New co-operative benefits from federal exemption agreement
Saskatoon, Sask. – Lamb producers in Canada now have a new national co-operative.
The Canadian Lamb Producers Co-operative was set up through a precedent-setting ruling by federal regulators, says the Canadian Co-operative Association (CCA). According to the CCA, in May the Canadian Securities Administration granted an exemption agreement allowing the co-op to sell membership and investment shares to lamb producers across Canada without filing a prospectus in each province – something agricultural co-ops were previously required to do.
The new co-op will focus on marketing Canadian lamb products from its members, and building a national and international brand owned by lamb producers.
Canadian lamb producers can become members by purchasing membership and investment shares. Producers will also be required to sign a 36-month production agreement committing them to selling a minimum of 25 lambs per year to the co-op. The CCA says that 160 lamb producers have so far expressed interest in joining the co-op.
The Canadian Lamb Producers Co-operative will be headquartered in Saskatoon, Sask., with a regional office in Guelph, Ont.
For more information visit www.canadianlambcompany.ca