Goat Banking – Investor Registration

This Agreement is entered into on this date, 07/01/2025, by and between:

Canadian Black Farmers Association
Address: 36191 Hartley Road, Mission, BC
Email: info@canadianblackfarmers.ca

AND

WHEREAS the Canadian Black Farmers Association operates the Goat Banking Program, a community-based initiative that allows individuals to invest in and co-own goats raised on Canadian Black Farmers Association-managed farms, both parties agree to the following:

1. Program Participation
   • The Participant agrees to join the Goat Banking Program and invest in shared goat ownership.
   • Initial Investment: $1,000 CAD grants the Participant shared ownership of one female goat (Doe).
   • Ongoing Participation: A $1,000 CAD renewal fee is due after two (2) years and every subsequent two years to remain in the program. Renewal is based on program availability.
   • Goat Management: The goat will be housed, fed, bred, and cared for by the Canadian Black Farmers Association at one of its designated farm locations across Canada (currently in British Columbia). Please note that it costs a minimum of $2.50 to feed each goat per day.
   • Membership: Participant must be a member in good standing of Canadian Black Farmers Association.
   • This program is subsidized 2/3 by Canadian Black Farmers Association in order to create an opportunity for the community to participate in agriculture.
2. Profit-Sharing Model
   The Participant and the Canadian Black Farmers Association agree to the following offspring ownership model:

   Equal Share Model – Offspring from each kidding is split equally.

   Offspring may be:

   • Retained to increase herd share (if permitted)
   • Sold, with profits distributed accordingly
   • Raised to maturity for shared sale proceedsThe Canadian Black Farmers Association will deduct 20% of sale proceeds to cover operational expenses (feed, labor, care).
3. Farm Responsibilities
   The Canadian Black Farmers Association agrees to:
   • Maintain high standards of animal welfare
   • Manage all breeding and veterinary care
   • Keep transparent records of health, kidding, and sales
   • Communicate quarterly updates to Participants
4. Participant Benefits
   Participants shall receive:
   • A unique goat ID and access to health/kidding reports
   • Invitations to workshops and on-farm educational opportunities
   • Eligibility to scale up participation by reinvesting profits
   • Optional farm visits (by appointment)
5. Risk Disclosure
   The Canadian Black Farmers Association will carry livestock insurance but cannot guarantee
   profits due to natural variables such as disease, fertility rates, or market shifts. Participation in the program involves agricultural risks and is made with the understanding that outcomes may vary. Canadian Black Farmers Association assures livestock replacement in the case of death of your goat banking goat(s). 
6. Term and Exit
   This Agreement is valid for a term of two (2) years, renewable upon payment of the continuation fee.The Participant may:
   • Withdraw by transferring ownership or selling the share back to the Canadian Black Farmers Association.
   • Continue participation by renewing the agreement before expiry. Renewal is based on program availability, such as farm herd capacity.
   • Participant must notify in writing Canadian Black Farmers Association 6 months before the end of their term if they plan to sell any of their goats or close their account and cash out.
   • Canadian Black Farmers Association agrees to pay Participant their portion from any sales or closed accounts within 10 business days of the end of the term.
7. Liability Waiver and Indemnification
   The Participant understands and agrees that participation in the Goat Banking Program involves inherent agricultural and market risks. By signing this Agreement, the Participant voluntarily assumes all risks associated with the program and acknowledges the following:
   • The Canadian Black Farmers Association, its directors, officers, employees, volunteers, partner farms, and affiliated organizations shall not be held liable for any claims, damages, losses, or injuries, financial or otherwise, arising from participation in the program.
   • The Participant hereby waives any right to bring legal action or claim against the
     Canadian Black Farmers Association or any of its affiliates for any reason related to their participation, including but not limited to loss of livestock, reduced profits, program changes, or dissatisfaction with program outcomes.
   • The Participant agrees to indemnify and hold harmless the Canadian Black Farmers Association, its partner farms, directors, officers, employees, and contractors from any third-party claims arising from their involvement in the program.
   • This waiver is binding to the fullest extent permitted by law Canada wide and does not apply in cases of gross negligence or unlawful acts by the Canadian Black Farmers Association.
8. Confidentiality
   The Participant agrees that all details of the Goat Banking Program, including but not limited to this contract, operational models, profit-sharing structures, goat care protocols, financial projections, and any proprietary information disclosed by the Canadian Black Farmers Association, are confidential and shall not be shared, distributed, or disclosed to any third party without prior written consent from the Canadian Black Farmers Association. This obligation of confidentiality shall survive the termination or expiration of this Agreement.
9. General Provisions
   • Both parties agree to uphold ethical and transparent business practices.
   • Disputes shall be resolved in good faith through mediation or arbitration.
   • Canadian Black Farmers Association reserves the right to change the participant fees for entry and renewal into the program at any time.
   • This Agreement is governed by the laws of Canada.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement: