Minigoo Fisheries.

Cheif Darlene Bernard Announces Formation of Minigoo Fisheries Inc.

Lobster and fish processing facility will open May 2010 without government financial assistance

LENNOX ISLAND, DECEMBER 2, 2009 – Chief Darlene Bernard today announced the historic formation of Minigoo Fisheries Inc, a company 100% owned by the Lennox Island First Nation; the first lobster processing facility to be wholly owned and operated by a First Nation in Atlantic Canada.

The Minigoo Fisheries processing facility is under construction on Lennox Island First Nation lands under the jurisdiction of the Federal Government.

The company plans to open its new custom designed facility and begin processing lobster for export to the United States and world markets in May 2010.

The processing operation will purchase lobster from both aboriginal and non aboriginal fishermen, providing new opportunity for both groups.

The company is being financed without government assistance. Funding has been accessed through private banking sources (Bank of Montreal) on the strength of its business plan (prepared by the firm of Grant Thornton) and potential for success. Profits generated from the business will be invested in infrastructure on Lennox Island, as well as programs and services for the Lennox Island community on and off reserve.

A Board of Directors has been appointed from the Lennox Island First Nation and the community at large to oversee operations of Minigoo Fisheries . It includes Chief Bernard as Chair of the Board, and the names of Colin MacDonald, President of Clearwater Seafoods , and Gerald Amirault CEO of the Lobster Institute at the Atlantic Veterinary College; as well as Stan MacPherson, senior partner in the MacPherson Roche Smith accounting firm (COMPLETE LIST OF BOARD OF DIRECTORS BELOW).

Chief Bernard called it a monumental day for the Mi’kmaq Nation at Lennox Island.

“The historic formation of Minigoo Fisheries Inc. will have a long and lasting positive impact our community, but will also prove to be an economic generator for all of Prince Edward Island,” said Chief Bernard. “Job opportunities will be available to members of the Lennox Island First Nation, as well as for individuals in the region and throughout the province. This is a win-win for all Islanders.”

Minigoo Fisheries Inc will work operationally with Jon Osmann Arason. He will manage to the operation of the processing facility and marketing of the product. He brings with him a long and successful background in the global fish processing and marketing business.

“I want Minigoo Fisheries to set the standard for seafood processing around the world,” said Mr. Arason. “I do not see any reason why this should not happen on Lennox Island and bring pride to all of Prince Edward Island.”

Lennox Island band member Robert Augustine has been retained as Manager of Operations and will work closely with Mr. Arason.

Chief Bernard added that today’s announcement is the beginning of the journey on her Nation’s road to self-sufficiency.

“Doing this without any government assistance not only speaks to the sound business case we have developed, but also sends the message that Lennox Island First Nation is committed to investing in business opportunities and partnerships that will have a positive impact on our future,” said Chief Bernard. “We have talked for years about taking control of our own destiny and I believe today is a huge step toward that goal.”

For more information, contact:

Dennis King, Director of Communications
Mi’kmaq Confederacy of Prince Edward Island
(902) 436-5101 dking@mcpei.ca
Jack MacAndrew, Media contact
Blue Atlantic Fisheries
(902) 892-7359 mconcept@xplornet.com

Minigoo Fisheries Inc. Board of Directors December 2009

Chair: Chief Darlene Bernard (nonvoting)

Executive Assistant and Advisor to the Chair: Alan Baker (nonvoting)

Director and President: Corinne Dyment (voting)

Director and Vice President/CEO: Jon Arason (voting)

Director and Secretary: Tabatha Bernard (voting)

Director: Wendell Labobe (voting)

Director: Jack MacAndrew (voting)

Director: Elder Matilda Knockwood Snache (nonvoting)

Director: Stan McPherson (nonvoting)

Director: Colin MacDonald (nonvoting)

Director: Gerald Amirault (nonvoting)

Executive Council to the Board

Finance: Trevor Kennedy, Grant Thornton

Natural Resources: Randy Angus, Mi’kmaq Confederacy of PEI

Media: Dennis King, Mi’kmaq Confederacy of PEI