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Qikiqtaaluk Corporation, Sakku Investments Corporation, Arctic Co-operatives Limited, Desgagnés Transarctik Inc. and Nunavut Sealink and Supply Inc. are pleased to confirm the Partnership Agreement
[February 25, 2013]

Qikiqtaaluk Corporation, Sakku Investments Corporation, Arctic Co-operatives Limited, Desgagnés Transarctik Inc. and Nunavut Sealink and Supply Inc. are pleased to confirm the Partnership Agreement

IQALUIT, Nunavut, Feb. 25, 2013, 2013 (Canada NewsWire via COMTEX) -- Following their announcement in April 2012, Mr. Harry Flaherty, President of Qikiqtaaluk Corporation (QC), Mr. Patrick Tagoona, President and CEO of Sakku Investments Corporation (Sakku), Mr. William (Bill) Lyall, President of Nunavut Sealink and Supply Inc. (NSSI) and Arctic Co-operatives Limited, are pleased to confirm that QC and Sakku have effectively joined NSSI, as shareholders, by acquiring ownership interest in the Iqaluit-based maritime carrier NSSI. Partners will share benefits proportionate to their respective shares, starting 2012 season.

Also, as previously pointed out, the NSSI`s new Board of Directors is now formed by the four partners, and the voting positions with this leading Nunavut Carrier and service provider is also proportional to its members` respective shares.

In a statement, Mr. Flaherty stresses that ''…this (partnership) subscribes in QC's focus on concluding new, healthy and profitable partnerships within Nunavut, which will provide employment opportunities, as these partnerships, continue to grow''. This statement concurs with a vision by Mr. Waguih Rayes, DTI's General Manager, who is confident that ''…the new synergy that is henceforth created with the participation of Sakku and QC, will enhance NSSI's involvement in (local) capacity building and employment, and will help in bettering the local management role and functions at NSSI`s offices in Iqaluit and Rankin Inlet." Nunavut is poised for rapid economic and employment growth due, in part, to the remarkable potential for natural resources that the territory holds. This fact is again reiterated by Mr. Tagoona, who contemplates NSSI as another example of a partnership that "…will provide Sakku with an even better opportunity to share in the wealth of our land".


The addition of QC and Sakku to the ownership group of NSSI was hailed by Mr. Lyall when he said: "The existing partners of NSSI welcome Qikiqtaaluk Corporation and Sakku Investments Corporation to the ownership group and are looking forward to working co-operatively to develop our common business and social interests. More than ever before, the "Common Sense" nature that forms the foundation of the NSSI partnership is now evident.

About, Nunavut Sealink and Supply Inc. (NSSI) is a proud leader in the Arctic Sealift industry, and a partnership formed between Arctic Co-ops and Desgagnés Transarctik in 2000, to provide quality services to Nunavut sealift users. Its modern fleet of heavy-lift, large-tonnage vessels provides service to Nunavut communities, government, individuals and businesses.

Arctic Co-operatives Limited (ACL) is a service federation owned by 31 independent member-owned Cooperatives in Nunavut and the Northwest Territories. Co-operatives in Nunavut represent the interests of thousands of local Inuit members and provide an important source of income for hundreds of Nunavut families through employment, purchase of arts and crafts, furs and other economic activities.

Desgagnés Transarctik Inc. (DTI), a Subsidiary of 'Groupe Desgagnés', is a maritime shipping company with vast expertise in Arctic Sealift operations. DTI deploys specialized and dedicated human and material resources, to manage the Arctic Resupply operations and related services. It provides modern heavy-lift, ice-class cargo ships to support NSSI's growing cargo volumes, and ensures a level of operational performance that meets or exceeds its clients' expectation.

Qikiqtaaluk Corporation (QC) is a wholly Inuit owned birthright development corporation created by the Baffin Region Inuit Association (now called the Qikiqtani Inuit Association). QC's purpose is to provide direct employment and financial opportunities for Inuit within and outside the Qikiqtani region. QC aims to become a major contributor to all segments of the Nunavut economy.

Sakku Investments Corp. (Sakku) is a for-profit organization owned by the Kivalliq Inuit Association (KIA). Under the Nunavut Land Claim Agreement, KIA is a designated Inuit organization with significant responsibilities for claim implementation, with Sakku serving as its 'economic arm' and deemed an Inuit Birthright Corporation. The Mission of Sakku is to build a viable and healthy economy for the Inuit of the Kivalliq region.

PDF available at: http://stream1.newswire.ca/media/2013/02/25/20130225_C8246_DOC_EN_24045.pdf SOURCE: Nunavut Sealink and Supply Inc. (NSSI) To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2013/25/c8246.html SOURCE: Nunavut Sealink and Supply Inc. (NSSI) SOURCE: Arctic Co-operatives Limited (ACL) SOURCE: Desgagnés Transarctik Inc. (DTI) SOURCE: Qikiqtaaluk Corporation (QC) SOURCE: Sakku Investments Corp. (Sakku) Nunavut Sealink and Supply Inc. Managing Director, Mr Daniel Desgagnes 1121 Mivvik St., P.O. Box 697 Iqaluit, Nunavut X0A 0H0 nssi.iqaluit@arcticco-op.com www.arcticsealift.com Arctic Co-operatives Limited VP, Merchandising & Logistics, Mr Duane Wilson 1645 Inkster Blvd Winnipeg, Manitoba, R2X 2W7 mpr@arcticco-op.com www.arcticco-op.com Desgagnes Transarctik Inc. General Manager, Mr Waguih Rayes 6565, Hebert Blvd Sainte-Catherine, Quebec, J5C 1B5 waguih.rayes@transarctik.desgagnes.com www.arcticsealift.com Qikiqtaaluk Corporation President, Mr Harry Flaherty PO Box 1228 Iqaluit, Nunavut, X0A 0H0 info@qcorp.ca www.qcorp.ca Sakku Investments Corporation President, Mr Patrick Tagoona PO Box 188 Rankin Inlet, Nunavut, X0C 0G0 investments@qiniq.com www.sakkuinvestments.ca

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