Canadian Prairie Lamb is hoping to capitalize on better times for sheep by introducing a share offering this spring.
CPL, a company that makes oven ready frozen lamb dishes, will offer unlimited numbers of Class A voting shares and approximately 400 Class B dividend shares until June 30. Shares will sell for $250 each, with a maximum purchase of $10,000 permitted on Class B shares.
CPL general manager Gordon Schroeder said the company’s last share offering did not sell out because it took place during a slowdown in the livestock industry that was caused by the discovery of BSE in Canada.
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“For many it was not a good time to do that,” he said. “Now we’ve brought it back in better times.”
Schroeder said he is optimistic about the lamb industry, citing good prices and high demand.
While sheep numbers fell in Canada during the BSE crisis, western herds fared better than eastern ones because of their lower costs of production, he added.
Quebec has the greatest number of sheep, followed by Ontario, Alberta and Saskatchewan.
The Saskatchewan Sheep Development Board created CPL in 2001 to add value to lamb products and find markets for secondary cuts.
It created a line of convenience products that go from frozen to the plate in four minutes and include entrees such as marinated lamb kabobs, Greek style meatballs and Assyria lamb sausage.
