Shareholders of the Dinosaur Trail Golf Club passed a motion Tuesday evening. January 28, to accept an offer from a private Alberta company, to purchase the assets of the club.
The golf club has experienced financial difficulties over the past number of years and current lender, ATB Financial, has called the club’s operating loan along with the outstanding line of credit the club has at present.
The group making the offer will pay $1.25 million by a Friday, January 31 noon deadline, and if not accepted, the club will proceed into consented receivership if conditions of the sale are not met.
According to club president Mike Yavis, there were at one time a number of other interested parties in buying the course, but for a number of reasons, no other offer was presented at the meeting.
More information will appear on this site in the next number of days.
