Updated: Deal for Midway Mill closes

The deal for the Midway Mill has gone through.

Midway Mayor Randy Kappes confirmed that the deal was struck just before 5 p.m. last Friday (Feb. 4).

“Boundary Sawmills has purchased the mill, the asset purchase has gone through and the lease with Vaagen is signed,” Kappes told the Grand Forks Gazette. “It took us a little bit longer than we hoped, to get it done – about a week past the date it was supposed to be.”

Kappes said this was due to the complication of the transaction, since everything had to be finalized at the same time.

He said that because of this, they had the lease done at the same time as well.

Kappes said that the next step is for Vaagen Bros Lumber to take a closer look at what they will need to do to the mill to get it running.

“They were saying for a while now that they were hoping to have things going by September, but it’s obviously going to take some time to get the equipment in,” Kappes said.

Kappes says the next step for Boundary Sawmills will be to go back to the public and “present them with the actual purchase of the assets and with the lease and convince them to come and take part.”

He says that they still will need to raise more funds.

“It should become a whole lot easier to get people excited about it now that we have something to show them,” he said.

Earlier on Friday, there was an extension put in place that would have seen the deadline for a deal extended to Feb. 11.

Fox Lumber, former owners of the mill, also said that it was a complicated deal, leading to a slower pace in negotiations.

“It seems like co-ordinating everything between all the different groups seems to make things take a little bit longer,” Fox Lumber Director of Operations Quintin Apedaile explained to the Gazette at the time.

“I know that even though we were only dealing with Boundary Sawmills, I know on other fronts they’re dealing with other parties to make the big picture come together,” he said, adding that was what created the longer turnaround time.

Kappes said that they will release more information this week and will also have a press conference.

Just Posted

BM&TS show ‘a tale as old as time’

The theatre group produced Beauty and the Beast.

Video: MP hears pot, pipeline and politics concerns

South Okanagan-West Kootenay MP hosts town hall forum in Penticton

Needles killer frightened many in our town: BC author

Roy Bugera disrupted life in a quiet Vancouver Island village before moving to Arrow Lakes

RCMP investigate stabbing incident

Injuries were non-life threatening, RCMP report

Health Minister says coming changes will make difference in rural communities.

“As a government, Premier Horgan is committed to improving the ambulance service.”

Ottawa proposes restricted pot labels, packages

Packaging will include red stop sign with marijuana leaf and ‘THC’

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Pro-Trump protest sign with F-word is OK, court rules

Judges say Ontario man can protest publicly, even using vulgar language

VIDEO: Police officer looking for distracted drivers gets hit by truck

Road safety investigator clipped by trailer while patrolling busy intersection

YVR wants you to help name three new puppies

Say hello to the Vancouver Airport’s new assistance pups

Suspect who attacked autistic man in Ontario could be from B.C.’s south coast: police

29-year-old man was sent to hospital with serious injuries

Privacy watchdog to explore Facebook leak

Canadian expert says his analytics company helped Trump campaign capitalize on private Facebook info

Woman struck and killed by self-driving Uber vehicle

Ride-hailing company suspends all road-testing of such vehicles in U.S. and Canada

Spring snow melt uncovers dirty needles in B.C. city

Vernon residents are upset with number of needles being found around town with spring melt

Most Read