Golden Opportunities Invests $2.8 Million In Canada’s Largest Producer of Potassium Sulphate
Release Date: June 3, 2004
Golden Opportunities Fund Inc. is pleased to announce an investment of $2.8 million into Big Quill Resources Inc., Canada’s largest producer of potassium sulphate. The investment in Class A Shares will result in the Fund taking a majority interest in the Wynyard company. Management will implement an aggressive capital expansion/modernization program which will double its granulation production capacity and allow it to expand into new product lines adding a broader customer base.
As the leading North American manufacturer of 99.8% high purity potassium sulphate, Big Quill’s products are used in high quality fertilizers and in numerous industrial applications, for example, as an additive in drilling mud for oil and natural gas exploration and in the manufacturing of gypsum board and plaster products. Grant Kook, CEO/Chairman of Golden Opportunities Fund states “We are excited to become the largest shareholder in Big Quill and assist in a major capital program. Supporting the expansion and modernization of an export driven company that is jointly owned by local residents, employees, and other institutional shareholders in rural Saskatchewan is an ideal investment for Golden Opportunities Fund and our 8,000 shareholders.”
CEO of Big Quill Resources Inc., Roger Nupdal, indicates “We are very pleased to have Golden Opportunities come forward with a major equity investment and a key voice on the board of directors. It will allow our management team to complete a timely and financially rewarding growth strategy. The company is profitable with sales having increased by approximately 3,000 tonnes over the previous year. This capital program will allow us to maximize the operating efficiency of our manufacturing processes and diversify our product mix. The company will face some exciting times in the years ahead as a result of this investment.”
Golden Opportunities Fund Inc. is Saskatchewan’s first and largest Provincial Labour-sponsored Fund, having raised $45 million in share capital to date from approximately 8,000 shareholders. The company has completed 42 investment transactions in 30 different Saskatchewan growth companies across a variety of industry sectors for diversification.
For additional information please contact Mr. Grant Kook, CEO/Chairman of the Fund at (306) 652-5557 or Mr. Roger Nupdal, CEO of Bill Quill Resources at (306) 554-3322.
Saskatchewan Financial Services Commission has neither approved nor disapproved the information contained herein.