BC Investors In Nuagri, Inc. Eligible To Receive A Refundable Tax Credit Equal To 30% Of Their Investment Amount
(VANCOUVER, BC, Canada) – July 20, 2012.
Chris Gielnik, President of NuAgri, Inc., today announced he has been advised by the Ministry of Jobs, Tourism and Innovation of British Columbia that NuAgri Inc. meets the necessary criteria to qualify as an Eligible Business Corporation (“EBC”) under the Small Business Venture Capital Act.
The EBC program is designed to be a ‘direct’ approach for BC investors seeking private investments in the growth of up and coming BC companies. As an approved EBC, NuAgri is authorized to raise up to $5 million equity capital from July 6, 2012 to March 1, 2013.
Investments in EBCs by BC residents and corporations are made without guarantee of return and must be held for at least 5 years. However, BC investors are eligible to receive a refundable tax credit equal to 30% of their investment amount, up to a maximum of $60,000 in credits per taxation year. Excess credits may be carried forward and used in any of the four subsequent taxation years.
Currently, NuAgri is raising capital to assist in the completion of its BioDome demonstration facility in Surrey, BC; and the introduction of its products to market. Phase III of the project, includes installation of the vertical growing columns (NuStax Growing System) and automated systems (water, nutrient, air, light). Phase IV will populate the BioDome with a polyculture of various species. When complete the BioDome will offer clients an opportunity to observe a more complete and sustainable food growing system.
To follow the progress of the BioDome project, please visit: http://nuagri.com/building-a-biodome/
All investor inquiries can be directed to Stuart Brazier, by phone 778.881.6190, or email firstname.lastname@example.org.