An offering memorandum is being prepared to raise money for a federally
inspected slaughter plant for small and specialized livestock.
Five Star Specialty Meats Ltd. is the company behind the push to build
a $4-$5 million plant near Saskatoon to slaughter lambs, goats, emus,
ostriches and rabbits.
Tom Porter, the Saskatoon-based consultant spearheading the project,
said there have been several advances since the proposal became public
last fall.
Work has been done on a new generation co-op called Living Sky
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Products, www.livingskyproducts.com, that will co-ordinate the supply
of lambs to the slaughter plant. Living Sky has an arrangement with a
Toronto-based distributor that supplies restaurants in Western Canada.
The slaughter plant will function strictly on a contract basis.
“It will not buy or sell animals and it will do no marketing,” Porter
said. “The slaughter plant is just a service.”
Co-ordination of supply to the plant and marketing of the resulting
meat will be done by the producer groups backing the project.
Five Star Specialty Meats opted to go with an offering memorandum
instead of a full fledged prospectus to speed the process. But there
are limitations to an offering memorandum. It will be open to producers
only, not the public. And investors will have to review their decision
with the help of a financial professional.
Porter said the plant design should be complete this month. He expects
the offering memorandum will be done in August and hopes construction
can begin in the fall.
