Transfer of Bluenose Trust Assets Completed

Nova Scotia's sailing ambassador will sail on smooth waters now that the transfer of assets from the Bluenose II Preservation Trust Society is complete.

Premier Darrell Dexter announced today, July 23, that the trust's assets were received by the Schooner Bluenose Foundation.

"The province has worked diligently with the trust to complete the transfer and I am pleased to say that has taken place,” said Premier Dexter. "Bluenose II holds a special place in the hearts of every Nova Scotian and every visitor who has walked on her decks and experienced the thrill of being on board when she's under full sail."

"The trust's assets will ensure her legacy as a living link to our proud seafaring and shipbuilding heritage is protected."

The transfer includes:

• more than $540,000 in cash
• title to a building in historic downtown Lunenburg which houses space leased to two commercial operations and the storefront previously operated by the trust
• inventory in the Lunenburg storefront
• transfer of intellectual property rights held by the trust

"I want to thank the members of the Bluenose II Preservation Trust Society for their contributions to the legacy of Bluenose II," said Economic and Rural Development and Tourism Minister Percy Paris. "Everyone who donated to the trust can look forward to its assets continuing to benefit the future operations of this provincial and Canadian icon."

The province and the trust announced a tentative agreement in December 2010 and have worked to iron out details to finalize the transfer of assets.

"I want to thank everyone who has worked so hard to make this possible," said Communities, Culture and Heritage Minister Leonard Preyra. "The Bluenose legacy is part of our identity as Nova Scotians and with the transfer now completed that legacy will have an even stronger future."

The foundation is exploring options for the Lunenburg storefront, previously operated by the trust and expects to announce details about that in the near future.

The Bluenose II is undergoing a restoration on the Lunenburg waterfront attracting world-wide attention and is expected to return to sailing in the summer of 2013. More information about Bluenose II is available at www.bluenose.novascotia.ca.