Peak Resorts Announces New Line of Credit and Refinance of Certain Existing Credit Facilities

Peak Resorts Announces New Line of Credit and Refinance of Certain Existing
Credit Facilities

 New $10 Million Line of Credit to Provide Increased Operational Flexibility
                     Acquisition Line of Credit Renewed 
                   Total Debt Outstanding Remains Unchanged

WILDWOOD, Mo., Aug. 30, 2017 (GLOBE NEWSWIRE) -- Peak Resorts,
Inc. (NASDAQ:SKIS), a leading owner and operator of high-quality, individually
branded ski resorts in the U.S., today announced a series of refinancing
transactions with Royal Banks of Missouri that will enhance liquidity and
improve financial flexibility.

The transactions include entering into a new $10 million revolving line of
credit to be used for working capital purposes, and a renewal of the company’s
$15 million acquisition line of credit.  The company intends to roll the $9.71
million currently outstanding under the existing $10 million three-year term
loan with Royal Banks of Missouri, which was scheduled to mature in January of
2020, and $2.75 million of additional working capital borrowings under the
previous line of credit into the renewed acquisition line.

With the additional $12.25 million in borrowing capacity and the approximate
$26-$27 million in cash and cash equivalents on the company’s balance sheet as
of the end of its fiscal 2018 first quarter ended July 31, 2017, Peak has more
than $38 million in liquidity. The company’s total level of debt outstanding
remains unchanged, and all loan covenants remain the same.

Timothy D. Boyd, president and chief executive officer, commented, “I’m
pleased to announce these transactions, which reflect our commitment to
strengthening and simplifying our capital structure. Importantly, the
increased liquidity will provide us with improved operating and financial
flexibility to support our continued growth initiatives and enhance
shareholder value.” 

About Peak Resorts
Headquartered in Missouri, Peak Resorts is a leading owner and operator of
high-quality, individually branded ski resorts in the U.S. The company
operates 14 ski resorts primarily located in the Northeast and Midwest, 13 of
which are company owned.

The majority of the resorts are located within 100 miles of major metropolitan
markets, including New York City, Boston, Philadelphia, Cleveland and St.
Louis, enabling day and overnight drive accessibility. The resorts under the
company's umbrella offer a breadth of activities, services and amenities,
including skiing, snowboarding, terrain parks, tubing, dining, lodging,
equipment rentals and sales, ski and snowboard instruction and mountain biking
and other summer activities. To learn more, visit the company’s website
at, or follow Peak Resorts on Facebook
( for resort updates.

Forward Looking Statements
This news release contains forward-looking statements regarding the future
outlook and performance of Peak Resorts, Inc., within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are subject
to a variety of risks and uncertainties that could cause actual results to
differ materially from current expectations. These risks and uncertainties are
discussed under the caption “Risk Factors” in the company’s Annual Report on
Form 10-K for the year ended April 30, 2017, filed with the Securities and
Exchange Commission (the “SEC”), and as updated from time to time in the
company’s filings with the SEC.  Peak Resorts undertakes no obligation to
release publicly the result of any revisions to these forward-looking
statements that may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

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