The ECAC Equity Membership allows Members to invest in the Club, take the first step toward transforming ECAC into a fully member-owned facility and secure a meaningful voice in the future governance of ECAC. This initiative is designed to foster a stronger sense of community and shared ownership among members, aligning with the long-term vision of a Club built by and for its members.

The goal of the Equity Program is to allow Equity Members the option to sell their Memberships at a future date and secure a voice in ECAC’s future governance structure. 

No, we are currently gauging interest in Equity Memberships. To launch ECAC’s Equity Membership model, our goal is to secure interest for at least 500 Equity Memberships by December 31, 2025. The Equity Share will be secured by fractional ownership in the Land and Building, which is currently 100% owned by Telsec Property Corporation. Once the required interest threshold is met, we will move forward with the offering. 

To qualify for an Equity Membership, you must be an Active Member of ECAC, either through a Non-Equity Membership or Corporate Membership. Non-Equity Members can upgrade to an Equity Membership by paying the difference between their original initiation fee and the current Equity Membership Share value. Corporate Non-Equity Members can upgrade by paying the full Equity Membership fee.  

To apply for Equity Membership, a refundable $2,500 deposit per Expression of Interest is required, which demonstrates your committed interest. All deposits will be held in trust, by Warren Kachur Osadetz LLP.  

Once the minimum threshold of 500 Expressions of Interest is met, disclosure documents will be provided for review. 

The membership options and fees are as follows: 

• Individual Equity Membership (7 Shares): *$30,625 – Full membership privileges for one Primary Member. 

• Spousal Equity Membership (8 Shares): *$35,000 – Full membership privileges for one Primary Member and one Spousal Member. 

• Family Equity Membership (9 Shares): *$39,375 – Full membership privileges for one Primary Member, one Spousal Member, and their Non-Dependents and Dependents. 

*Values are subject to change without notice 

Each share is valued at $4,375.00. The number of Shares associated with each membership category varies, designed to maintain a well-balanced and inclusive membership base that aligns with the club’s vision and community dynamics. 

No, Shares are not available for individual purchase. Shares are structured as part of the membership packages to ensure a balanced membership base. 

Yes, we will offer a 12-month payment plan for Equity Memberships. The Equity payment plan will begin either when the Non-Equity Membership is fully paid or upon the official launch of the Equity offering documents, whichever comes later. 

The different Share counts are designed to balance pricing with capacity management, providing flexibility across membership categories. Each membership category is assigned a weighted value based on its expected usage and impact on the Club’s resources. This approach ensures a fair and balanced allocation of Equity while helping the Club manage capacity and long-term sustainability effectively. 

Yes, a Member or Corporate Member can purchase additional Equity Memberships. However, to support the Club’s operations, for each Equity Membership, there is a minimum dues billing of one Primary Member.

As each membership category is assigned a weighted value of Shares, the total number of Equity Memberships available will depend on the category mix of Equity Memberships purchased, allowing us to maintain flexibility within the membership base. 

With a total issued Share count of 14,000, Telsec Property Corporation will retain 51% of those Shares—equivalent to 7,140 Shares. In our initial offer, Telsec is offering up to 6,860 Shares for purchase (approximately 49% of the total Shares). To first establish the Equity Program, we must exceed a minimum threshold of 4,000 Shares sold, and depending on the Membership types selected, this would equate to approximately 500 Equity Memberships.  

The remaining Shares in Telsec’s balance will ensure continued sponsorship of the Corporate Membership program, which supports a stable membership dues base and reflects Telsec’s commitment to the long-term success and sustainability of ECAC. 

The $2,500 refundable deposit per Expression of Interest, held in trust, reflects committed interest in the Equity Membership and helps eliminate casual inquiries, allowing us to accurately gauge demand for the program. 

Yes, the $2,500 deposit is in addition to the Non-Equity initiation fee you’ve already paid.  

Yes, the refundable deposit will be applied toward the Equity Membership if you decide to proceed.

The initial Share price is based on the replacement value of the land, building, and improvements. Over time, market forces will dictate whether the value of the Equity Share will rise, fall, or remain the same.  

If the Equity program is established, the governance structure will be finalized with active input from Equity Members to ensure it reflects their priorities and interests. The Club is committed to transparency and collaboration, ensuring Equity Members play a key role in shaping the framework. 

While the final structure is not yet established, it is anticipated to align closely with governance models used by other Canadian member-owned clubs. This approach ensures a balance of member involvement and effective decision-making, providing confidence in the Club’s long-term success 

Telsec Property Corporation will remain a key partner by sponsoring the Corporate Membership Program. Depending on market conditions, Telsec may either continue its sponsorship or divest its Shares. The long-term objective is for Telsec to transition control of the Club to its Members, contingent upon the successful establishment and stability of the Equity Membership program. 

Telsec is a Calgary–based, family-owned real estate development firm that has been operating since 1976. Telsec currently owns and manages a portfolio of approximately 2,000,000 sq ft of Retail, Flex Industrial and Office space.

Telsec Property Corporation and future Equity Members will act as the Landlord, while ECAC Ltd, a company currently owned by Telsec, will serve as the Tenant operating the Club. The rent paid by ECAC Ltd will be nominal. These funds will cover certain expenses incurred by the Equity Member as it relates to Share ownership. The remaining balance will be placed in a reserve fund to support capital expenses, ensuring the long-term upkeep and sustainability of the Club’s premises and finishes. 

If the target for Equity Membership is not met, the Club will remain a Non-Equity Club. 

The 24-month window provides Non-Equity Members a clear opportunity to transition to Equity Membership. Once the Equity offering has officially launched, Members and prospective Members will have to choose to go Equity or Non-Equity. 

If a Non-Equity Member misses the 24-month upgrade window, the initiation fee they originally paid will not be credited toward the current Equity Membership value.

Yes, if the Equity Membership program is successful and all Shares are sold, a Wait List for Equity Membership will be triggered. The Club will maintain a Wait List for each category of Equity Membership (Individual, Spousal and Family) to ensure fairness and transparency as spots become available. This ensures that future applicants have the opportunity to join as Shares become available.

To upgrade to a Family or Spousal Equity Membership, you must sell your current Membership and purchase the new one.

Corporate Non-Equity Members can upgrade to an Equity Membership by paying the Equity Membership fee in full. This process allows flexibility for corporations to align their membership with their evolving needs. 

Upgrading to Equity Membership does not affect the minimum requirement of five sponsored memberships needed for the Sponsoring Corporation to remain in good standing.  

If Corporate-Sponsored Members upgrade to Equity Memberships, causing the Corporation to fall below the required minimum of five memberships, the Corporation must either replace the departed members or retain those memberships as unassigned, fulfilling the dues obligation. 

Yes, you can sell your Shares. Telsec Property Corporation retains the first right of refusal. If Telsec does not exercise the option, the Shares can be sold privately. Any sale of Shares is subject to a 20% transfer fee.

Equity Members may sell their Shares after five years of Club operations, or if 49% of the total Equity Shares have been sold, whichever occurs first.

While there are no specific restrictions on who can purchase Shares, any potential buyer must: 

• Agree to adhere to the Rules and Regulations of the Club. 

• Be prepared to pay the annual dues associated with owning an Equity Share.