Nunasi Corporation sells majority interest in Nunavut Petroleum Corporation to Qikiqtaaluk Corporation

1 minute read
07 July 2023

On July 7, 2023, Nunasi Corporation sold its majority interest in Nunavut Petroleum Corporation ("NPC") to Qikiqtaaluk Corporation. As a result of the transaction, Nunasi Corporation and Qikiqtaaluk Corporation are now equal shareholders of NPC.

NPC is a holding company created to enter into a joint venture with ATCO Frontec to form Uqsuq Corporation, a corporation which supplies and delivers refined petroleum products to Iqaluit and surrounding areas.

Nunasi Corporation is a 100% Inuit-owned development corporation headquartered in Iqaluit, Nunavut.

Gowling WLG advised Nunasi Corporation with respect to this transaction with a team that included Alyssa Flaherty-Spence, Cam Cameron and Martin Roy.

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