News Release

For Immediate Release
January 18, 2005

Let’s Schedule that Meeting on the Bras d’Or

Whycocomagh Bay, NS –– Rodger Cuzner, MP for Cape Breton–Canso on behalf of the Honourable Joseph McGuire, Minister for the Atlantic Canada Opportunities Agency (ACOA) and Enterprise Cape Breton Corporation (ECBC), announced today that ECBC will commit $500,000 towards the development of Keltic Quay, a four-star conference and tourist facility located in the village of Whycocomagh, on Whycocomagh Bay.

“This combination accommodation and conference centre represents a significant investment in the community that will result in increased spin-off revenues to local businesses, as well as creating full and part-time jobs,” says Mr. Cuzner. “Versatile facilities, such as Keltic Quay, capture large markets creating spin-offs in the local area while growing the Island’s economy.”

Keltic Quay, slated to open in late spring 2005, features six two-unit,
four-star rated cabins, each with either one or two bedrooms, four-piece bath, a kitchen, and a greatroom with fireplace – carefully designed to offer guests luxurious comfort. Each cabin has a west-facing view overlooking Whycocomagh Bay, where guests are sure to enjoy the Bras d’Or’s spectacular sunsets from the privacy of their furnished verandahs.

The brainchild of Steve Smith and John Lynn, both seasoned entrepreneurs and businessmen, Keltic Quay also offers a comfortable lodge with full meeting facilities equipped with state-of-the-art electronics, for small to mid-size corporate and not-for-profit groups. Full food services are available, and for relaxation, a spacious greatroom offers a private bar, pool table, large screen television, card tables and other amenities to enable guests to relax once the day’s business is done. The lodge’s large verandah overlooking the bay has plenty of Adirondack chairs to ensure everyone can enjoy the stunning view. The resort’s waterfront is finished with white quartz rock, while a bayfront walkway provides panoramic views and opportunities for leisurely strolls.

“This facility is targeting the corporate market and will attract visitors by offering high-end accommodations and meeting facilities in a spectacular setting,” say Steve Smith and John Lynn of Lynnsmith Holdings Limited, Keltic Quay’s parent company. “We are already working with local businesses to create opportunities that allow them to be part of the food service operation and other value-added services for the resort. We are excited about the new revenues and employment Keltic Quay will bring to the community and the region.”

The total cost of this development is projected at $1,464,000. ECBC will provide a repayable contribution of $500,000 through the ACOA’s Business Development Program.

Enterprise Cape Breton Corporation offers programs in support of economic development initiatives and is responsible for delivering ACOA's programs on Cape Breton Island and in the Mulgrave area.

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FOR BROADCAST USE ONLY:

RODGER CUZNER, MP FOR CAPE BRETON-CANSO ANNOUNCED TODAY THAT ENTERPRISE CAPE BRETON CORPORATION WILL MAKE A REPAYABLE CONTRIBUTION OF $500,000 TOWARDS THE DEVELOPMENT OF KELTIC QUAY, A NEW FOUR-STAR, CONFERENCE AND TOURIST FACILITY IN THE VILLAGE OF WHYCOCOMAGH.

THE BRAINCHILD OF NOVA SCOTIAN BUSINESSESMEN STEVE SMITH AND JOHN LYNN, KELTIC QUAY WILL CONSIST OF SIX LUXURY,
TWO-UNIT COTTAGES AND A CENTRAL LODGE THAT WILL OFFER MEETING AND CONFERENCE SPACE IN A STATE-OF-THE-ART BOARDROOM FOR SMALL TO MID-SIZE CORPORATE AND NOT FOR PROFIT GROUPS.

“THIS COMBINATION ACCOMMODATION AND CONFERENCE CENTRE REPRESENTS A SIGNIFICANT INVESTMENT IN THE COMMUNITY THAT WILL RESULT IN INCREASED SPIN-OFF REVENUES TO LOCAL BUSINESSES, AS WELL AS CREATING BOTH FULL AND PART-TIME JOBS” SAYS MR. CUZNER.

THE TOTAL COST OF THIS PROJECT IS $1,464,000. ECBC WILL PROVIDE A REPAYABLE CONTRIBUTION OF $500,000.

FOR ADDITIONAL INFORMATION CONTACT:

Valérie Poulin
Director of Communications
Office of the Honourable Joseph McGuire
Minister of the Atlantic Canada Opportunities Agency
(613) 941-7241

Office of Rodger Cuzner
MP Cape Breton-Canso
(902) 842-9763

John Lynn
President & COO, Lynnsmith Holdings Ltd.
(902) 928-1500

D.A. Landry
Communications, ECBC
(902) 564-3617