P.E.I. Plant Closure -Lost Jobs & Gov$$$

The company's troubles have come about because the Bank of Nova Scotia has called in a $15.5-million loan backed by the P.E.I. government.

That puts the government's investment into the company at more than $30 million. It includes $7 million worth of preferred shares – now worthless – a $12 million guaranteed line of credit, and the $15.5 million bank loan.

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1,200 may lose jobs in P.E.I. plant closure

Note: 1,200 may lose jobs in ...