TREI Announce Termination of Option to Purchase Norgoma – No Plans to Relocate Norgoma to Tobermory

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TOBERMORY REAL ESTATE
INVESTORS INC. Media Release

Tobermory, Ontario, November 12, 2020 – Tobermory Real Estate Investors Inc. (TREI) has concluded their study of the feasibility of locating Norgoma within Little Tub Harbour and has determined that it cannot be done without significant and unacceptable disruption to the existing dockage arrangements, or in a manner which would enable acceptable access and parking for visitors to the vessel. TREI expressed regret that they were unable to develop a workable plan.

TREI has advised the City of Sault Ste. Marie and the Municipality of Northern Bruce Peninsula accordingly.

“We want to thank Ryan Deska and Peggy Van Mierlo-West of the Municipality of Northern Bruce Peninsula for their cooperation while we reviewed this proposal. We also want to thank the mayor, council and staff at the City of Sault Ste. Marie for their willingness to give us some time to see if a solution can be found to create a future for Norgoma.” stated Mike Goman, spokesman for TREI.

Tobermory Real Estate Investors Inc. is an investment entity owned by R. Michael Goman and Dr. George D. Harpur. The owners of TREI have owned and operated businesses for more than 40 years including The Sweet Shop and The Coffee Shop in Tobermory.