Summary
The RCMP was investigating potential "criminal misconduct" in the management of Crocus. Since it was the largest venture capital fund in the province with close ties to the most important economic development projects of the day, the most dynamic entrepreneurs and the provincial government which provided a tax credit to investors and sometimes co-invested in Crocus projects, the process couldn't help but cause a chill.
It's mostly coincidental -- the spike in oil and potash prices helped -- but in the time it took to settle the civil suit and for the RCMP to complete its Crocus investigation, Saskatchewan sprinted ahead of Manitoba in economic growth rate and became a "have" province.By comparison, the most recent Crocus quarterly receiver's report (the newest one is due out today) pegs the value of the shares at $6.21. When Crocus ceased trading in December 2004, they were valued at $10.45. That's a difference of $4.24 a share. There are about 14.3 million shares outstanding for a grand total of $60.6 million in lost value since the market for the shares shut down.See the full content of this document
Extract
Crocus Had Lasting Impact
Martin Cash
Despite the sinister suggestions that fuelled that Crocus rhetoric over the years, Wednesday's announcement that the RCMP found no criminal wrong-doing was not surprising.But the fact there was ...See the full content of this document
Sponsored links
