Pathfinder Ventures (TSX-V:RV) Inc told investors it has closed the acquisition, first announced on December 14, 2021, of the 1.892-acre property adjacent to its existing Pathfinder Camp Resort location in Agassiz, British Columbia.
The company noted that the Pathfinder Camp Resorts location in Agassiz is fully operational with 32 full hookup recreational vehicle (RV) sites and eight fully-furnished cabins. The property was acquired in 2020 and underwent major renovations and improvements before opening under the Pathfinder Camp Resorts brand in May 2021.
"This property offers significant growth potential for our newly renovated Pathfinder Camp Resort in Agassiz BC,” founder and CEO Joe Bleackley said in a statement. “We have the staffing and amenities in place, so we will plan to develop most of the 1.892 acres into additional RV campsites offering full hook-up connections for our customers.”
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Pathfinder Ventures (TSX-V:RV) said the acquisition may provide the Pathfinder Camp Resort location in Agassiz with up to 25 new, full hookup RV sites. Once land-use applications are approved and rezoning is complete, it said it will begin its redevelopment of the property, with construction estimated to begin in Fall 2022 and the project to be completed later in 2023.
It noted that the purchase of the property is with an arms-length party to acquire a 100% interest for an aggregate purchase price of $750,000 in cash, excluding closing costs.
Pathfinder Ventures is developing a network of premier branded, upscale, and family-friendly RV parks and campgrounds under the 'Pathfinder Camp Resorts' name.
It currently has three camp resorts located in BC and is focused on growing its network through both acquisitions and new construction.
Contact the author at stephen.gunnion@proactiveinvestors.com