CAMBRIDGE BAY, NU, Feb. 10, 2015 /CNW Telbec/ - Mr. David Omilgoitok, President of Kitikmeot Corporation (KC), and Mr. William (Bill) Lyall, President of Nunavut Sealink and Supply Inc. (NSSI), are pleased to announce that KC has joined NSSI to become a shareholder and partner in the Nunavut-based maritime carrier. With its acquisition of ownership interest in NSSI, KC becomes the last regional development corporation to join NSSI, following Sakku Investments and Qikiqtaaluk Corporation, who joined the partnership in 2013.
KC's investments in NSSI provide Kitikmeot Corporation profit sharing and a voting board position in the leading sealift service provider in Nunavut. For KC, this is in line with its main objective to become a major contributor to all segments of a viable economy, not only in the Kitikmeot region but also in Nunavut as a whole. In a statement, Mr. Omilgoitok said, "Our investments are critical to providing our Kitikmeot beneficiaries a role in the growing Nunavut economy. Strong investments and growing returns result in Kitikmeot Corporation having the ability to provide dividends to our Shareholder, the Kitikmeot Inuit Association".
NSSI Board Members agree that Nunavut continues to be positioned for rapid economic and employment growth, due, in part, to the remarkable potential for natural resources that the Nunavut offers. The addition of KC to the NSSI partnership was also hailed by Mr. Lyall, who said, "The partners of NSSI welcome Kitikmeot Corporation to the ownership group and we look forward to working co-operatively to expand our common business and social interests." He adds, "By further enhancing Inuit ownership of NSSI, this helps to ensure ongoing economic benefits to the people of Nunavut".
Arctic Co-operatives Limited (Arctic Co-ops) is a service federation owned by 31 Independent member-owned Co-operatives in Nunavut and the Northwest Territories. Co-operatives in Nunavut represent the interests of thousands of local Inuit members, and provide an important source of income for hundreds of Nunavut families through employment, the purchase of arts and crafts, furs and other economic activities. Arctic Co-ops' mission is to be the vehicle for service to, and cooperation amongst, the local Independent Co-operatives, providing leadership and expertise to develop and safeguard the ownership participation of community members in local businesses and commerce, for these to maintain control over their own destiny.
Desgagnés Transarctik Inc. (DTI), a Subsidiary of Groupe Desgagnés Inc., is a maritime shipping company with vast expertise in Arctic Sealift operations. DTI deploys specialized and dedicated human and material resources, to manage the Arctic Resupply operations and related services. It applies modern heavy-lift, ice-class cargo ships to support NSSI's growing cargo volumes, and ensures best efficiency and safety levels of operational performance that meets or exceeds its clients' expectation.
Kitikmeot Corporation (KC) is the business arm of the Kitikmeot Inuit Association and is responsible for developing business opportunities that build an economic base in the Kitikmeot region. KC has established subsidiaries and joint ventures in a range of sectors, including mining, mineral exploration, property development and management, medivac services, communications technology, travel services, medical boarding homes, and now sealift.
Nunavut Sealink and Supply Inc. (NSSI) is a proud leader in the Arctic Sealift industry, and a partnership initially formed between Arctic Co-ops and Desgagnés Transarctik in 2000, to provide quality services to Nunavut sealift users. Its modern fleet of heavy-lift, large-tonnage vessels provides service to Nunavut communities, government, individuals, business and mining companies in the entire Nunavut Territory. NSSI has a long history of successful operations in the Canadian Arctic, delivering cargo of all types economically, safely and reliably.
Qikiqtaaluk Corporation (QC) is a wholly Inuit owned birthright development corporation created by the Baffin Region Inuit Association (now called the Qikiqtani Inuit Association). QC's purpose is to provide direct employment and financial opportunities for Inuit within and outside the Qikiqtani region. QC aims to become a major contributor to all segments of the Nunavut economy. By balancing tradition with innovation, QC strives to improve the social and economic well-being of all people in the Qikiqtani region by investing in or creating sound financial opportunities.
Sakku Investments Corp. (Sakku) is a for-profit organization owned by the Kivalliq Inuit Association (KIA). Under the Nunavut Land Claim Agreement, KIA is a designated Inuit organization with significant responsibilities for claim implementation, with Sakku serving as its 'economic arm' and deemed an Inuit Birthright Corporation. The Mission of Sakku is to build a viable and healthy economy for the Inuit of the Kivalliq region. Since its incorporation in 1989, Sakku has met its Mission primarily through partnership and technology transfers with other corporations.
SOURCE Nunavut Sealink and Supply Inc. (NSSI)
For further information: Arctic Co-operatives Limited, Duane Wilson, VP, Merchandising & Logistics, Toll-Free: 1-800-787-0559, Email: DWilson@Arctic.Coop, Website: www.Arctic.Coop; Kitikmeot Corporation, John Stevenson, COO, Phone: 1-867-983-2200, Email: email@example.com, Website: www.kitikmeotcorp.ca; Nunavut Sealink and Supply (NSSI), C/O Desgagnés Transarctik Inc., Managing Partner, Waguih Rayes, General Manager, Toll Free: 1-866-732-5438, Email: firstname.lastname@example.org, Website: www.arcticsealift.com