Refinancing Clearwater loan worth millions in annual cash flow for Mi’kmaw owners

January 24, 2024 Canada

Mi’kmaw First Nations that own half of Canadian seafood giant Clearwater will finally start seeing multi-million dollar cash flows from their investment thanks to a loan refinancing that slashes interest payments. Their partner in the landmark deal, Premium Brands of Richmond, B.C., lent a coalition of seven Mi’kmaw First Nations about $240 million to cover their equity purchase of Clearwater in 2020. But the loan came with a hefty 10 per cent interest rate, according to the non-profit First Nations Financial Authority. Premium has agreed to refinance $100 million of that debt through the First Nations Financial Authority at its interest rate of 4.2 per cent, the authority said Tuesday. more, >>click to read<< 12:37

British Columbia, Canadian seafood giant Clearwater, Chief Terry Paul, Membertou, Membertou First Nation in Cape Breton, Mi'kmaw First Nations, Miawpukek, Newfoundland and Labrador, Nova Scotia, Paqtnkek First Nations in Nova Scotia, Pictou Landing, Potlotek, Premium Brands of Richmond B.C., Refinancing Clearwater loan, Sipekne'katik, We’koqma’q, worth millions in annual cash flow

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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