A spokesman for the Valley Funeral Home Co-operative says a cease trade order from the Nova Scotia Securities Commission is just a paperwork problem. Sept. 6, the commission issued a press release saying the company had “violated Nova Scotia securities laws by not filing continuous disclosure documents.”
Earl Lantz confirmed the co-op is in the process of dissolving and the funeral home on Coldbrook Village Park Drive is being sold.
“They don’t have their information up to date,” the former co-op chairman said.
“It was published in the (Royal) Gazette May the 22nd that the co-op was dissolved.”
He said the membership voted to sell in April and advertisements required by the province’s Co-operative Associations Act ran in newspapers in June and July.
“We couldn’t keep going and make money so we had to decide what we were going to do,” he said. With the coming sale, “shareholders will all get appropriate value.”
Lantz is not concerned about the cease trading order.
“It’s just a lag in communications.”