Alpha Peak Leisure Inc.
TSX VENTURE : AAP.P

Alpha Peak Leisure Inc.

December 23, 2014 13:17 ET

Alpha Peak Leisure Inc. Announces Temporary Suspension of Operation of Swallows' Gully by Gonga Terraferma Limited for Upgrade and Improvement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 23, 2014) - Alpha Peak Leisure Inc. (TSX VENTURE:AAP.P) (the "Company") announces today that Gonga Terraferma Limited ("GTL"), an indirectly wholly owned subsidiary of 1016772 B.C. Ltd., has temporarily suspended operation of Swallows' Gully until March 15, 2015 for upgrade and improvement work. Further to the Company's press release dated December 3, 2014, 1016772 B.C. Ltd. and the Company are parties to an amalgamation agreement dated November 28, 2014 with respect to the Company's proposed "qualifying transaction".

Working in conjunction with the Hailuo Valley Administration to improve the appeal of Swallows' Gully, GTL recently received a request from Hailuo Valley Administration to construct an Archway to Swallows' Gully along the entrance of the scenic area. Construction of the Archway will block off the main road and limit access to the scenic area. With safety of the potential visitors in mind, GTL has restricted tourist access to Swallows' Gully effective December 1, 2014. While the park is closed to the public, GTL also plans to take the opportunity to upgrade and improve the current facilities and attractions within the Subject Site, including Heaven's Elixir, Red Rocks Beach, and set up a new attraction called Jade Pool Paradise (temporary name). Swallows' Gully will re-open to the public on March 15, 2015.

ON BEHALF OF THE BOARD OF DIRECTORS OF ALPHA PEAK LEISURE INC.

Dennis Chi-Wai Tam, Chairman, Chief Executive Officer and Director

Forward-Looking Statements:

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding: (i) the proposed transaction with 1016772 B.C. Ltd.; and (ii) the development at Swallows' Gully, including scope and estimated time for completion. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the Company's ability to complete the proposed transaction, GTL's ability to re-open the Swallows' Gully scenic area according to the schedule as planned and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's page on SEDAR at www.sedar.com. The reader is also referred to the Company's Information Circular for a more complete discussion of such risk factors and their potential effects, a copy of which may be accessed through the Company's page on SEDAR at www.sedar.com upon filing of the Information Circular.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alpha Peak Leisure Inc.
    Dennis Chi-Wai Tam
    Chairman, Chief Executive Officer and Director
    (852) 9212-1666
    dennis.tam@alphapeak.ca

    Alpha Peak Leisure Inc.
    Samuel Yuen-Wai Tsang
    Vice Chairman, President and Director
    (852) 9861-3293
    samuel.tsang@alphapeak.ca

    Alpha Peak Leisure Inc.
    (Thurman) Tat Hong So
    Chief Financial Officer, Corporate Secretary and Director
    (604) 488-5219
    thurman.so@alphapeak.ca