Lunenburg Working Waterfront Investment Fund: Investment Opportunity
02/03/10 11:30
Dear NSSA Members,
Lunenburg Working Waterfront Investment Fund (LWWIF) is the new name of the Covey Island Boatworks Investment Fund. This new name better reflects our goal of helping ³Create a Renewed Working Waterfront in Lunenburg²
The Lunenburg Waterfront Association (LWA) was instrumental in successfully lobbying the province of Nova Scotia to purchase 24 buildings and properties in the town in 2004; Lunenburg¹s waterfront is again coming to life.
Approximately $650 million is invested by Nova Scotia residents in RRSPs each year but less than 2% of that money is invested in Nova Scotia Businesses. In an effort to increase investment in Nova Scotia, the Province introduced the CEDIF program and introduced significant equity tax credits to qualified investors (up to 65%) over the term of the investment.
We have created an investment opportunity for the community and residents of Nova Scotia to invest in our fund whose mandate is to stimulate the waterfront by investing in new and existing businesses on Lunenburg¹s waterfront.
The attached brochures and press release will help answer most of your questions on this investment opportunity including the significant tax incentives available through the province and federal government.
This investment opportunity will be open for the 2009 tax yearŠRRSP season (ends March 1, 2010) .
Please feel free to contact us (see contact names below) with any questions you may have on this matter or if you would like us to send you further information including the Offering Document and a subscription form.
Best Regards,
LWWIF Board Of Directors
Ph: 902-640-3064
Email: info@lwwif.ca
PRESS RELEASE
PRESS RELEASE, February 10, 2010
Lunenburg Working Waterfront Investment Fund Ltd. (formerly Covey Island Boatworks Investment Fund Ltd.) launches new CEDIF share offering
Lunenburg Working Waterfront Investment Fund Ltd (LWWIF) (formerly the Covey Island Boatworks Investment Fund Ltd.) has changed their name to better reflect their mandate in helping “To Revitalize the Working Waterfront" in the Town of Lunenburg.
They are also pleased to announce a new share offering just in time for this year’s RRSP season and upcoming deadline of March 1st. For more information on this investment opportunity please visit their website at www.LWWIF.ca
Gerald Keddy, Member of Parliament for South Shore – St. Margaret’s said “The Lunenburg Working Waterfront Investment Fund will not only play an active role in the revitalization of Lunenburg's waterfront, it will provide investors with the opportunity to see their money working at home, in their community."
"The Lunenburg Waterfront Association (LWA) is pleased to see this initiative and supports the idea of a CEDIF with the objective of stimulating business and economic activity on Lunenburg's waterfront" said Jim Eisenhauer, President, Lunenburg Waterfront Association Inc.
"I'm delighted to see any efforts to invest in Lunenburg's waterfront. Lunenburg has a long history of people investing in their own community, and this is an excellent endeavour to enable individuals to do just that" said Pam Birdsall, MLA for Lunenburg.
The fund has been set up under the Nova Scotia government's Community Economic Development Investment Fund (CEDIF) program, designed to encourage Nova Scotians to invest within their own province. This gives Nova Scotian investors a 35%, non-refundable tax credit against Nova Scotia taxes paid or payable and RRSP eligibility. Further tax credits may be available up to an additional 30% if certain conditions are met by the CEDIF and the government extends the program beyond Feb. 29, 2012.
LWWIF is a pool of funds that will be used to help finance marine related businesses looking to locate, start-up or expand on the Lunenburg Waterfront in consort with the UNESCO Heritage site designation. The fund has already approved a loan to one business in Lunenburg but many more possibilities exist including: boat building and repair, a marina, fisheries related businesses, sail lofts, rigging services, chandlery, shipwright training, sail training schools/ships, boat sales & brokerage and more.
Currently, the Nova Scotia government estimates less than 2% of the $660 million dollars Nova Scotians invest annually in RRSPs remains in the province. Since being introduced in the late 90's, over 44 CEDIFs have been established in Nova Scotia and currently are managing in excess of $25 million in investments. As the CEDIF program increases the flow of dollars into local businesses, shareholders can not only receive their tax credits but see their investment grow as it increases jobs and the tax base in their communities.
THIS CEDIF OFFERING IS MADE THROUGH AN OFFERING DOCUMENT, WHICH MAY BE OBTAINED FROM AN AUTHORIZED SALES AGENT OR FINDER by calling 902-405-4432 or sending an email to: info@CEDIFMgmt.com. INVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION.
CONTACT for more information: John Steele or Al Hutchinson
Lunenburg Working Waterfront Investment FundPhone: 902-640-3064 or 902-482-4252
THIS CEDIF OFFERING IS MADE THOUGH AN OFFERING DOCUMENT, WHICH MAY BE OBTAINED FROM AN AUTHORIZED SALES AGENT OR FINDER BY CALLING 902-405-4432 OR SENDING AN EMAIL TO: info@CEDIFMgmt.com INVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION
Lunenburg Working Waterfront Investment Fund (LWWIF) is the new name of the Covey Island Boatworks Investment Fund. This new name better reflects our goal of helping ³Create a Renewed Working Waterfront in Lunenburg²
The Lunenburg Waterfront Association (LWA) was instrumental in successfully lobbying the province of Nova Scotia to purchase 24 buildings and properties in the town in 2004; Lunenburg¹s waterfront is again coming to life.
Approximately $650 million is invested by Nova Scotia residents in RRSPs each year but less than 2% of that money is invested in Nova Scotia Businesses. In an effort to increase investment in Nova Scotia, the Province introduced the CEDIF program and introduced significant equity tax credits to qualified investors (up to 65%) over the term of the investment.
We have created an investment opportunity for the community and residents of Nova Scotia to invest in our fund whose mandate is to stimulate the waterfront by investing in new and existing businesses on Lunenburg¹s waterfront.
The attached brochures and press release will help answer most of your questions on this investment opportunity including the significant tax incentives available through the province and federal government.
This investment opportunity will be open for the 2009 tax yearŠRRSP season (ends March 1, 2010) .
Please feel free to contact us (see contact names below) with any questions you may have on this matter or if you would like us to send you further information including the Offering Document and a subscription form.
Best Regards,
LWWIF Board Of Directors
Ph: 902-640-3064
Email: info@lwwif.ca
PRESS RELEASE
PRESS RELEASE, February 10, 2010
Lunenburg Working Waterfront Investment Fund Ltd. (formerly Covey Island Boatworks Investment Fund Ltd.) launches new CEDIF share offering
Lunenburg Working Waterfront Investment Fund Ltd (LWWIF) (formerly the Covey Island Boatworks Investment Fund Ltd.) has changed their name to better reflect their mandate in helping “To Revitalize the Working Waterfront" in the Town of Lunenburg.
They are also pleased to announce a new share offering just in time for this year’s RRSP season and upcoming deadline of March 1st. For more information on this investment opportunity please visit their website at www.LWWIF.ca
Gerald Keddy, Member of Parliament for South Shore – St. Margaret’s said “The Lunenburg Working Waterfront Investment Fund will not only play an active role in the revitalization of Lunenburg's waterfront, it will provide investors with the opportunity to see their money working at home, in their community."
"The Lunenburg Waterfront Association (LWA) is pleased to see this initiative and supports the idea of a CEDIF with the objective of stimulating business and economic activity on Lunenburg's waterfront" said Jim Eisenhauer, President, Lunenburg Waterfront Association Inc.
"I'm delighted to see any efforts to invest in Lunenburg's waterfront. Lunenburg has a long history of people investing in their own community, and this is an excellent endeavour to enable individuals to do just that" said Pam Birdsall, MLA for Lunenburg.
The fund has been set up under the Nova Scotia government's Community Economic Development Investment Fund (CEDIF) program, designed to encourage Nova Scotians to invest within their own province. This gives Nova Scotian investors a 35%, non-refundable tax credit against Nova Scotia taxes paid or payable and RRSP eligibility. Further tax credits may be available up to an additional 30% if certain conditions are met by the CEDIF and the government extends the program beyond Feb. 29, 2012.
LWWIF is a pool of funds that will be used to help finance marine related businesses looking to locate, start-up or expand on the Lunenburg Waterfront in consort with the UNESCO Heritage site designation. The fund has already approved a loan to one business in Lunenburg but many more possibilities exist including: boat building and repair, a marina, fisheries related businesses, sail lofts, rigging services, chandlery, shipwright training, sail training schools/ships, boat sales & brokerage and more.
Currently, the Nova Scotia government estimates less than 2% of the $660 million dollars Nova Scotians invest annually in RRSPs remains in the province. Since being introduced in the late 90's, over 44 CEDIFs have been established in Nova Scotia and currently are managing in excess of $25 million in investments. As the CEDIF program increases the flow of dollars into local businesses, shareholders can not only receive their tax credits but see their investment grow as it increases jobs and the tax base in their communities.
THIS CEDIF OFFERING IS MADE THROUGH AN OFFERING DOCUMENT, WHICH MAY BE OBTAINED FROM AN AUTHORIZED SALES AGENT OR FINDER by calling 902-405-4432 or sending an email to: info@CEDIFMgmt.com. INVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION.
CONTACT for more information: John Steele or Al Hutchinson
Lunenburg Working Waterfront Investment FundPhone: 902-640-3064 or 902-482-4252
THIS CEDIF OFFERING IS MADE THOUGH AN OFFERING DOCUMENT, WHICH MAY BE OBTAINED FROM AN AUTHORIZED SALES AGENT OR FINDER BY CALLING 902-405-4432 OR SENDING AN EMAIL TO: info@CEDIFMgmt.com INVESTORS SHOULD READ THE OFFERING DOCUMENT BEFORE MAKING AN INVESTMENT DECISION