12 Indigenous communities sign 174 Million Dollar long-term economic benefit deal

Dignitaries and Chiefs together with the signed deal with Tamarack Valley Energy (Photo Credits - Daniel Barker-Tremblay)

Celebrations took place inside Rogers Place as 12 Indigenous and Metis Communities signed a deal that will create a unique long-term economic deal.

12 First Nation and Metis Communities acquired equity ownership in the Oil and gas midstream infrastructure located in Alberta’s Clearwater play. In partnership with Tamarack Valley Energy Ltd, the The partnership, known as the Clearwater Infrastructure Limited Partnership, is comprised of an 85% equity ownership by the 12 participating Indigenous Communities, now joined together as the Wapiscanis Waseskwan Nipiy Holding Limited Partnership (“WWN”), and Tamarack, who will operate the infrastructure and retains the remaining 15%.

This transaction is a historic endeavor for each Indigenous Community involved, as they are jointly participating in an AIOC-backed equity deal for the first time, and are now set up to directly receive long-term, meaningful, and stable revenue streams for their communities.

The 12 Indigenous communities include:

• Driftpile Cree Nation

• Peavine Métis Settlement

• Duncan’s First Nation

• Peerless Trout First Nation

• East Prairie Métis Settlement

• Sawridge First Nation

• Gift Lake Métis Settlement

• Sucker Creek First Nation

• Kapawe’no First Nation

• Swan River First Nation

• Loon River First Nation

• Whitefish Lake First Nation #459

Windspeaker Radio Network spoke with Chief Gilbert Okemow of Peerles Trout First Nation, saying the deal will create opportunities for tourism, along with still protecting the lakes around the nation.

Peerless Trout First Nation Chief Gilbert Okemow signing the deal with Tamarack Valley Energy (Photo Credits – Daniel Barker-Tremblay)

Driftpile Cree Nation Chief Dwayne Laboucan says the money will be used towards the needs of the nation in creating jobs for members.

Driftpile Cree Nation Chief Dwayne Laboucan signing the deal with Tamarack Valley Energy (Photo Credits – Daniel Barker-Tremblay)

Brian Schmidt, president and CEO of Tamarack Valley Energy speaks on the deal, calling it a historic day for both the company and the Indigenous and Metis communities, saying they are no longer sitting on the sidelines and are now business partners.