The company's president Brad Pallister says they have sold more than 55-million Five of Diamonds lures since the company launched in 1929. Pallister's great-grandfather Len Thompson began selling his "fishing spoon" design as a part-time business in 1929 before opening up a factory in Abernathy, Sask. in 1945. In 1959, the company relocated to Lacombe where they continue to operate as a family-run business. At the unveiling on Friday, Pallister told the crowd the hook and lure were made in Lacombe after businesses in Red Deer and Calgary turned down the large-scale monument project. "They were like 'Oh no, we can't do that' or 'It's going to be expensive.' So we just went to the local welding shop up the road and they said 'Oh yeah, we can do that. No problem.'"