Twelfth Offer – Successful Close
Nova Scotian food producers are integral to the health of people and the economy. FarmWorks opened a Twelfth Offer to raise funds to provide more support for food providers across the Province. The twelfth offer raised $574,900 for an overall total of $5,209,300 and only 6.6% of investments have been redeemed over eleven years, primarily by people collapsing RRSPs. As principle and interest are repaid those funds are available and to date over $8,538,000 has been loaned to over 150 food-related businesses across Nova Scotia. If you have questions please contact FarmWorks at firstname.lastname@example.org, phone 902-542-3442, cell 902-670-3660.
Investing in NS Producers – Information and Documents
For more information please contact: Linda Best, FarmWorks Investment Co-operative Limited. Phone: 902-542-3442 Cell: 902-670-3660 email@example.com
Information about Shares and Investing
The Shares being offered:
The price per share is $100 and the minimum share purchase under this Offering is: 1 share for $100.00.
The minimum number of Shares offered is 500 and the total proceeds if minimum sold is $50,000. The maximum number of Shares offered is 10,000 and the total proceeds if maximum sold is $1,000,000.
The offering price was established arbitrarily by the Issuer.
The Issuer will distribute securities until March 1, 2023.
Shares are fully paid, newly issued voting common shares that are non-retractable, non-redeemable for 5 years, non-convertible and not restricted in profit sharing or participation upon dissolution.
Investments may be eligible for a 35% Nova Scotia non-refundable Equity Tax Credit (may be carried forwards 7 years and backward 3 years) and for RRSP tax deferral. Existing RRSPs transferred to Canadian Workers Cooperative Federation (CWCF) which invests these funds in FarmWorks, may be eligible for Provincial Tax Credits, and new RRSPs placed with CWCF may be eligible for both Provincial and Federal Tax Credits.
Investments are eligible for further Equity Tax Credits of 20% and 10% at the 5 and 10 year investment anniversaries, respectively, if the CEDIF meets certain conditions.
Community Economic Development Investment Funds (CEDIFs) raise capital in Nova Scotia for qualifying enterprises. FarmWorks CEDIF lends capital to food-related businesses that create jobs on farms and throughout the food system, stimulate the economy, increase food sufficiency and provide benefits for all Nova Scotians. Loans are repaid and the capital is loaned to new applicants.
FarmWorks Twelfth Share Offer has received a Certificate of Registration under the Nova Scotia Equity Tax Credit Legislation and non-objection by the Nova Scotia Securities Commission, enabling investors who meet the criteria set out in the Legislation to purchase shares in FarmWorks CEDIF and receive a personal 35% non-refundable Nova Scotia Equity Tax Credit. Investors may be eligible for further Tax Credits of 20% and 10% at the 5 and 10-year investment anniversaries if the CEDIF meets Nova Scotia Securities Commission conditions.
During February FarmWorks will be hosting Information Sessions that include opportunities to hear from Clients across the Province.
This Offer of shares (each $100) will be open until March 1st, 2023 and shares are eligible for Provincial tax credits for the 2022 tax year. Investments may be eligible for RRSP tax deferral when invested in FarmWorks through the Canadian Workers Cooperative Federation.
The Directors of FarmWorks and Advisors contribute knowledge of agriculture and food production, economic development, education, health, and business finance and funding to the Board and to Clients.
For more information about the offer and this press release contact: Linda Best, 70 Eden Row, Greenwich, NS, B4P 2R2, Phone: 902-542-3442 or 902-670-3660, firstname.lastname@example.org
THIS CEDIF OFFERING MAY BE A HIGH-RISK INVESTMENT. THIS OFFERING IS MADE THROUGH AN OFFERING DOCUMENT, WHICH CAN BE OBTAINED FROM AN AUTHORIZED SALES AGENT, Linda Best, 902-542-3442, email@example.com. THIS OFFERING CONSTITUTES AN EXEMPT OFFERING OF THESE SECURITIES ONLY IN NOVA SCOTIA BY AUTHORIZED SALES AGENTS. INVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION. This press release has been authorized by Johanna Kwakernaak, Chair and Linda Best, Managing Director of FarmWorks Investment Co-operative Limited.