Province Helps Rural Company

A Western Nova Scotia company is receiving a $1.85 million combined loan and loan guarantee from the province to help generate new sales.

CanJam Limited is a major exporter, with large markets in the Caribbean. It operates two fish processing plants on Cape Sable Island that employ 70 people and an international trading house in Burnside with a staff of 40.

"This company's continued operation is important to our economy, its employees and the rural communities in which they live," said Economic Development Minister Ernest Fage. "CanJam has a proven track record with almost $12 million in sales of value-added manufactured products for export from its plants on Cape Sable Island."

The province will provide the company with the short-term financial assistance in the form of a bank guarantee of up to $1 million and a repayable loan not to exceed $850,000.