Dinosaur Trail Golf and Country Club has scheduled an Extra Special Shareholders Meeting to entertain another offer to purchase the course.
This comes after a previous attempt to sell the course to a Vancouver based investor fell through last year.
Golf Club president Mike Yavis said there is a possibility of three different resolutions to be passed, the first would be an offer to purchase.
“If this deal is to the point that it is unconditional and can be ratified, the shareholders can ratify it. If that happens, there will still be a second question called which will allow the board, at their discretion, to wrap up the corporation at the close of the sale,” Yavis told the Mail. “If the offer falls through or cannot be done, the third question they will ask, is at the discretion of the board to declare bankruptcy.”
“We are flat out of money, and the longer we wait the less time the bank will have to find another suitor.”
He said the offer is coming from local interests.
The meeting is on Tuesday, January 28 at the Dinosaur Trail clubhouse house at 7 p.m.
“We have an offer, and possibly a second offer by the 28th,” said Yavis.
