Lac La Croix First Nation Partnership with Gemini Corp
Press Release – March 10, 2008
Lac La Croix First Nation partnership with Gemini Power Corp. On November 8, 2007 the final agreements were executed with Gemini Power Corp. to establish Gemini Power Corp. as an equity partner on the Namakan River Hydro Development Project. A ceremony was conducted on November 11th in the Lac La Croix Community roundhouse to bring life to the agreements.
Cultural Advisor and Elder, Kalvin Ottertail conducted the spiritual ceremony on behalf of the Council and Chief Leon Jourdain, that formally established the High Falls Development Partnership.The High Falls Development Partnership has been formed between Gemini Power Corp. and Neguaquon Lake Hydro Development Projects LP (NLHDPLP). The Partnership will carry on the business of developing, constructing, commissioning and operating the hydroelectric site known as High Falls, and potentially that of sister sites known as Hay Rapids and Myrtle Falls.
NLSDPLP, is a partnership between the Lac La Croix First Nation and Chafam Premiere Inc. (a shareholder of Chant Construction Limited). Chant Construction is the managing entity within Ojibway Power and Energy Group (OPEG), the General Partner (management arm) of NLHDPLP.
OPEG was awarded the “Applicant of Record” for the Namakan River Competitive Release Package (CRP-03-05), effective December 22, 2005 by the Ontario Ministry of Natural Resources for the three sites on the Namakan River south-west of Atikokan, Ontario.
Under the arrangement with Gemini Power Corp., the Lac La Croix First Nation can reach 90% ownership of the development as early as Year 12 of operations. The Lac La Croix First Nation Community through OPEG also will be involved in the physical operation of the project once commissioned.
Dr. Michael Dan, President of Gemini Power Corp., said
“(GPC’s) participation in the High Falls Development Partnership is truly the culmination of a vision for GPC and a life long dream for myself of becoming a true partner with a First Nation Community in the development of clean, renewable energy. The legacy of this project for the Community will be nothing short of economic prosperity for generations to come. We are extremely pleased to be participating with the Lac La Croix First Nation, Chafam Premiere Inc. and Chant Construction Limited in this remarkable project.”
>>VIEW accompanying photo.