Winnipeg Free Press By: The Canadian Press
Last Modified: 9:19 AM CST Monday, Jan. 25, 2021
HALIFAX - A billion-dollar deal that marks the single biggest investment in Canada s seafood industry by an Indigenous group was finalized on Monday, with one First Nation s chief calling it a significant achievement for the Mi kmaq.
HALIFAX - A billion-dollar deal that marks the single biggest investment in Canada s seafood industry by an Indigenous group was finalized on Monday, with one First Nation s chief calling it a significant achievement for the Mi kmaq.
Vancouver-based Premium Brands Holdings Corp. and a coalition of First Nations in Atlantic Canada have each acquired half ownership of Clearwater through a new partnership, FNC Holdings Ltd., at a price of $8.25 a share.
The $1-billion transaction, including debt, is expected to see the Mi kmaq First Nations partnership hold Clearwater s Canadian fishing licences.
Membertou First Nation Chief Terry Paul said the deal will transform Indigenous participation in the commercial fishing sector. This is a significant achievement for the Mi kmaq, he said in a statement. This collective investment by First Nations in Clearwater represents the single largest investment in the seafood industry by any Indigenous group in Canada.
The partnership, which includes Membertou, Miawpukek, Sipekne katik, We koqma q, Potlotek, Pictou Landing and Paqtnkek communities, will provide more opportunities for Indigenous Peoples in the Atlantic region and bring prosperity to the communities, Paul added.
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Premium Brands, Indigenous groups complete $1-billion bid to buy Clearwater theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
HALIFAX — The Mi’kmaq chief behind a blockbuster deal to buy Atlantic Canada’s largest seafood firm says it will create wealth for generations, though critics warn it could also reignite tensions . . .