On Thursday, February 10, Brooks Pepperfire Foods, was the subject of an investigative news report by @CBCNews. http://bit.ly/ghxNyS Jump forward to 10:43 to see the story.
The story outlines the fact that although press releases were made saying that the company had received $130,000 from the Federal Government. What was in fact received from them was a sign and a promise. The sign is currently on display on the front of the facility where Peppermaster Sauces are made in Rigaud, Quebec.
What is not in evidence in the article is that as a condition of the offer, Brooks Pepperfire is required spend the monies in order to get them back from the Government. It had been anticipated originally, that because the Government is taking no collateral for the security of the project, all of the $130,000 was available for a financier’s protection and this in addition to the assets that would be purchased with the money.
Unfortunately, the conventional banks have refused to embark upon the project regardless of the capital reserve to protect their investment in the expansion project.
As a result of this situation, Brooks Pepperfire Foods has set up an ebay auction to help find their investor. http://bit.ly/gujv7te
The details have been released in a media release sent out today. You can find it here: http://conta.cc/gfltDJ
Please feel free to share the story. We have until March 31, 2011 to complete the project.