Triple Five Energy enters Saskatchewan with major undertakings



    New economic development agreements to create dynamic new opportunities
    for Saskatchewan and First Nations

    SASKATOON, Feb. 13 /CNW/ - Triple Five Energy, a division of Triple Five
Worldwide Organization (Triple Five), today announced the signing of several
major economic development agreements with seven Saskatchewan First Nations
for the creation of new joint ventures in natural resource development
including oil, gas and uranium exploration. Negotiations took place with the
seven Chiefs and their Councils including English River First Nation,
Ahtahkakoop First Nation, Moosomin First Nation, Red Pheasant First Nation,
Saulteaux First Nation, Stoney Knoll First Nations and Sweetgrass First
Nation.
    The signing ceremony took place today at 11 a.m. at TCU Place Convention
Centre in Saskatoon. In attendance were Triple Five Chairman Nader Ghermezian,
several other Triple Five officials and 75 Saskatchewan chiefs attending the
Federation of Saskatchewan Indian Nations.
    "We are pleased to be able to enter into these agreements with
Saskatchewan First Nations," said Nader Ghermezian, chairman of Triple Five
headquartered in Edmonton, Alberta. "We believe that these undertakings by
Triple Five will be beneficial to the more than 140,000 First Nations members
in Saskatchewan and the Saskatchewan economy."
    A major agreement signed calls for a joint venture between the English
River First Nation (ERFN) and Triple Five for significant exploration and
development of uranium on the English River territorial lands at Slush Lake,
Saskatchewan, where some internationally-recognized uranium companies are
currently active. ERFN anticipates the joint venture with Triple Five will
result in the development of uranium resources within ERFN's Traditional
Territory. They further anticipate that it will result in economic benefits
necessary to assist their community needs in housing, education,
post-secondary education, employment training and infrastructure. The
agreement recognizes ERFN's determination to protect their interests in the
land, water resources, medicine and spiritual values in their Traditional
Territory.
    Mr. Ghermezian added, "We are proud to be involved in a province lead by
Premier Wall, a visionary and entrepreneurial premier who has encouraged and
given us great confidence in the long-term economic prosperity and political
stability of his Province."
    "We are also very happy that we have expanded our operations from Alberta
into Saskatchewan," continued Mr. Ghermezian. "We believe Saskatchewan, like
Alberta, will be a global economic leader in the natural resource sector for
many years to come."
    Triple Five has extensive involvement in the development of natural
resources in North America through Triple Five Energy as well as First Nuclear
Corporation that has been active in the uranium industry for the past
30 years.
    Triple Five has also signed agreements with several of the nations to
provide them with a Horizon Plus Prepaid Credit Card, another division of
Triple Five, replacing the former cheque system utilized by those nations to
distribute funds to their members. Rather than having to issue cheques, the
nations can now load a prepaid amount on a reloadable credit card and the
funds will then be distributed directly to members' accounts. Consequently,
the agreements have resulted in major cost savings for the nations in
accounting and distribution of funds to their members.
    Triple Five is also presently engaged in extensive real estate
development in Saskatchewan.

    About Triple Five

    Triple Five's activities encompass the development, management and
ownership of world-class ventures in many fields. These activities are diverse
and include major shopping centres, tourist destination resorts, office
buildings, engineering services, urban revitalization programs, recreation and
amusement parks, hotels, casino, residential developments, commercial and
industrial real estate, auto and industrial manufacturing, natural resource
development (oil, gas and minerals), technology, venture capital, banking and
financial services.
    Triple Five is best known worldwide for the creation of its mega projects
such as the world's first and second largest tourism, retail and entertainment
complexes - the world-renowned West Edmonton Mall in Canada and Mall of
America in the United States. These two projects attract over 60 million
visitors annually, more than Disneyland, the Grand Canyon and Universal
Studios combined. Triple Five develops, manages, owns and operates its
worldwide enterprises with offices located throughout the world.

    Additional comments from English River First Nation

    Triple Five and the Chief and Council of English River First Nation
(ERFN) today announced the signing of a joint venture for the exploration and
development of uranium resources on the Traditional Territory of ERFN in Slush
Lake, Saskatchewan. This business venture results from the initiative and
foresight of former ERFN Chief Archie Campbell and Council, as well as current
Chief Ralph Paul and Council.
    Chief Ralph Paul and the Council of ERFN are pleased with the support of
Saskatchewan Premier Brad Wall and several provincial ministers including
Energy and Resources Minister Bill Boyd, First Nations and Aboriginal Affairs
Minister June Draude, and Environment Ministers Nancy Heppner in the pursuit
of the protection of the lands and development of resources within the
Traditional Territory of ERFN.





For further information:

For further information: Sheryl Smith, Executive Assistant, Triple Five
Worldwide Organization of Canada, Cell: (780) 934-5220, Office: (780)
444-8100, E-mail: sheryl.smith@triplefive.com

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