The Limestone Boat Company announced that it has implemented cost savings measures, including the layoff of approximately 27 employees and the temporary curtailment of operations at its manufacturing facility in St. Stephen, New Brunswick. The Company has made these difficult and strategic decisions to preserve its sustainability in the interests of all of its stakeholders.

The Company is actively pursuing liquidity options to strengthen its working capital, including from its royalty financing partner. Limestone remains committed to continuing its long-term operations in St. Stephen, NB.

The Company is targeting resuming production later this year, subject to receiving financing.