In an interview with the Daily News, Kirk Flynn, Vice-President of Hockey Operations said the teams investors met on Monday with Dawson Creek City Council asking the City to further fund the team.
Council denied that request and the owners had to call it quits.
In January, the City of Dawson Creek announced they would provide $110,000 to help fund the team for the rest of the 2011/2012 season. In total the City had provided over $800,000 in funding to the team.
For more on this story, click here and read the Dawson Creek Daily News article.