SAM Magazine--Vancouver, B.C., January 28, 2010--Intrawest and a newly formed company, Panorama Mountain Village Inc. (Panorama Inc.) announced today that they have entered into a definitive asset purchase agreement that will enable Panorama Inc. to purchase Intrawest's interests in Panorama Mountain Village. Panorama Inc. is made up of area homeowners and local business people. The transaction will include the resort's on-mountain and Nordic ski operations, a 50% ownership position in the Greywolf Golf Course, all of Intrawest's commercial operations and lodging units in the village and the land available for real estate development. The transaction is anticipated to close in February 2010, pending regulatory approvals.

This winter season it is business as usual for reservations and pass products.

This sale comes on the heels of Intrawest selling Copper to Powdr Corp., as Intrawest tries to pay down its debts. For more on that story, see our recent breaking news item from January 20, 2010.