Happy New Year
We hope this Newsletter finds you and your family healthy, happy, and staying warm during this cold snap! Those of you from Manitoba and Saskatchewan should feel right at home ……but joking aside, please be careful out there. It is dangerously cold no matter where you originate from.
Communication Delay
The cause - a nasty GI bug that still has the editor in its grips – but “better late than never”
Housekeeping Issues
Our communications have consistently stated - *we will update you when, and only when, we have news. We would ask that you not assume that silence translates to our ignoring investors or that the project is bankrupt. We are simply managing costs by reducing staff and remaining staff hours.
Project Update
As you know, the Developer has been exploring opportunities for sale of the project. Commercial firms were consulted in May and the determination was made not to enter the market at that time as conditions were not favourable for the Seller. The idea was re-evaluated in November, and the project has been relisted. To date, we do not have any firm commitments on paper.
Tax Slips
As there were no distributions or dividends in the 2023 Tax Year there are no slips to be issued.
2023 RRIF Payments
Many of you are at RRIF payment age. Olympia Trust would have contacted you for the various decisions that needed to be made in this regard. We understand that they have now processed both cash and IK payments however we have not yet received the formal paperwork/instruction from them. We expect it within the next few weeks. Any questions related to your RRSP, RRIF account and/or any RRIF payment calculation should go directly to Olympia Trust.
In Closing
We are hopeful that 2024 will bring a more positive result. We will be in touch when that happens.