Ninth Offer Success

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News – Ninth Offer

FarmWorks’ Ninth Offer of Shares raised $523,000 for an eight year total of $3,234,900 and during that time only $67,500 (2%) has been redeemed, primarily by people collapsing RRSPs. Rather than redeeming investments, some RRSP holders switch to non-registered FarmWorks Shares.

To date over $4,500,000 in loans have been provided to 110 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 chosen by the Board to balance risk and achieve strategic goals including increasing the supply of food, creating and maintaining jobs and stimulating the economy. 

The independent accountants, Grant Thornton, are preparing year end Financial Statements which will be posted on FarmWorks website.

FarmWorks Annual General Meeting is intended to be held at The Station Food Hub in Newport Station at 2 pm on Sunday, April 26th unless Covid 19 dictates a change in plans. Please check FarmWorks website for updates.

For more information please contact: Linda Best, FarmWorks Investment Co-operative Limited. Phone: 902-542-3442 Cell: 902-670-3660 lbest@ns.sympatico.ca

FarmWorks Share Offer Information and “Gentle Dragons” sessions.

Community Economic Development Investment Fund Approval

Nova Scotia Securities Commission Non-objection

FarmWorks Ninth Offering Document

Financial Statements October 31, 2019 – Grant Thornton

Subscription Form

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 20,000 and the total proceeds if maximum sold is $2,000,000.
The offering price was established arbitrarily by the Issuer.
The Issuer will distribute securities until March 2nd, 2020.
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.

Please contact lbest@ns.sympatico.ca for RRSP Investment Forms

Frequently-Asked-Questions-FarmWorks-1.

Press Release January 18, 2020FarmWorks Ninth Offer Shares Available for Investment in Nova Scotian Community Economic Development

FarmWorks Shareholders’ investments are supporting food-related businesses that improve economic and social outcomes across Nova Scotia. To date 418 shareholders have invested $2,716,900 and in less than eight years over $4,400,000 has been loaned to 110 businesses. In addition, FarmWorks assists with mentoring and promotion of businesses. Funds from the Ninth Offer will be loaned to current and new applicants who meet FarmWorks criteria for sustainable, profitable food-related businesses in Nova Scotia.

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. Please read the December Newsletter for information about FarmWorks and Clients.

FarmWorks Ninth 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 January and February FarmWorks will be hosting Information Sessions, including “Gentle Dragons” across the Province for potential investors, and for producers interested in applying for FarmWorks loans.

This Offer of shares (each $100) will be open until March 2nd, 2020 and shares are eligible for Provincial tax credits for the 2019 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.

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, lbest@ns.sympatico.ca. 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, Treasurer of FarmWorks Investment Co-operative Limited.

For more information about the offer and this press release contact: Linda Best FarmWorks Investment Co-operative Limited, 70 Eden Row, Greenwich, NS, B4P 2R2, Phone: 902-542-3442 or 902-670-3660, lbest@ns.sympatico.ca

Documents for Investors

Community Economic Development Investment Fund Approval

Nova Scotia Securities Commission Non-objection

FarmWorks Ninth Offering Document

Consent Letter

Financial Statements October 31, 2019 – Grant Thornton

Subscription Form

Please contact lbest@ns.sympatico.ca for RRSP Investment Forms

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 20,000 and the total proceeds if maximum sold is $2,000,000.
  • The offering price was established arbitrarily by the Issuer.
  • The Issuer will distribute securities until March 2nd, 2020.
  • 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.