Alberta Indigenous Opportunities Corporation Provides $103 Million Loan Guarantee to Facilitate Multi-generational Economic Benefits for Five First Nations and Métis Communities in Alberta

CALGARY, AB, July 27, 2023 /CNW/ - Alberta Indigenous Opportunities Corporation ("AIOC") is providing a $103 million loan guarantee for five Indigenous communities to acquire, collectively through a newly formed entity called Northern Lakeland Indigenous Alliance ("NLIA"), approximately 43% interest in the Access NGL Pipeline System ("Access NGL"), operated by Wolf Midstream Canada LP ("Wolf"), a leading Canadian owner and operator of midstream energy infrastructure in Western Canada, which is backed by Canada Pension Plan Investment Board (CPP Investments).

"AIOC continues to be a critical catalyst in driving high impact industry partnerships for Indigenous communities," says Chana Martineau, CEO of AIOC. "Each AIOC supported partnership is designed to provide prosperity and economic reconciliation for generations to come. Canadian corporations are increasingly valuing these partnerships with Indigenous communities, and we are honoured to facilitate these transformational transactions."

In July 2023, Wolf successfully commissioned a proprietary, market-scale natural gas liquids ("NGL") industrial system, with a capacity of approximately 70,000 barrels per day. The Access NGL pipeline assets associated with this transaction, connect Wolf's newly constructed, owned and operated NGL recovery facility near Mariana Lake to its NGL separation facility in Sturgeon County. The underlying business is supported by long-term commercial arrangements with major NGL customers and a 25-year NGL transportation agreement that will generate stable and meaningful income for NLIA and their respective Indigenous communities.

The five communities and leadership participating in this deal are: Buffalo Lake Métis Settlement (Chairman Stan Delorme), Kikino Métis Settlement (Councillor Lee Thom), Heart Lake First Nation #469 (Chief Curtis Monias), Saddle Lake Cree Nation #125 (Chief Terry Cardinal) and Whitefish Lake First Nation #128 (Chief Stan Houle). This transaction will provide these communities with steady, long-term revenue streams, as well as opportunities for reinvestment and capabilities to pursue additional profit-generating ventures. The revenues could also be invested into underfunded projects.

"Indigenous equity ownership in major infrastructure projects is a signal from industry and government of their commitment to economic reconciliation for Indigenous Peoples.

For First Nations and Metis Settlements involved in these types of partnerships it means improved quality of life and long-term economic stability and prosperity," says Tony Bagga, President and Director of NLIA.

"The AIOC model empowers Indigenous communities with funding and resources," says Honourable Rick Wilson, Minister of Indigenous Relations for the Government of Alberta. "Industry and Indigenous partners have seen what's possible through our recent transactions and are stepping up in big ways to support economic reconciliation in this province. With now more than $500 million in loan guarantees provided through the AIOC, we will only get bigger and better from here."

"Wolf is very pleased to be partnering with the NLIA with this new critical NGL transmission infrastructure investment in Alberta," says Bob Lock, President and CEO of Wolf. "In line with our company values and principles, this is a proud opportunity to build on our meaningful and enduring relationships with the communities where we operate."

"Since our initial investment in 2016, Wolf has made impressive strides in the Alberta midstream landscape and beyond," says Bruce Hogg, Managing Director, Head of Sustainable Energies, CPP Investments. "This partnership is an example of Wolf's commitment to creating long-term value, including in the communities in which they operate."

About Wolf

Based in Alberta, Wolf is a private company, backed by Canada Pension Plan Investment Board (CPP Investments). Wolf was formed in 2016 to focus on the acquisition and construction of innovative and sustainable midstream energy infrastructure assets in Western Canada.

About AIOC

AIOC is a provincial Crown Corporation which exists to serve as a catalyst for Indigenous prosperity and independence through investment and involvement in Alberta's natural resources, agriculture, transportation, and telecommunications sectors.

To date, AIOC has provided $513 million in loan guarantees across five transactions. A total of 27 Indigenous communities have been served by the AIOC loan guarantees, including 17 First Nations and 10 Métis communities and Locals in Alberta

SOURCE Alberta Indigenous Opportunities Corporation

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