2008 Frog’s Breath Charity Golf Tournament and Social cancelled

The Frog’s Breath Foundation announced today its decision to cancel the 2008 Frog’s Breath Charity Golf Tournament and Social.

The Foundation’s President, Sarah Grant, explained the reason for the decision. “Many of our sponsors also have business relationships with Grant Forest Products. We rely on our sponsors and Grant Forest Products to generate the funds we use in the Foundation for our charitable causes. The current downturn in the forestry sector has had a significant impact on both of them. Even though this is a temporary situation, it appears it will extend well into 2008 and perhaps even into 2009, and it is clear it would be inappropriate to create additional operating pressure on our partners by asking them for funding this year. As a result, and after much consideration, we have cancelled the 2008 Frog’s Breath Charity Golf Tournament and Social.”

On a positive note, the Foundation is fiscally strong, so it will continue to award funds from the small donation category. The funds for small donations are generated from the interest earned on the investments made into the Foundation to ensure its long-term viability. As a result, payment of the small donation funds does not create an added burden on their partners. Ms. Grant continued, “In fact, it is due to the overwhelming support we have received in the past from our sponsors and Grant Forest Products that the Foundation is in the position to award the small donations this year.” She added “As in past years, there will be two sessions of awards in 2008, with applications to close by January 31 for the first session and June 30 for the second.” In 2007, a record $220,750 was awarded through this program. Some past sponsors and participants continued to donate to the Frog’s Breath Foundation even though the 2007 event was also postponed. This program allowed the Foundation to return the money to charities right away.

The Frog’s Breath Foundation has donated or committed over $10 million into important infrastructure needs throughout Northeastern Ontario, ranging from hospital diagnosis and care equipment, sports and cultural organizations, patient care facilities, recreation centers and elder care facilities.

The Foundation’s founder, and Chairman and CEO of Grant Forest Products, Peter Grant Sr explained, “The decision to cancel the 2008 Frog’s Breath Charity Golf Tournament and Social was not taken lightly. Many of us in the forestry sector have made difficult decisions as a result of the catastrophic deterioration of the North American housing market, the high Canadian dollar, as well as high gas and power prices.

Peter Grant closed by thanking, on behalf of the Frog’s Breath Foundation and Grant Forest Products, all of those who have supported the Foundation in the past and asked them to keep Frog’s Breath in mind for 2009