Photo courtesy of Heidi Spilchuk, Ituna News/A Squared Printing Company

The community of Ituna, Saskatchewan has enjoyed having a theatre for 80 years – but in 2025, the local institution went up for sale. When community members realized it was unlikely someone was going to buy and continue to run it, they knew they had to do something.

“The community developed a strong connection to theatre, so it was felt to be much more than just ‘another business.’” said co-op founding member, Peter Overduin.  “It was part of the soul of our region, and when it suddenly and unexpectedly showed up on the auction block, we knew we had to make the best effort possible to save it from closure, knowing that if it was lost, we would never get it back.”

The theatre’s auction listing gave only a 30-day window to put in a bid for the building, which concerned the group.

“How do we as a small, rural community purchase the theatre and maintain local ownership in such a short time?” Peter said.

The answer: start an investment co-operative.

With the help of Co-operatives First, they formed the Ituna Community Investment Co-op: a for-profit investment co-op that allowed people to buy shares in the business. By selling shares valued at between $50 and $1,000, the co-op raised enough money to purchase the theatre.

The for-profit investment structure gives people a feeling of ownership, stability, and the chance to someday receive dividends from their investment. But for now, they have the satisfaction of not only saving a local source of entertainment, but the chance to expand its mandate.

“We as a group, comprising folks from all ages and walks of life, are united in a fervent desire to transform the theatre from showing only movies, into a vibrant cultural arts hub,” Peter said, “with everything from birthday parties, gaming events, comedy, drama, music groups, First Nations, all contributing to revitalizing, not only the theatre, but also our local area.”

Co-operatives First was proud to help this group incorporate their co-operative to save this important local service.