By now, you may (or may not!) know that Naveco Power is working towards becoming a Community Economic Development Corporation- or a community investment fund- in New Brunswick. Investing in a CEDC and Naveco Power will create opportunities for NB’ers, benefits for the investor, and a clean economy for all!
To be an eligible investor there are a few requirements by FCNB that must be met;. http://www.fcnb.ca/cedc.html
It is important to note that the minimum investment per individual is $1000 & the maximum investment is $250,000. If the investor is a trust or a corporation, the minimum investment is $50,000. An investor must hold onto their shares for 4 years before being able to sell.
Steps to become an investor (the how):
- Deliver an express of interest for the CEDC (this would be downloaded right from the website). Don’t worry, an expression of interest is not a commitment to investing. The CEDC would then give you an offering document- this will hold financial info about the proposed projects and will outline the risks of investing.
- Deliver an acknowledgement stating you agree to the CEDC’s risk.
- Agree to buy shares in the CEDC by delivering a signed subscription agreement (you have 2 days to change your mind).
Investor benefits (the why):
- May receive returns in the form of dividends (biannually) or cash distributions upon the sale of shares.
- May be eligible for a 50% personal income tax credit.
- May be eligible for a 15% income tax credit for trust and corporate entities.
- Contribution to the growth of your community, the increased use of renewable energy in New Brunswick, and the addition of “green” to your wallet and investment portfolio!