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2008 CEDIF Annual General Meeting
09.29.2008

TO: Attendees as well as interested parties who were unable to attend

On Thursday, August 21, 2008, the annual get-together for persons involved with CEDIF's took place at the Museum of Industry in Stellarton.

2008 CEDIF Meeting Agenda

As with previous meetings, the day started with a meet and greet where people could have casual conversation while enjoying coffee, tea and sweets. This provided a great opportunity for participants to discuss with other like-minded friends, progress which they have made over the past twelve months.

After introduction of the agenda and a review of the past 12 months activity participants were asked to introduce themselves, their affiliation and whether they have attended previous meetings. This was done to help attendees identify persons whom they wanted to track down at break or lunch for further discussions or questions.

The Provincial Regulators of CEDIF's, N.S. Securities Commission (Kevin Redden and Donna Gouthro ) and Finance (Philip Hatheway) outlined significant events from the perspective of those organizations. The Securities Commission outlined their findings from review of all CEDIF documents and introduced the new FAQ section of the NSSC website. All three persons remained to answer questions from the floor on process, timelines and common areas of difficulty.

Finance AGM CEDIF 2008

N.S. Securities Commission - Stellarton 2008

This years meeting focused on telling the stories of Funds moreso than providing instructions for "doing a CEDIF". The first Fund presentation was by Evangeline Investment Fund/ Paddy's Pub. John Fitzgerald outlined how they came to utilize CEDIF for the development of a bakery operation related to Paddy's Pub and Rosie's Restaurant.

Evangeline Fund CEDIF Presentation

The next presentation was by Ocean Links at Brule Point (www.oceanlinks.ca). Derek Forsyth, Managing Partner, and Dave Annis provided an overview of this exciting new development, the status of the CEDIF, the financing package (other sources of funds), etc. This presentation provided the audience an idea of the diversity of the uses of CEDIF as well as a real-world example at the start of a project.

After a Refreshments and Networking Break, Tanya Shaw Weeks, President and CEO, Unique CEDC, discussed how Unique CEDC came to raise almost $2 million (2006) which it invested in Unique Solutions Design Ltd. She also outlined how the Company has evolved from a custom pattern maker into a "tech company", using software and the 3D body scanner to collect personalized data and body measurement information that translates into customized products and services.

Unique Plan CEDIF

The morning ended with a Panel Discussion on Selling Shares, featuring Tanya Shaw Weeks- Unique CEDC, John Fitzgerald- Evangeline Investment Fund, Debra Moore- Just Us Coffee and Gordon Doe- BBI Fund.

Lunch was provided and most participants remained at the facility to network with others.

Upon reconvening, there was a discussion of the morning speakers followed by a discussion about CEDIF Communications. Press releases are being developed to help raise the profile of CEDIF's throughout the Province. The first of these will focus on how CEDIF's are paying dividends within communities throughout Nova Scotia. Also, Steve Hayes, NSED Webmaster, outlined changes to the CEDIF website www.gov.ns.ca/econ/cedif and outlined the Fund identity page using Valley Funeral Home Co-operative as an example.

Next, Glenn Munroe, President Soil Ecology Investment Group and administrator Farmers Market Investment Co-operative, outlined the experiences from the four offerings with which he has been involved. Lessons learned and suggestions for other funds will be shared as well as an opportunity to ask questions about these interesting Funds.

The final Fund presentation of the day was by Gordon Doe who provided an overview of the BBI Fund, the success it has achieved and the challenges in getting the Fund launched. He also outlined how he is able to produce a quality offering document that is consistently held out as a model by the Securities Commission for other Funds to emulate.

The day concluded with Wrap up and Final Comments after which most people dispersed. A number remained to carry on discussions and make arrangements for further meetings in the coming weeks.

As we look ahead to another successful season of CEDIF offerings, we encourage everyone involved to get their paperwork in order and submitted ASAP. Every year we face significant bottlenecks in December and with early submissions the process should be smoother for all involved.

Also, as we look further ahead to next year's AGM, we hope to receive some suggestions as to the time needed for the meeting, the relevance of the sessions themselves, suggestions for new topics and/or speakers and comments on the choice of venue.

Thanks to all for their efforts to develop local capital pools and retain capital in communities to help them grow and prosper.

Chris Payne
Nova Scotia Economic Development

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