FIFTH OFFER OPEN TO JUNE 10, 2016

Investing in FarmWorks – Fifth Offer Extended

FarmWorks has received an extension in order to raise more money to invest in food related businesses. In the Fifth Offer to date $361,400 has been raised to add to the previous $1,033,400 for a total of $1,394,800.

Community Economic Development Investment Funds (CEDIFs) are currently the best mechanism available for efficiently and effectively leveraging local capital to help build a sustainable agricultural economy that will rebuild rural communities and contribute to all aspect of life in the Province.

Blind pool CEDIFs place capital into a portfolio of qualified businesses. Investments by Nova Scotians into the FarmWorks CEDIF are loaned to businesses with outstanding management, the capacity for innovation and demonstrated demand for the product. FarmWorks invests in a range of food-related businesses chosen by the Board to balance risk and achieve strategic goals.

FarmWorks Board Members and Advisors collaborate with business owners and help facilitate mentoring by appropriate specialists to insure the success of the enterprise and the CEDIF.

Support takes the form of ongoing promotion of the benefits of eating healthy local food and investing in local enterprises. Through sustainable, innovative funding and knowledge transfer and mentoring, the FarmWorks Co-operative helps meet a range of provincial food-related needs, stimulates economic growth and provides social and environmental benefits.

Characteristics of Share Offer 

Shares in FarmWorks Fifth Offer are available  

The price per share is $100, minimum share purchase: 1 share for $100.00.

The minimum number of Shares is 500 and the total proceeds if minimum sold is $50,000. The maximum number of Shares is 10,000 and the total proceeds if maximum sold is $1,000,000.

The offering price is established arbitrarily by the Issuer.

The Issuer distributes securities until June 10, 2016.

The shares are fully paid, newly issued voting common shares that are non-retractable, non-redeemable for 5 years, non-convertible shares and not restricted in profit sharing or participation upon dissolution.

Investments are 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.

The investment is eligible for further Equity Tax Credits of 20% and 10% at the 5 and 10 year investment anniversaries, respectively, provided CEDIF meets certain conditions.

Please contact  Linda Best at lbest@ns.sympatico.ca or phone 902-542-3442, cell 902-670-3660 with questions or for further information about the offer.

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 OR FINDER, (LINDA BEST AT 902-542-3442, LBEST@NS.SYMPATICO.CA). THIS OFFERING CONSTITUTES AN EXEMPT OFFERING OF THESE SECURITIES ONLY IN NOVA SCOTIA BY AUTHORIZED SALES AGENTSINVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION.

This has been approved by Peter Hicklenton, Chair and Linda Best, Treasurer of FarmWorks Investment Co-operative Limited.

FarmWorks Clients discuss their businesses and FarmWorks

FarmWorks Frequently Asked Questions

PLEASE REVIEW THE FOLLOWING DOCUMENTS:

ETC Approval 2016

CEDIF Extension Approval

FarmWorks Fifth Offering Document 2015 for distribution

FarmWorks Subscription Form 2016

December 9, 2015 Accountant’s Consent Letter

2014 FWIC Financial Statements K Coombs

FarmWorks Financial Statements Nov 30, 2015

Equity Tax Eligibility for Investors – NS Department of Finance

FarmWorks CED November 2015

PLEASE CONTACT LINDA BEST FOR RRSP AND TSFA FORMS


For more information about FarmWorks Offers please contact lbest@ns.sympatico,ca, or phone 902-542-3442, cell 902-670-3660.

Slide presentation FarmWorks September 2015 describes FarmWorks and the CEDIF program.

FarmWorks is a Community Economic Development Investment Fund (CEDIF) that lends Shareholder investments to Nova Scotian food producers.

FarmWorks CEDIF provides an excellent, efficient, ethical way to leverage local capital to help build a sustainable agricultural economy, rebuild rural communities and contribute to all aspect of life in the Province.

“Blind pool” CEDIFs place capital in a manageable number of qualified businesses. FarmWorks invests in a range of food-related businesses chosen by the Board to balance risk and achieve strategic goals.

Investments into the CEDIF made by Nova Scotians are placed in businesses with outstanding management, the capacity for innovation and demonstrated demand for the product.

FarmWorks Board Members and Advisors collaborate with business owners and help facilitate mentoring by appropriate specialists to insure the success of the enterprise and the CEDIF.

Support takes the form of ongoing promotion of the benefits of eating healthy local food and investing in local enterprises. Through sustainable, innovative funding and knowledge transfer and mentoring, the FarmWorks Co-operative helps meet a range of provincial food-related needs, stimulates economic growth and provides social and environmental benefits.


FarmWorks is Charting a Path for Growth in Nova Scotia

Shareholders in FarmWorks Investment Co-operative Limited Community Economic Development Investment Fund (CEDIF) are helping to create employment and increase production and profitability in the food sector in Nova Scotia.

The first four FarmWorks CEDIF Offers raised $1,033,400 within 38 months, $1,056,000 has been loaned to 44 food-related businesses, all expenses have been paid and there is $210,000 in the Credit Union. Monthly loan repayments add to the amount available to be loaned to new applicants after exacting due diligence procedures have been completed. Payment by clients of the principle and interest at six percent commences three months after loans are disbursed. No fees are charged for applications or early repayment and Directors and Advisors provide mentoring, networking and promotion. Businesses benefit from FarmWorks capacity to link producers and customers and create a matrix of food supply and multiple points of sale.

FarmWorks was established in 2011 to promote and provide strategic and responsible community investment in local food production and distribution in order to help increase agricultural and related economic activity and provide access to sustainable local food for all Nova Scotians.

Shareholders who chose to hold investments for 15 years in FarmWorks Community Economic Development Investment Fund (CEDIF) will receive cumulative Provincial tax credits of 65% in addition to dividends paid in five year installments. Invested funds are used to provide subordinated debt to farms and food-related businesses. Applicants’ values and goals must align with those of FarmWorks, and diligent review of business plans, financial projections and feasibility by directors and/or advisors precedes any Board decision to lend.. Protection of shareholder investments in FarmWorks is paramount in order to ensure the ongoing operational and reputational success of the CEDIF.

A survey carried out at 18 months indicated that the first 18 businesses receiving loans created 20 full time and six part time jobs in addition to 21 full time and 14 part time positions held in their businesses by the owners themselves. For startup and young businesses roughly 25% of their total capital came from FarmWorks, representing a significant contribution to their businesses. For established businesses, loans accounted for 1.5% to 100% of specific project capital.

Starting in September a student in the Masters in Public Administration program at Dalhousie will be carrying out a survey of the first 36 months of operation to assess the economic, social and other benefits provided by FarmWorks’ investors’ loans to food-related businesses.

FarmWorks is having a significant effect on Nova Scotia’s agri-food sector by strengthening many food and farming businesses. Recognizing that access to high quality local food for people everywhere is a significant challenge, FarmWorks has been keen to support restaurants, and food outlets featuring local products in many of our communities. The networking and trickle-down effects have been remarkable as we have seen demand for local product grow, and new alliances between producers and purveyors of fine Nova Scotia food develop. FarmWorks is helping to chart a path for growth by investing in all facets of local food production and distribution, while improving food security – a key determinant of the health of people, communities, and the economy of Nova Scotia.

FarmWorks’ ability to attract investment into the sector depends on the success of the clients, but also on the growing awareness of the benefits of local food production as a key to community economic resiliency, improved health outcomes, security of food supply and biodiversity. Sustainable food production is fertile ground for investors seeking returns on ethical investments. Over three years of operations FarmWorks has seen interest grow in an investment vehicle that keeps Nova Scotian’s dollars working for Nova Scotians. Our challenge for the future is to reach more and more people who want to invest in our own future. Our immediate goal: to double the total invested in FarmWorks by 2016.


 

 

 

Previous Offer:

ETC Fourth Offer FarmWorks Investment Co-operative Limited

FarmWorks Fourth CEDIF October 6, 2014 -2

Kelly Coombs Consent October 6, 2014

FWIC Kelly Coombs Financial Statements 2013

Financial 2014 Aug

Certificate 2014

Subscription Form