Purely Canada Foods Corp

[TraderJoe]

yes, this is the company that tried to invoke "Force Majeure" on the Gluten Free oat contracts 2 years ago. They are a subsidiary of Above Foods, owned by the Kambeitz group .... there has been more than a few stories of bad dealings with that bunch, but this one is in the tens of millions owed to the oat growers... heard through the RUMOUR mill that they bounced employee paychecks last week and that they had offered the Gluten Free guys shares in the company to drop the lawsuit! LOL looks like that would have been a bad deal to take...

[biglentil]

When Ilta went under from what I understand the lentil deliveries got reimbursed in full, canary growers got a goose egg.

[iceman]

I believe kambeitz farms near Regina is/was apart of this group?

So does this make 3 or 4 publicly traded companies Lionel has brought to the market and blown them up?

Another smoke and mirrors job

Iceman Out

[shtferbrains]

Someone opened an account on twitter about the time this went bad and started posting this msg;

@LamaElly28641 ([url]https://x.com/LamaElly28641)?[/url]

Above food owns Purely Canada Foods. Bite Acquisition Corp owns Above. Smart Dine LLC owns Bite, black rock owns 56% of Smart Dine. Blackrock owns over 300k acres on the Regina Plains alone. Right under your noses

[furrowtickler]

Yup , connect the dots .
There should be a full investigation on what’s going on

[SASKFARMER]

The pages of company bankruptcy is a mile long.

[iceman]

The tell will be the grain commissions producer list.

or who isn’t on the list I should say.

Family and friends never make that list.

Iceman

[consuelo]

canada's reputation a being a reliable and trustworthy trading partner around the world has already been severely tarnished before this news. now add this to the pile and we got alot of work to do to get back our reputation.

[westernvicki]

History: January 30 1998 Bill C 26: An act to ammend the Canada grain Act..

The license and bond was to be replaced by voluntary short term insurance and used to support novel and niche traders of commodities.


Short term insurance is used successfully in the USA.


It was call the the SCRIP Special Crops Rural Incentive Program. It was promoted by the MA & Pa grain companies of which we were part of at the time. It would have enabled farmers to be protected and could have included many tradeable commodities in niche markets.


It was bankable.

[westernvicki]

Guess I’m old school but if I can’t deliver somewhere and pull the truck around front and get my cheque within 3 mins of dumping my grain, I don’t do business with them. I may be leaving money on the table but have heard of guys beating down the doors to get a cheque sometimes and it don’t sound like fun.

My input bill at the elevator is also a nice offset to grain I deliver in case the cheque printer don’t work…..

Hate to say, if we were all like you grain company margins would be extremely one sided, and very wide.

The special crop industry has brought competitors to the market that created both market diversity and competition for your commodity.

Today more than ever the FSU states sell cheaper and deliver in a fraction of time, we need diversity to give us marketing options.

Indeed the 1998 SCRIP plan should be rebirthed and demanded, but it will not be, because the same dumb ass farmers, associations and protective companies that defeated it would kill it all the same.

We get what we deserve.

[sumdumguy]

Vicki, is Canaryseed covered by the bond?

[westernvicki]

No canary seed was not covered under the bond.

I stand corrected, thank you; after the ILTA bankruptcy, producers lobbied for coverage, and Canary Seed was included.

In addition, the act was used to protect outstanding grain for a period of one year from the date of delivery, which was reduced to 120 days for all commodities or four months.