1 100 % In u it o w n e d business development company
2 Archie angnakak CEO Greg Cayen President/COO Cathy Munro, CPA, CA V.p. Finance & Operations Malaya rheaume Executive director Franco buscemi Director communications & marketing Head Office P.O. Box 1559 bldg 1104-B suite 210 Inuksugait Plaza, Phase II Iqaluit, NU XOA OHO Tel: (867) Fax: (867) Ottawa Office 265 Carling Suite 600 Ottawa, ON K1S 2E1 Tel: (613) Fax: (613) Cover photo by : Franco Buscemi
3 Vision Statement... Nunasi s vision is to maximize profits for our shareholders and to create training, employment, and economic opportunities for Inuit of Nunavut so they obtain the knowledge and experience that will enable them to have greater economic independence. Mission Statement... Nunasi Corporation is committed to creating wealth for Nunavummiut. Nunasi will enhance our shareholders investment portfolios through quality business investments. Nunasi supports our shareholders strategic priorities for employment and training, respect for the environment and cultural, social and economic advancement of Inuit. In 1976 the Inuit Tapiriit of Canada created the Inuit Development Corporation (now known as Nunasi Corporation). The corporation was created with the purpose of supporting Inuit take a prominent place in commerce. Today, Nunasi has investments in construction, transportation, retail, logistics, expediting, bulk fuel storage and supply, medical boarding homes, digital communications and manufacturing. Photo by Lazarie Katokra
4 Our Owners Nunasi Corporation is a 100 % Inuit owned and Nunavut owned business Development Company. The Nunasi Share is held in trust by the three Regional Inuit Association and three Regional Development Corporations. The Board is comprised of Presidents and Chairs of the Regional Development Corporations and representatives from the three Regional Inuit Associations. The Nunasi Board is responsible for directing the course of Nunasi. The Board guides and directs the CEO and President/COO, the investment strategy and portfolio. Board of Directors as of April 3, 2014: Okalik Eegeesiak Qikiqtani Inuit Association (Chair) Levi Barnabas Qikiqtaaluk Corporation Charlie Evalik Kitikmeot Inuit Association David Ningeogan Kivalliq Inuit Association Harry Flaherty Qikiqtaaluk Corporation David Omilgoitok Kitikmeot Corporation Patrick Tagoona Sakku Investments
5 OUR MANAGEMENT From offices in Iqaluit and Ottawa, Nunasi manages wholly owned subsidiaries and strategic partnerships and joint ventures. These enterprises span over several industries including construction, optical services, retail, logistics, bulk fuel storage and supply, travel agency, medical boarding homes, and digital communications. The management team is jointly led by the President/COO and the CEO. Under them are Executive Director, Vice-President Finance and Operations, and Director of Communications and Marketing. The President/COO, CEO and Director of Communications and Marketing are based in the head office in Iqaluit. The Executive Director and Vice-President Finance and Operations are based in Ottawa. Nunasi Corporation Board of Directors (Kitikmeot Inuit Association, Kivalliq Inuit Association, Qikiqtani Inuit Associations, Kitikmeot Corporation, Sakku Investments, Qikiqtaaluk Corporation) CEO President/COO Executive Director D/Communications VP-Finance&Ops
6 our Investments Diversity is the key to our success, Nunasi has business ventures with a wide range of business partners. When it comes to growth and partnerships, we ask ourselves two key questions: 1. Is this a sustainable, long term, solid investment financially which will create meaningful opportunities for Inuit? 2. Will this have a positive impact for Inuit and our environmental, cultural and social wellbeing? This approach keeps the interest of Inuit at the forefront, it s not an approach that s very common in today s business world, however it s one that s been successful. NFS Nunasi Financial Services and Conference Services Nunasi Financial Services (NFS) was created as a subsidiary of Nunasi to provide top quality bookkeeping and management support services to other Nunasi subsidiary companies as well as to private enterprise. In addition to providing professional bookkeeping and management support services, NFS Conference Services also provides state-of-the-art boardroom rentals. Conference rooms feature expansive windows on the second floor downtown location and are fully equipped with superior audiovisual equipment and teleconferencing capabilities. The quality of service provided by NFS is what provides the best conference experience in the North. Polar Vision Centres Ltd. Polar Vision Centres Ltd. operates two dispensaries: Polar Vision in Yellowknife, NWT and Baffin Optical dispensary in Iqaluit, Nunavut. The Company provides frames, prescription glasses, sunglasses and contact lenses to the Baffin, Kivalliq and Kitikmeot regions of Nunavut as well as Yellowknife. Nuna Logistics Nuna Logistics Limited was established in 1993 to provide logistical, construction and mining services to Canada s northern mining industry; utilizing the knowledge and expertise of its management team and Inuit partners, familiar with arctic operations. Services offered: pre-strip and open pit mining; site and exploration services; infrastructure planning and development; dam, frozen core dam, dike, runway and all-weather road construction; earthworks and crushing services; and winter/ice road construction, maintenance and dispatching services. In addition to construction services, Nuna offers training and innovative products. Nuna Training Technologies, an accredited training facility, focuses on classroom, simulator and field based training customized to the client s needs. Nuna Innovations provides creative construction related products and solutions that are practical and cost effective such as: truck and rail car mining release agents; industrial lighting solutions; concrete cloth; and concrete shelters. Nunasi and Kitikmeot Corporation own 51% in partnership with Nuna Logistics Management Group who own 49%. ww.nunalogistics.com Top of the World Travel A full service travel and tour agency with an office in Yellowknife. Top of the World has a Northern Tours division that promotes inbound travel to the Northwest Territories and Nunavut. Nunasi owns 55% of Top of the World travel and tours in partnerships with Kitikmeot Corporation and individuals.
7 Larga Baffin Ltd. This company has a residence in Ottawa, Ontario which provides a safe and comfortable home like atmosphere for Inuit traveling from the Baffin region of Nunavut for medical services. Larga Baffin also coordinates all local transportation and return travel. Nunasi and Qikiqtaaluk Corporation jointly own Larga Baffin. Kivalliq Larga Kivalliq/Kivalliq Development corporation Larga Kivalliq is a joint venture with Sakku Investments, it owns 51% of Kivalliq Development Corporation in partnership with Aurora Ice Ltd. and Mac Holdings Inc. who owns 49%. Kivalliq Development operates the Kivalliq Inuit Centre boarding home in Winnipeg which provides medical boarding facilities for up to 80 patients from the Kivalliq Region in Nunavut. Larga Ltd. Larga Ltd. is a Nunasi/Kitikmeot Corporation/Gwich in Development Corporation joint venture. Larga operates a medical boarding home providing accommodation, and transportation in Edmonton for patients travelling out of the Mackenzie and Kitikmeot regions. Nunasi owns 37.5% of Larga Ltd. in partnership with the Gwich in Development Corporation who also own 37.5% and the Kitikmeot Corporation who owns 25%. Larga kitikmeot A residence in Yellowknife, NT which provides a safe and comfortable home like atmosphere for Inuit traveling from the Kitikmeot region of Nunavut for medical services. Larga Kitikmeot is owned equally by Nunasi and Kitikmeot Corporation. kitikmeot Nunavut Petroleum Corporation Nunavut Petroleum Corporation is a Joint Venture Agreement between Nunasi and Qikiqtaaluk Corporation. Nunasi owns 51% of NPC, Qikiqtaaluk Corporation owns 49%. Uqsuq Corporation Uqsuq Corporation is a joint venture company between Nunavut Petroleum Corporation and Atco Structures & Logistics and Logistics that operates under a Government of Nunavut contract to lease and operate the bulk fuel storage facility and pipeline distribution system in Iqaluit, Nunavut. Northern Aboriginal Services Company (NASCO) Northern Aboriginal Services Company (NASCo) is owned equally by DILP, Yukon Indian Development Corporation, Inuvialuit Development Corporation and Nunasi. NASCo owns ⅓ of Ardicom Digital Communications Inc. The other equal shareholders of Ardicom are NorthwesTel and Arctic Cooperatives Limited. The company maintains a digital communications network for the Government of the Northwest Territories and other pan-northern customers. NASCo is engaged in a joint venture with ATCO, operating under the name NASCo- ATCO Structures and Logistics Joint venture to operate and maintain facilities, towers and power generating systems at 157 NorthwesTel and 10 Bell mobility microwave sites in the Yukon, Nunavut, Northwest Territories and northern British Columbia. Ardicom Digital Communications INC. NASCO partnered with NorthwesTel and Arctic Cooperatives to form Ardicom Digital Communications Inc. with each partner owning 33.3% of the company. Ardicom Digital Communications is contracted by the Governments of the Northwest Territories and Nunavut and others to operate a digital wide area network (WAN) to serve 58 communities across the North and to provide similar services to other pan-northern customers.
8 NCC Investment Group Inc. The NCC Investment Group Inc. is a holding company for NCC Development, NCC Residential Properties, and NCC Commercial Properties. This company has a contract with the federal government to develop, own and lease the federal government infrastructure requirements in the Nunavut territory. Nunasi with Sakku Investment Corporation, Kitikmeot Corporation and Qikiqtaaluk Corporation each own 25% of NCC. Pan Arctic Inuit Logistics PAIL is a 100% Inuit owned Corporation. Nunasi has a 15% interest in PAIL. Ownership is shared with Qikiqtaaluk Corporation; Sakku Investments Corporation; Kitikmeot Corporation; the Inuvialuit Development Corporation; Makivik Corporation; and, the Nunatsiavut Group of Companies. PAIL and Atco Structures & Logistics have a 50/50 Joint Venture to operate and maintain the North Warning System through their agent, Nasittuq Corporation. Nasittuq Corporation Nasittuq Corporation operates and maintains the North Warning System and provides site support and management services for the Ellesmere Island Commercial Support Contract in Alert, Nunavut. Nasittuq s mission is to provide exemplary technical and management services to our Canadian and U.S. Government customers, while increasing opportunities for Inuit participation as trainees, employees, suppliers and owners. Nasittuq Corporation is the agent for a Joint Venture between ATCO Structures & Logistics Ltd. and PAIL. M&T Enterprises ltd. This company is a Rankin Inlet based company offering freight and delivery, fuel delivery, household moving, expediting and ground transportation, and construction services. M&T Enterprises is equally owned by Peter Tatty, Nunasi and Sakku Investment Corporation. Malca-Amit (NWT) Ltd. Malca-Amit provides secure international courier service, specialized transportation, logistics, local armored car and airfreight services. Nunasi owns 51% of Malca-Amit NWT in partnership with Malca-Amit New York Inc. who owns 49%. IEG Nunasi consultants ltd. IEG Nunasi Consultants Ltd. Offers engineering and environmental services in northern Canada. The new company brings together Nunasi s local operating experience with KCBL s international reputation. Both partners see the resurgence of mining in Nunavut and the commitment in Nunavut to remediate and reclaim contaminated sites, as an opportunity to provide a high standard of engineering design and environmental management services. Nunasi owns 51% with Klohn Crippen Berger Ltd. who owns 49%. KITNUNA CORPORATION Kitnuna Corporation is a 50/50 joint venture between Kitikmeot Corporation and Nunasi. Kitnuna engages in fuel distribution, expediting, maintenance contracts, environmental clean up, and winter road construction. Kitnuna companies include: Kitnuna Expediting Services, Kitnuna Projects, Kitnuna Petroleum and Kitnuna Pharmacy.
9 our contributions Nunasi exists to create employment, training and economic opportunities for Inuit. There are over 900 jobs within Nunasi s subsidiary businesses. Responsible corporate citizenship is a priority for Nunavut. Since 2002 Nunasi has made over $1.5 million in contributions to community-based initiatives and programs across the north. As a company wholly owned by Nunavut Inuit, Nunasi is proud to provide every Nunavut community and Larga medical boarding home an annual contribution for Nunavut Day festivities and Christmas celebrations. Education is a key that can open many doors and academic achievements should be celebrated. To celebrate the achievement of high school graduates in Nunavut Nunasi in partnership with subsidiaries, offers grad jackets to every Nunavut high school. Working with our subsidiaries Nunasi also offers post-secondary students $2500 scholarships through the Nunasi Scholarship Program. Itee Teemela wearing her new Elder jacket in Kimmirut, Nunavut. Nunasi in partnership with subsidiaries gifts Beneficiaries of the Nunavut Land Claims Agreement who are celebrating their 65th birthday. Karen Kooneeliusie and Jenny Mosesie fashioning their Nunasi Grad Jackets, Qikiqtarjuaq, Nunavut To celebrate the achievement of high school graduates in Nunavut Nunasi in partnership with subsidiaries, offers grad jackets to every Nunavut high school.
10 Nunasi timeline The Inuit Tapiriit of Canada (now known as the Inuit Tapiriit Kanatami or ITK) was the national body that represented all the Canadian Inuit in Land Claims negotiations with the Federal Government. In 1976 ITK created the Inuit Development Corporation as the development arm of the yet to be formed territory of Nunavut. Its purpose was to support Inuit to take a prominent place in the world of Canadian business. Originally, Nunasi Corporation (NC) was financed through debt financing with the debt being secured from the land claim. In 1985 a deal was brokered on behalf of NC and Inuvialuit Development Corporation (IDC) to purchase Northern Transportation Company Limited (NTCL). This acquisition was pivotal to set the stage for the future growth of Nunasi Corporation. ITK quickly decided that an Economic Development Corporation should be formed in anticipation of Land Claim funding. ITK also formed an organization called Tunngavik Federation of Nunavut (TFN) and assigned the responsibility of negotiating the final Land Claim agreement to the TFN. Shortly after that, the TFN renamed the Inuit Development Corporation, Nunasi Corporation. One of the first contracts Nunasi had was with the Colomac mine to provide personnel. In 1986 Nunasi Corporation restructured its finances to support its plan for aggressive growth. In 1988 Nunasi s Board and Executive set revised principles and goals to re-establish relationships with the Regional Inuit Associations in order to work together to benefit all shareholders. In 1993 was settled. the Nunavut Land Claims Agreement Nunasi developed a strategic plan to seek opportunities in and outside of Nunavut and to only seek partnerships and joint ventures in Nunavut when they are invited in by the Regional Inuit Development Corporations. In 2009 Nunasi has declared dividends of over $3 million since The corporate governance is reformed to include the Presidents and Chairpersons of the Regional Development Corporations and the Presidents of the Regional Inuit Associations. In 2014 April 1, Nunasi sells NorTerra to align Nunasi s interest with those of the three Regional Development Corporations. In 1992 Nunasi repaid all monies it had borrowed and secured through the Nunavut Land Claim. Nunasi made a key decision to have representatives from the Regional Development Corporations play a key leadership role as Board Members on the Nunasi Board of Directors. The profits that Nunasi makes are re-invested into other acquisitions or paid out in dividends. A dividend policy is now in place to give a certain amount to the Nunasi Trust every year. The trust then distributes the money to the three Regional Inuit Associations to support their efforts for beneficiaries. In 1999 territory. In 2012 Nunavut officially became a Canadian the two positions for President/COO and CEO Nunasi are moved to Nunavut. In 2013 the Regional Inuit Organizations introduce a new ownership structure that clarifies and harmonizes investment policies of the Regional Inuit Development Corporations and Nunasi.
11 Head Office: P.O. Box 1559 Iqaluit, NU XOA OHO (Postal) Inuksugait Plaza, Phase II, building 1104-B suite 210 (Office) P F: Ottawa Office: 265 Carling Avenue, Suite 600 Ottawa, ON K1S 2E1 P. (613) F. (613) Introducing Nunasi Corporation s newest wholly owned subsidiary. genesis room evolution room revelation room The NFS Conference Rooms are beautiful state-of-the-art facilities. We provide comprehensive services to our clients. Whether you are running a half-day workshop or a week long training event, NFS will look after everything from room rental to catering ensuring that all of your needs are met. Nunasi Financial Services NFS NUNASI Financial Services Our conference rooms feature expansive windows in our second floor downtown location. Fully equipped with superior audiovisual and video conferencing capability. The quality of service provided by NFS is what makes us the best conference and training venue in the North. Contact us to book your free tour of our rooms or make your booking online. NFS Conference Services Suite 201, th Street, Yellowknife, NT. X1A 1N5 P F