Halifax-based Clearwater Seafoods announced a billion-dollar deal Monday to sell the company to a partnership between Premium Brands of British Columbia and a coalition of Mi'kmaw First Nations. Chief Terry Paul said Membertou First Nation will be leading the coalition of Mi'kmaw communities in the purchase of Clearwater Seafoods. (CBC)The Mi'kmaw coalition will put up $250 million for its share of the purchase and pay for it through a 30-year loan from the First Nations Finance Authority. Other Mi'kmaw bands show interestThe agreement will see the Mi'kmaw coalition and Premium Brands create FNC Holdings to acquire Clearwater shares. Moderate livelihood fishery not impactedPaul said the Clearwater deal will not slow the push for a moderate livelihood fishery in Nova Scotia.

Source: CBC News November 10, 2020 01:07 UTC