The Squamish Valley Music Festival, due to take place in August, has been cancelled this year, organizers announced this morning.

"We have made the extremely difficult decision not to proceed with the 2016 festival," the festival website states.

"We sincerely apologize to all the people this decision affects: the fans, artists, industry partners, corporate partners, suppliers and all of our supporters within the community of Squamish."

Though organizers have made no further comment beyond the brief online statements, the festival's Twitter and Instagram accounts have been deleted, suggesting the cancellation is permanent.

Last year, 115,000 people attended the festival, which saw performances from Drake, Mumford and Sons, Sam Smith, Mother Mother, Joel Plaskett, and many others.

Ryan Guldemond, lead singer and guitarist of Vancouver band Mother Mother, on stage at the Squamish Valley Music Festival. (BRANDLIVE)

'Extremely disappointed'

In a statement, Squamish Mayor Patricia Heintzman said the district is "extremely disappointed" with the decision, and that the festival has had a positive impact on the mountain community.

"Squamish Fest has helped our town transition to a place that has been recognized on 'best of' lists in A-list publications. It has become part of the tapestry of our town," she wrote.

The Squamish Chamber of Commerce learned about the cancellation by email Wednesday morning.

More than 115,000 attended the Squamish Valley Music Festival last year. (floshe24/Flickr)

Local businesses had benefited from the influx of more than 100,000 festival-goers, with some extending their hours and getting free promotion on a festival app.

"The Squamish Music Festival was something that really united our local businesses and community together," said Suzanne McCrimmon.

The festival was organized by Brand Live, a Vancouver production company, and launched in 2010.

Organizers haven't said why the event is cancelled or responded to an interview request from CBC News.