MY Recreational Mountain Coop says it can now go ahead and purchase the Shames Mountain Ski facility from current owners, the Shames Mountain Ski Corporation.
A debt forgiveness program approved by the provincial government by the ski corporation and a deal to have the co-op pay outstanding royalties over 10 years clears the way for the purchase to proceed, co-op founding member Curtis Billey said today.
“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,” said Billey.
“It also means the co-op can now apply to have the [land] 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 .
The co-op operated Shames last year under a lease deal with the ski corporation pending a resolution of the outstanding debt and royalties.