The CEO of United Horsemen of Alberta (UHA), Max Gibb, today advised that UHA is in serious financial discussions with two major debt providers as well as equity
participants.
Although Gibb wishes that the terms were finalized at this time, he does anticipate a final conclusion with these players in the near future.
A number of Alberta businessmen and horsemen have also been proactive in discussing and negotiating equity participation. These individuals want to help get this racetrack up and running. "There is a much more positive 'let's get it done' attitude," Gibb reported.
It is UHA's intent to continue to get all the necessary money in place before proceeding and completing the project. Upon finalization of the funding it wil take ten to twelve months to complete the racing entertainment centre and racetrack. "It will be finished when the money is in place," said Gibb.
UHA land value keeps the project whole in these challenging economic times.
The road system and infrastructure continues to be built and CrossIron Mills, the phenomenal mall, is set to open August 19. "This will be an amazing project. We had our money and we were set to go in late 2007 subject to water, and the economy crashed, but we will persevere."
(UHA)