Scotian Wind offers last chance to invest in COMFIT Program
Renewable energy investment company, Scotian Wind Inc. announced today the launch of its CEDIF offering for the 2017 RRSP season. A letter of non-objection was received from the Nova Scotia Securities Commission last week, paving the way for the company to launch its offering to eligible Nova Scotian investors.
Scotian Wind already has 300 shareholders throughout Nova Scotia after raising $1.7 million in a CEDIF offering last year. The current offering of up to $2.8 million will provide the opportunity for more Nova Scotians to share in ownership of the 20 Vestas 2 MW turbines that Scotian Wind and its partners are operating at various locations throughout the province under 20-year power purchase agreements with Nova Scotia Power.
The equity capital raised by Scotian Wind will be directed to existing projects that were developed under the Community Feed-In Tariff (COMFIT) program of the provincial government. This program has since closed, making this the final opportunity for Nova Scotians to invest in projects that qualify for COMFIT rates and terms.
This share offering is authorized under the Community Economic Development Investment Fund (CEDIF) program. This program provides provincial tax advantages to Nova Scotian investors on the purchase of shares of qualified companies.
By qualifying under the CEDIF program, Scotian Wind ensures that its shareholders will enjoy a 35% non-refundable Equity Tax Credit toward 2106 provincial income taxes, as well as potential further tax credits of 20% and 10% for holding the shares over the duration of 5 and 10 year periods respectively. The shares of Scotian Wind are RRSP eligible as well, to further enhance the attractiveness to investors.
The company has announced that it is launching a ‘Green Investment Tour’ by its President, Terry Norman and two other Sales Agents: Jen Nicholson and David Howell. Nova Scotians can learn more about the opportunity to own shares in Scotian Wind and the tax advantages that accrue by attending one of the following information sessions:
Feb 8 5 pm Antigonish People Place Library
Feb 9 5:15pm Halifax BMO Community Room – Halifax Central Library
Feb 11 10 am Baddeck Inverary Inn
Feb 13 5:15pm Halifax Future Inn, Bayers Lake
Feb 16 5 pm Western Shore Oak Island Inn
Feb 18 1 pm Annapolis Royal Fire Hall
Feb 21 5:15pm Dartmouth Hampton Inn, Dartmouth Crossing
Feb 22 5 pm Windsor Cedar Centre
For those who cannot attend a meeting, they may contact President, Terry Norman directly at the coordinates below.
Terry J. Norman, President & CEO
Scotian Wind Inc.
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: Terrance Norman, David Howell, or Jennifer Nicholson. 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 promotional material has been approved for distribution by Terrance Norman, President of the Issuer.