Press Release: Proprietary Energy Industries Inc.
July 11, 2000
CALGARY, AB -- Management of Proprietary Industries Inc. (``Proprietary'') hereby announce that they have completed
the acquisition of the Kananaskis Inn and have taken over operations effective July 1, 2000.
The total purchase consideration of $9.4 million was made up of $5.1 million in cash and $4.3 million of debt assumption.
Plans are being prepared for a renovation and refurbishment to commence this fall after the conclusion of the peak
season. The addition of this property is another step in Proprietary's consolidation of its interests in the Kananaskis
Village and further details will be forthcoming in future press releases.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
For further information
Mr. Peter J. Workum, Mr. Theodor Hennig, or Mr. Andrew Mackenzie at (403) 266-6364, Website: www.proprietary-energy.com,
E-mail: info@proprietary-energy.com