day, April6, 1988

- Shames Mountain Development Corporation presid ‘told the Terrace and District Chamber of Commerc ~ alpine resort west of Terrace could be the earliest op

the province — if all the pieces fall together for its tInancing.

ent Dennis Lissimore

e last week that the ening skiing area in

: About 150 women were wined

~ and dined in style at the ninth

annual Terrace Centennial Lions Diamond Dinner held at the Inn of the West recently.

According to Centennial.

Lions spokesman Ray, Trem- blay, all the women were pleased with the event where they were served ‘‘the best meal ever’’.

He said that it was a very special evening for. everyone, particularly the 94 who shared the many prizes donated by local merchants. -

The two big winners of the evening were Anna Leveque, with a $700, three-stoned dia- mond tring donated by Erwin’s Jewelers, and Mary Darvoudis who won the trip for two to San Francisco donated by Canadian Airlines International. ;

Other major winners of the evening included Barbie Holland

_ Shames progress awaits

governmen

TERRACE — Dozens of mem-

‘bers of the local Chamber of

Commerce attended the organi- zation’s monthly luncheon

~~ meeting last week to receive an update on the condition of the

‘financially-troubled Shames

_. Mountain Development Corpor- ation. And Shames shareholder

Gerry Martin and company president Dennis Lissimore gave

them a moderately encouraging ~ teport.

. Martin told the group there has been ‘‘a. fair amount of “misconception”? regarding the

“resort venture and briefly sum-_

~ marized its history to date.’

- : The Shames Mountain ‘site ~ west of Terrace was identified as ~ the best ski development area in » the region after it became ap- -..parent that the Kitimat-Stikine

Regional District’s enterprise on

+ Kitsumkalum Mountain was - doomed due to lack of snow. - “The initial group (that set out to develop Shames) was a bit

naive from a business point of

view’? Martin observed. “Due

to that, .and other circum- stances, they became bankrupt. Several of us were interested in

the development, but not as the ~ company was structured at that

time.’’ ; The corporation was restruc-

tured, with the cooperation of

"the people initially involved, and the company’s creditors became

- shareholders, with $350,000 of

debt rolled into share capital. Martin said the restructuring is

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not complete yet and the number” of shareholders within the com- pany is an issue remaining to be resolved,

The company is still depend- ent on the favorable outcome of three factors, he said: a low- interest loan from the joint federal-provincial Tourism De- velopment Agency, establish- ment of a Venture Capital Corp- oration, and ‘negotiations with Repap Ltd. and the Ministry of Forests to cost-share on road construction. : :

The Tourism Development Agency decision is expected ear- Victoria indicate that we’re g0- ing to get it,’” Martin said.

The road construction will be the biggest single capital cost in the development at about $1

million, Martin said it is hoped —

that Repap, who have expressed an interest in the timber on the site, will reach an arrangement with the Ministry of Forests enabling them to write off a por- tion of their stumpage fees against the cost of building the road.

‘All the parts are out there floating around,”? Martin told the Chamber ‘“‘and I wish. I could tell you we’ve put them all together, Procrastination by the beaurocrats has thrown our timetable off, but if everything goes there’ll be skiing there in November.

“It’s a very clean industry, and it’s going to circulate a lot

Mar. 28 to April 9

SANDY & SHARON

Dance to the Music of WAYNE MILLER &

ROCKY TOP every Sunday Night!

t decisions

of money through this commun-

ity, It?s a positive thing for all of

us. What we want now is your enthusiasm, money.”

Martin explained that even after the government loan, Ven- ture Capital Corporation. and road-building arrangements have been cleared the company will still require an additional $300-500,000 in capital.

Shames Mountain president Dennis Lissimore noted that on April 2 of last year there was nine feet of snow in the base

cpected ear- . area, and he added that his, “ly next week.” ‘All signs from . no ¥ .

_ continued on page 24

eine

and later -your .

who won $690 worth of carpet donated by the Terrace Carpet Centre, Jeannette Anderson who won a $400, 24-inch Italian rope chain necklace donated by McAlpine and Co., and Denis Gower with a $255, 16-inch cultured pearl necklace com- pliments of .Porter and Hep- burn.

Shirley Marleau won a $190 talking Cabbage Patch Kid from Field’s Stores, Glenda May won a 10-karat diamond. pendant donated by the Medical Clinic and Terrace Precut valued. at $172, and Deb Kopec received $169 Serengeti sunglasses from Benson Optical.

Nora Gwilt won a $166, 10-karat pearl and diamond studded necklace donated by Wildwood Construction, Susan Turner received a $160 pair of earrings donated by Dr. Joe Zucchiatti, and Ellen Arndt won two nights accommodation for

- two at the Century Plaza Hotel

in Vancouver valued at $150,-

compliments of First Choice Travel. —

Sasika Vanbeynum won eight crystal glasses valued at $150 from Central Flowers and Gifts, Ida McCann won a $115 heart- shaped pendant from the Emer- son Medical Clinic, Lorna Brown a $100 Jacque Farel watch from Ev’s Men’s Wear, and Pat McGinlay won $100 worth of electrolysis work from C.J. Electrolysis.

Tremblay said the Centennial Lions’ future plans include a Fall Fashion Show currently be- ing organized with the coopera- tion of the Terrace Co-op. He said the event will be held in the Arena Banquet Room, is to in- clude wine and cheese, and is designed for both the ladies and

TEDRACE DINING GUIDE |

men, ...

Beyond that, Tremblay: said, plans are already being discussed for the 10th. Annual Diamond Dinner. oe 7

we NS

Riverboat Days group to meet | this month

TERRACE — Plans for this year’s Riverboat Days will start to be laid April 25 at the initial meeting of the Riverboat Days Society. The meeting will take place at Branch 13 of the. Royal Canadian Legion at 7:30 p.m.

Committee reps report that the agenda will include election of officers, establishment of a preliminary schedule of events and payment of 1988 dues for participants in 1988 events.

_ The society will also be discussing: the length of River- boat: Days, which up to this point. has traditionally been 10 days with most events scheduled during the last two weekends in July. Consideration will be given to a more intensive five-day schedule,

Further information can be obtained by contacting Joan Cox at 635-5633, Daisy McAl- pine at 638-0429, or Gail Holtom at 635-5600.

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