Valley business seeks investors
© Hetaher Killen photo
Howard Selig, right, and Wade Russell, left, are hoping local investors will help them get growing this year. This Valley-based company is offering $50,000 in shares under the province’s Equity Tax Credit program
Howard Selig, of Valley Flaxflour Ltd., is looking to upgrade his facility and is hoping local investors will back him.
The Middleton based company is offering up $50,000 in shares under the province’s equity tax credit program. Selig started Valley Flaxflour Ltd out of his house in 1998 and has been gradually expanding his product line from flax flour to a complete line of gluten free mixes.
This year Selig says he wants to take the next step and ensure his operation is the first facility in Atlantic Canada to be certified as gluten-free. This move helps secure the company’s position as a processor and supplier of gluten free and wheat free custom milled ingredients and mixes. Over the next year Selig also plans to introduce eight new product lines that he has been developing with the Culinary Institute of Canada. Part of the money he hopes to raise by selling these shares will be used to update the company’s product branding and website. The shares will be sold under the province’s Equity Tax Credit, a program that provides investors with a 35 per cent credit towards the provincial taxes owed.
This program aims to assist small businesses and co-operatives access equity financing by offering investors a personal income tax credit. He hopes that new investors will see the value of supporting a home-grown Valley business.
Selig first came across the idea of milling flax while he was working as a registered dietician. He knew that many nursing homes and longterm care facilities were using flax seeds to help reduce the medications required for elderly residents.
He knew these patients would get more of the benefits of flax if it was milled, or used as flour in baking. While he was still employed as a dietician, he began grinding the flax into flour and creating a line of recipes that proved popular with his patients.
After he began working independently as a consultant, he realized flax flour would also benefit people with food sensitivities who require a gluten-free diet. Gluten is a protein found in wheat, barley, rye, malts and is often used as a food additive.
As a result, Selig started Valley Flax Flour to mill and package the flax flour to sell in a retail market. Later, as people became aware of the health benefits of adding flax to horse’s diets, Selig created a separate line of flax products for horses.
Expanded Product Line
A few years ago he expanded his product lines when he introduced a new line of pre-packaged gluten-free mixes for pancakes.
This year he hopes to expand his gluten free products through a new “Valley Kitchen” brand to offer eight new gluten free mixes for breakfast cereals, snack bars, scones, deep-fry batter, breading, pie dough, brownies and gingerbread.
For more information on Valley Flaxflour, visit www.flaxflour.com; or find them on Facebook.