Limited Partnerships

In order to move with the quick pace of business, QXMC has developed a series of Limited Partnerships (LPs) to assist with its operations. All of which is managed by the QXMC Board of Directors (BoD).

The Limited Partnerships of QXMC

Klahoose Resort Limited Partnership (KRLP)

Looks after things related to service industry elements of our business. Camp operations – food services, cleaning, operations and maintenance. Service and tourism industry are housed in this LP. It also has a component which dealt with the research that went into the marina development in the Squirrel Cove Bay.

Klahoose Forestry Limited Partnership (KFLP)

All of the business that deals with forestry is categorized into this LP. Any of the costs or expenditures that assist with forestry operations such as logging, road building, fuel sales etc. is handled solely by the revenues and investments that KFLP has created and maintained.

Details of Duties

KFLP is in charge of choosing a contractor and creating an agreement that outlines revenue sharing, skills and labour, and logistics (costs) of operations. Once that has been established KFLP brings the wood to the markets for sale. It then takes its portions of revenue to either re-invest in the forestry operations for expansion or have it sit in the bank for a later date or the revenues can even be reinvested in another one of the Limited Partnerships, too.

Klahoose Shellfish Limited Partnership

Looks after all our shellfish operation. Owns Argosy sea farms, which is the company in charge of the Geoduck operation and tenure.

Klahoose Forestry II Limited Partnership

The partnership that was developed with the Klahoose First Nation and the Cortes Community Co-op.

0886719 BC Ltd. (SR&ED co.)

A research and development company. As of right now it focuses on the Geoduck license and tenure. However, this company is not strictly dedicated to the research of the Geoduck, but can be used for any kind of research in any area where QXMC feels the need.

Klahoose Investments Inc.

All of the investment transactions for all of the partnerships is conducted through Klahoose Investments Inc.

The Limited Partnership Objective

Each limited partnership was aimed at working with specific categories of economic development and growth. For the most part you can gather a good idea of what area the Limited Partnerships operated in by the name. In addition to keeping pace with the business world it also creates a silo around each limited partnership. Most times when things are described as being placed in siloes it is to a negative effect, however, in this case it works in QXMC’s favour.

When you place each business venture into a silo it insulates liabilities from one company to another. For a theoretical example let’s say that the Shellfish Limited Partnership (KSLP) has a large loss from being repetitively beaten by red tides. It ends up killing off most of the organisms and creates a major loss on that year’s revenue for the shellfish partnership. Since the Shellfish partnership only specifically deals with shellfish there is no way that it can have a negative effect on the forestry limited partnership (KFLP).

It all comes down to protection from liability, which is a risk that is taken into account from the beginning of each limited partnership.