PEI Government Loans $2.8M to Seafood 2000 to Keep Lobster Processor Afloat

Deal Summary

The Prince Edward Island provincial government has provided a short‑term CAD 3.8 million (≈$2.8 million) loan to seafood processor Seafood 2000 Ltd. as part of a creditor protection arrangement, with an initial $355,000 disbursed and the remainder pending approval. The loan is intended to cover immediate cash‑flow needs, including payments to lobster fishermen, and will be repaid by the end of the fishing season.