A groundbreaking partnership points to a model for future resiliency across Northern Ontario and beyond. The Missanabie Cree, the Chapleau Cree, and the Netamisakomik Anishinabek
(Pic Mobert) First Nations are now significant owners in two Hornepayne businesses.
Having partnered through the newly formed Northeast Superior First Nation Investment LP, the three First Nations now hold a $4M equity share in Hornepayne Lumber and Hornepayne Power Inc. A memorandum of understanding towards the equity stake of more than 30% was signed in July, and Nov. 30 marked the deal’s completion.
“The scale of this investment by First Nations is a first in Ontario,” said Chief Keith Corston, Chapleau Cree First Nation. “We’ve got to be part of the business to be able to manage the resources within our territories and ensure the integrity of our forests. We’re investing here as an investment in our people, our community, our lands, and our future.”
“This is about creating resources to invest back in the healing of our people and to create opportunities for our people to live a good life,” added Chief Johanna Desmoulin of the Netamisakomik Anishinabek.
“This investment creates real opportunities both at the facilities and in the forest operations for members of the First Nations.” said Chief Jason Gauthier of the Missanabie Cree, “Our populations are growing, and as the sector’s workforce ages, our people will be the logical choice for employment.”
Frank Dottori, President and CEO of Hornepayne Lumber and Hornepayne Power Inc., said, “We’re delighted that local First Nations are participating as equal partners in wealth creation and resource management for Hornepayne Lumber and Power.”
David Flood, President of Northeast Superior First Nation Investment LP, said, “This model can be replicated in other communities with First Nations as an important community development catalyst. This is what full participation can look like.”
(Source: Wawa News)