5. Investment Shares

Neechi Foods Co-Op Ltd. is requesting authorization to offer a new class of Investment Shares to the general public in the spring of 2015. It would be primarily geared to social purpose investors. If you would like to be informed of this potential Share Offering please leave your contact information at neechifoods@shaw.ca or at Neechi Commons, 865 Main St. Winnipeg, MB, R2W 3N9.


Here are excerpts from the press release announcement of Neechi’s first public share offering:

PRESS RELEASE – March 8, 2012:

An inner-city cooperative is inviting the general public to buy investment shares as a way of promoting “economic healing”. Today Neechi Foods Co-Op launched its first Investment Share Offering. The purpose of the share offering is to help raise capital needed to complete the development of Neechi Commons Community Business Complex at 865 Main St., Winnipeg, Manitoba. The Investment Shares are being sold to the general public, marking the first time that any cooperative in Manitoba has offered shares to non-members as well as to members. Residents of Manitoba will be eligible for the Province’s Community Enterprise Development Tax Credit.

Neechi is hoping to tap into the growing public interest in socially responsible investment (SRI), whereby monetary returns are balanced with social and environmental benefits. Neechi’s president, Louise Champagne, emphasized that, “investing in Neechi Commons is not about chasing speculative cash gains”. “Instead, it is about investing in a down-to-earth business that projects large community benefits alongside relatively modest financial returns. It is hoped that Neechi Commons will bring badly needed revitalization to Main Street north of the CPR tracks and to adjoining north-end neighbourhoods. It will feature a neighbourhood supermarket, a fruit and vegetable courtyard and farmers’ market, cafeteria restaurant, specialty boutiques, a bakery and an Aboriginal arts centre. About 60 jobs will be created, drawing heavily on local area residents in a part of town that has one of the highest urban unemployment rates in Canada. Many of the jobs will go to youth. “It is high time that dignified and meaningful jobs start replacing street gangs”, says Champagne. “Economic balance and self-reliance in Aboriginal communities have been undermined for a very long time. We hope that Neechi Commons will be part of the economic healing that is needed to support personal and social healing.”

Neechi Foods Co-op is incorporated as a worker cooperative, owned and operated by its staff.  A cooperative business model is in line with the primary values of sharing and community that anchored Aboriginal economies for thousands of years. The worker coop model gives people the opportunity to be in charge of their economic destinies as business owners, as well as employees. Neechi’s existing store at 325 Dufferin Avenue has been in operation for over 22 years. It is particularly renowned for its bannock, wild blueberries and smiles.

The Neechi Commons facility is a make-over and expansion of the old California Fruit Market premises. It includes geo-thermal heating and cooling and has been awarded Green Globes certification for its high environmental standards.  “Neechi” (often spelled “Niji”) is an Ojibwa and Cree term for friend, or sister or brother.


One response to “5. Investment Shares

  1. Neecha

    Love it!! I’m in Ottawa and wish you were here too!!
    Meegwetch :)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s