It seems doubtful that this was, in fact, a campaign slogan. It looks more likely that the “promise” was associated with The Barn – a country music dance spot adjacent to the hotel (with its pink wall facing the camera). But it makes a good story!
Reeds seems to have bailed out of the 1970 election campaign before voting day. He ran in the previous election, however (in 1968) and captured less than 1% of the vote. The winner in 1968 and in 1970 was Tom (“Terrific”) Campbell– the golden-haired boy of Vancouver developers. I suspect Reeds would have been crooning a classic ‘hurtin’ song if he’d remained in the race.