The Tenth Offer is Open
Tenth Offer – See Investment Documents Below
The Documents required by the Nova Scotia Securities Commission and the Department of Finance have been non-objected and the Tenth Offer is now open. FarmWorks’ Ninth Offer of Shares raised $523,000 for an nine year total of $3,226,600 and during that time only 2.7% has been redeemed, primarily by people collapsing RRSPs. Rather than redeeming investments, some RRSP holders switch to non-registered FarmWorks Shares.
Over $5,166,000 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, preparing 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. FarmWorks Clients pivoted appropriately to meet the many challenges presented by COVID 19 and the Directors commend them for their commitment to their customers, their communities and FarmWorks.
Due to COVID 19 FarmWorks Information meetings will take place online on Zoom. Please contact Linda Best (email@example.com) to arrange individual meetings at your convenience or to request RRSP Forms.
Tenth Offer Documents for Investors
For more information please contact: Linda Best, FarmWorks Investment Co-operative Limited. Phone: 902-542-3442 Cell: 902-670-3660 firstname.lastname@example.org
Please contact email@example.com for RRSP Investment Forms
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 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 1, 2021.
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 Tenth 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 that include opportunities to hear from Clients across the Province.
This Offer of shares (each $100) will be open until March 1st, 2021 and shares are eligible for Provincial tax credits for the 2020 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 FarmWorks Investment Co-operative Limited, 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, Treasurer of FarmWorks Investment Co-operative Limited.