2 Chrysalis Acquires Maximum Yield Publications Inc. NA NA IMO - Chrysalis Acquisitions Partners Inc., a Calgary-based private equity firm, announced the successful acquisition of Maximum Yield Publications Inc. by Maximum Yield Inc., a newly formed Alberta-based company owned by Chrysalis Acquisition Fund Limited Partners, the Chrysalis’ management team and investors introduced by Chrysalis. Headquartered in Nanaimo, Maximum Yield owns multiple market leading indoor gardening publications distributed to various geographic markets, including the United States, Canada, United Kingdom, Europe, Australia and New Zealand. In addition, Maximum Yield has managed, staged and hosted popular indoor gardening trade shows in various U.S., Australian and Canadian cities since 2001. Maximum Yield has successfully built a dominant media channel whereby Maximum Yield’s brand effectively connects indoor gardening and hydroponic product manufacturers, service providers, retailers and industry experts directly with indoor gardening hobbyists, green house operators and licensed distributors. “We are delighted to transfer our ownership interest and the guidance of Maximum Yield’s highly seasoned and talented operating management team to Chrysalis
NEWS UPDATE and its investment partners,” commented Don Moores, CoOwner of Maximum Yield. “With the added benefit of Chrysalis’ extensive business experience and resources, we believe that Maximum Yield will continue to build on its solid foundation of success established during the past 18 years and capitalize on the tremendous growth opportunities represented by the robust international indoor gardening market and dynamic hydroponic technologies and applications”, added Jim Jesson, Co-Owner of Maximum Yield.
Surplus Ferry Sold to Local BC Company Victoria PORT ALBERNI - BC Ferries announced the company has sold the 52 year-old MV Tenaka to Lady Rose Marine Services of Port Alberni, BC following a competitive bidding process. The 43-metre MV Tenaka was built in 1964 at Victoria Machinery Depot, and accommodates 24 vehicles and 100 passengers and crew. The vessel primarily serviced the Quadra Island – Cortes Island route and last sailed in the fleet in December of 2014. Lady Rose Marine Services will take possession of the vessel in mid-May and after they conduct a drydock and maintenance period, they intend to put the vessel into service by the end of this year, providing passenger and freight service from the Alberni Inlet. “When retiring vessels from our
fleet, our first preference is always to find a buyer who will use the ship for continued commercial operation so we are pleased that the MV Tenaka will continue to operate right here in British Columbia,” said Mark Wilson, BC Ferries’ Vice President of Engineering. “Our company has been in business for over 70 years providing passenger and freight service from the Alberni Inlet to Bamfield and Ucluelet on the west coast of Vancouver Island,” said Mike Surrell, owner of Lady Rose Marine Services. “With the acquisition of the MV Tenaka, we will continue to be the biggest tourism operator in Port Alberni employing local staff and supporting local businesses.” BC Ferries cannot disclose the price the company received for the M V Tenaka as two other ferries will be retired soon and offered for sale. The company needs to protect the competitive bid processes for those sales and maximize the price received for those ships. Under contract to the Province of British Columbia, BC Ferries is the service provider and is responsible for the delivery of safe, efficient and dependable ferry service along coastal British Columbia.
Service to Abbotsford and Victoria COMOX VALLEY - Island Express Air announced a new daily service to Abbotsford and Victoria
MAY 2016
from the Comox Valley Airport starting May 16. The airline will also offer flights to Boundary Bay (Delta) in the Lower Mainland, with service to Powell River available for an add-on fare. “We are pleased to offer our passengers the option of flying to Victoria or the Lower Mainland from the Comox Valley Airport,” said YQQ CEO Fred Bigelow. “This is a niche market that has been underserved and we are pleased that Island Express Air has seized the opportunity to cater to those passengers who are looking for another way to access these destinations. We’ve also had a fair number of requests for service to Powell River and this new service will provide that option for those on the Sunshine Coast who wish to avoid the ferry crossing.” “If you are looking to do business in Victoria or in the Lower Mainland, Island Express Air can have you there and back in the same day. Our flight times have been built with the business traveller in mind but are also well suited to the leisure traveller who wants to avoid taking up half of their day driving or waiting for the ferry,” said Gerry Visser, owner of Island Express Air. “We offer a great product for those who value their time.” Most Comox flights will have at least one stop in Nanaimo or Victoria. As exact routing can change, passengers are encouraged to allow +/- 20 minutes for published flight times. The
recommended check-in time for all flights is 45 minutes prior, with a strict cut-off of 30 minutes prior to the scheduled flight time.
Ladysmith One of “Canada’s Greenest Employers” LADYSMITH – For the fifth year in a row, the Town of Ladysmith has been named one of “Canada’s Greenest Employers”. The award recognizes the Town’s leadership in community sustainability and the organization-wide commitment to reducing its environmental footprint. The “Canada’s Greenest Employers” Award is part of the Ca n ad a’s Top 100 E mployers competition conducted by Mediacorp Canada. The list of Green Employers award-winners is published on Earth Day – April 22 – in The Globe and Mail and online. Mediacorp cited several reasons for choosing Ladysmith for the award, including: The ongoing program of growing vegetables in former Town flower beds, and donating the crops to the Ladysmith Food Bank. The two electric charging stations the Town has installed in the community The Community Sustainability Vision and Sustainability Action Plan, and the fact that Ladysmith Council formally adopted the “Declaration of the Right to a Healthy Environment” and joined SEE NEWS UPDATE | PAGE 3