FarmWorks’ 2023 Annual General Meeting took place at 2 pm on Sunday April 30th at the Dartmouth Wooden Monkey in person, and virtually.
FarmWorks’ independent accountants, Grant Thornton, have prepared the 2022 year-end Financial Statements and here is the 2022 Annual Report and Minutes of the 2022 AGM. There will be local food!
FarmWorks Clients who were Guest Speakers included: Paul Hill, Hill’s Jamaican Jerk Sauce and Maritime Foods. Jason Wolfe, Urban Lighthouse Farm. Sophia Gruber & Andreas Preuss, Oxalis Restaurant.
Dear Shareholders,
Thank you to everyone who has invested in FarmWorks’ twelve offers of Shares – some of you have invested in every offer! Please visit FarmWorks website to keep up to date with all the wonderful FarmWorks clients who are growing Nova Scotia’s food economy using the money you have invested. They appreciate your support and your purchases of their food and beverages. Please keep the Map of Loan Recipients close at hand!
The twelfth offer raised $574,900 for an overall total of $5,209,300 and only 6.6% of investments have been redeemed over the previous years, primarily by people collapsing RRSPs. Rather than redeeming FarmWorks shares at age 71, especially if part-way through a five-year term, it may be convenient for RRSP holders to switch to non-registered shares that continue to be invested in FarmWorks. All FarmWorks documents are immediately provided at the close of each Offer to the Department of Finance which issues the Equity Tax Credit Certificates and to the Canadian Workers Cooperative Federation which issues the RRSP claim forms.
To date over $8,323,500 has been loaned to 152 qualifying businesses that are helping to increase the economic, health, social, environmental, and other benefits that result from producing and eating Nova Scotian food. Loan recipients are carefully chosen by the Board to balance risk and achieve strategic goals: increasing the supply of food, creating and maintaining jobs and stimulating the economy, and supporting people and the environment. FarmWorks Clients adapted to COVID 19 and are adjusting to rising input costs and climate-related challenges as they develop their food-related businesses to provide for their clients, their communities, and the Province.
The volunteer Directors of FarmWorks Investment Co-operative Limited come from across Nova Scotia and bring expertise in agriculture and food production, economic development, education, health, business, finance and sustainability and the environment. It is an honour to be a Director of this organization that’s making a significant difference in outcomes across Nova Scotia. Those of you who have attended any of our ‘Gentle Dragons’ Information sessions have heard from clients and applicants about the respect they have for what FarmWorks is accomplishing.
FarmWorks will be participating in various events during the summer and fall and these will be posted on the website – watch for announcements!
Thank you everyone!
For more information please contact:
Linda Best
lbest@ns.sympatico.ca