[Sust-mar] PRESS RELEASE - FARMWORKS INVESTMENT CO-OPERATIVE LIMITED

[Jen Stotland]

>  *This release is also attached
>> *
>>
>> *FarmWorks Investment Co-operative Limited
>>  *
>> *PRESS RELEASE*
>>
>> *For Release November 30, 2011*
>>
>> *FarmWorks Investment Co-operative Limited establishes Community
>> Economic Development Fund to facilitate investment in Nova Scotian
>> agriculture and food-related enterprises.*
>>
>> *The Directors of FarmWorks Investment Co-operative Limited are pleased
>> to announce that the application for a Certificate of Registration under
>> the Nova Scotia Equity Tax Credit Legislation (the “Legislation”) has been
>> approved by the Minister of Finance and that a letter of non-objection has
>> been received from the Nova Scotia Securities Commission. *
>>
>> *This entitles investors who purchase shares in the FarmWorks Community
>> Economic Development Investment Fund (FarmWorks CEDIF) and who meet the
>> criteria as set out in the Legislation to receive a personal non-refundable
>> tax credit. **Investments are eligible for a 35% Nova Scotia
>> non-refundable Equity Tax Credit and further Tax Credits of 20% and 10% at
>> the 5 and 10 year investment anniversaries, respectively, as well as for
>> RRSP tax deferral if the FarmWorks CEDIF meets certain conditions *
>>
>> *The Directors of FarmWorks are committed to promoting and providing
>> strategic and responsible community investment in food production and
>> distribution in order to increase access to a sustainable local food supply
>> for all Nova Scotians. There is significant potential for food-related
>> enterprises to contribute to Provincial economic output. Production of food
>> creates jobs on farms and throughout the food system, increases food
>> sufficiency, keeps money in Nova Scotia and provides economic stimulus to
>> reinvigorate rural communities. *
>> * *
>>
>> *During the last 50 years foods procured from lower cost regions have
>> displaced the bulk of local production. However, concerns about supply,
>> cost, health, environment and other issues are bringing about a gradual
>> reversal of that trend. But the loss of markets has decreased the capacity
>> and capital required to provide increasing amounts of local food.
>> Investment in farms and production is essential if significant gains are to
>> be made. Investments in the FarmWorks CEDIF will be used to provide
>> equity and subordinated debt funding to sustainable farms and food-related
>> businesses to help increase agricultural and related economic activity.*
>> * *
>>
>> *The Directors of FarmWorks Investment Co-operative Limited are Richard
>> Melvin, Ann Anderson, Linda Best, Alison Scott Butler, Stephen Anderson,
>> Carol Harris, Mark Parent, and Sarah Story. The Directors seek advice on
>> finance, agriculture, economic development, education, and health from
>> professionals across the Province.*
>>
>> *CEDIFs are an increasingly popular tax-advantage investment model.
>> Investments are eligible as a RRSP contribution and for a non-refundable
>> Nova Scotia Equity Tax Credit against Nova Scotia taxes paid or payable (may
>> be carried forwards 7 years and backward 3 years). The shares are
>> intended as a long term investment and yield further Tax Credits if the
>> FarmWorks CEDIF meets certain conditions. The shares are not traded on
>> any stock exchange and their value is not directly affected by market
>> trends in the current economic climate.  *
>> * *
>>
>> *THE CEDIF OFFERING IS MADE THROUGH AN OFFERING DOCUMENT, WHICH CAN BE
>> OBTAINED FROM LINDA BEST AT 902-542-3442, LBEST at NS.SYMPATICO.CA, OR FROM
>> ANY OF THE BOARD MEMBERS. INVESTORS SHOULD READ THE OFFERING DOCUMENT
>> BEFORE MAKING AN INVESTMENT DECISION.*
>> * *
>>
>> *For more information please contact: *
>> * *
>>
>> *Linda Best
>> Secretary-Treasurer*
>> * *
>>
>> *FarmWorks Investment Co-operative Limited*
>> * *
>>
>> *Phone: 902-542-3442*
>> * *
>>
>> *lbest at ns.sympatico.ca
>> *
>>
>> **
>>
>>
>
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