The United Horseman of Alberta uploaded a note to its website on October 16 which brought members up to speed with what is going on in regard to the status of the desperately-needed racetrack in Balzac
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The contents of the upload appear below in its entirety.
Hello everyone:
We received some good news late Thursday afternoon. The court approved our CCAA extension for another month. Our next scheduled court appearance will be November 20 at 9:00 a.m.
We accomplished quite a bit in the last month including:
1) Working with the County of Rockyview towards getting our existing subdivision applications approved. The County has been very supportive.
2) Meeting with the larger creditors. By and large most have been very willing to work with us. They too want to see the race track completed.
3) Meeting with existing land purchasers. UHA has four existing land deals pending. We are working with all of these groups to finalize the sales as quickly as possible. A large portion of proceeds from these sales will go back to the creditors as debt repayment.
4) Updating the website. As you can see, keeping the website active and up to date is an important part of our renewed commitment to openness and communications.
5) Updating our land appraisal. We had our land appraisal brought up to date. The land values are holding very well.
6) Focusing on acquiring new shareholder equity. This is vital to our future. To date, we have $2 million of new equity pledged. Once we finish updating our business plan we will be in a position to re-approach the market.
7) Meeting with several realty companies. Starting to market the excess lands is a major part of our strategy going forward.
8) Searching for financing. We continue our efforts to attract debt financing to the project. We see the financial markets loosening up which is good news.
9) Meeting with the shareholder group. This also fits in with our desire to improve communications and openness.
Going forward our focus will be to continue on with the activities mentioned above and continue pushing forward.
As always your comments and support are very much appreciated.
Yours truly,
Darcy Marler, President
Another song and dance. They
Another song and dance. They should have been turfed when they couldn't get it done when they agreed too. People involved in the industry have had enough of their promises. They don't have the money, don't look like they can get the money and still keep wasting our time with these press releases. Good bye Go away don't come back.