Coop notes it is "dramatically less than the original listing price for the ski area".
With the deal completed, staff hired and an office open in downtown Terrace, My Mountain Coop will also be extending the pre-season pass sale for the upcoming season for two more weeks until November 30.
Look for more on this story in the November 23 issue of the Prince Rupert Northern View.