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Securities commission order made against Lawrencetown business

The Nova Scotia Securities Commission has issued a permanent cease-trade order today against West Nova Agro Commodities Ltd. that operates a grain centre in Lawrencetown and a pellet and fire log operation in Centrelea.
The Nova Scotia Securities Commission has issued a permanent cease-trade order today against West Nova Agro Commodities Ltd. that operates a grain centre in Lawrencetown and a pellet and fire log operation in Centrelea.

LAWRENCETOWN - A cease-trade order has been issued against an agricultural commodities centre in Lawrencetown after it failed to file the required paperwork.

The Nova Scotia Securities Commission has issued a permanent cease-trade order today against West Nova Agro Commodities Ltd. that operates a grain centre in Lawrencetown and a pellet and fire log operation in Centrelea.

West Nova Agro general Manager Jonathan McClelland said the company is required to file statements by a certain time and due to a paperwork oversight, that wasn’t done.

“We’ve had a lot on our plate and this slipped,” he said. “It doesn’t affect the ongoing operation of the business. We have to get our paperwork up to date and that restriction will be lifted.”

“The company, a Nova Scotia community economic-development corporation, violated securities laws by failing to file continuous disclosure documents,” the securities commission said.

The commission’s director of corporate finance ordered West Nova Agro to comply with Nova Scotia securities laws and ordered all people and companies to permanently cease trading in securities of West Nova Agro Commodities Ltd.

The order states that the company failed to file its annual financial statements for the year ended July 31, 2016 by the Dec. 18 2016 filing deadline. The order is in effect until further notice.

 

Busy Year

McClelland said the oversight is embarrassing but he’s working to submit the statements required and hopes the order will soon be lifted.

He said the company worked hard this past year to work out all the bugs in its fire log plant that uses hay unsuitable for animals to make fire logs and hay pellets.

The company also dries and markets wheat, soy, and corn from area farmers.

McClelland said 2016 saw reasonable harvests and the company continues to provide a valuable resource for the community.

West Nova Agro is a community-owned and operated business.  McClelland said there are about 110 community members who invested in it through the Community Economic Development Investment Fund. West Nova Agro, one of the first businesses in Nova Scotia to start up under this investment program, has been in business since 2,000.

The business established grain drying and storage infrastructure for farmers in the Central and Western part of the Annapolis Valley and has helped facilitate increased grain and oilseed production in the region by more than 300 per cent, according to its website.

To view the order please visit http://nssc.novascotia.ca

To visit West Nova Agro’s website go to http://www.westnovaagro.ca/

The Nova Scotia Securities Commission has issued a permanent cease-trade order today against West Nova Agro Commodities Ltd. that operates a grain centre in Lawrencetown and a pellet and fire log operation in Centrelea.

West Nova Agro general Manager Jonathan McClelland said the company is required to file statements by a certain time and due to a paperwork oversight, that wasn’t done.

“We’ve had a lot on our plate and this slipped,” he said. “It doesn’t affect the ongoing operation of the business. We have to get our paperwork up to date and that restriction will be lifted.”

“The company, a Nova Scotia community economic-development corporation, violated securities laws by failing to file continuous disclosure documents,” the securities commission said.

The commission’s director of corporate finance ordered West Nova Agro to comply with Nova Scotia securities laws and ordered all people and companies to permanently cease trading in securities of West Nova Agro Commodities Ltd.

The order states that the company failed to file its annual financial statements for the year ended July 31, 2016 by the Dec. 18 2016 filing deadline. The order is in effect until further notice.

 

Busy Year

McClelland said the oversight is embarrassing but he’s working to submit the statements required and hopes the order will soon be lifted.

He said the company worked hard this past year to work out all the bugs in its fire log plant that uses hay unsuitable for animals to make fire logs and hay pellets.

The company also dries and markets wheat, soy, and corn from area farmers.

McClelland said 2016 saw reasonable harvests and the company continues to provide a valuable resource for the community.

West Nova Agro is a community-owned and operated business.  McClelland said there are about 110 community members who invested in it through the Community Economic Development Investment Fund. West Nova Agro, one of the first businesses in Nova Scotia to start up under this investment program, has been in business since 2,000.

The business established grain drying and storage infrastructure for farmers in the Central and Western part of the Annapolis Valley and has helped facilitate increased grain and oilseed production in the region by more than 300 per cent, according to its website.

To view the order please visit http://nssc.novascotia.ca

To visit West Nova Agro’s website go to http://www.westnovaagro.ca/

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