News

Rankin Inlet/Cambridge Bay, Nunuvat (May 29, 2003) Atuqtuarvik Corporation announced today that it has completed the placement of equity funding to the Kitikmeot Corporation to support development and construction of the Kitikmeot Health Centre by the Inuit-owned regional birthright development corporation. Atuqtuarvik Corporation is a wholly owned subsidiary of Nunavut Tunngavik Inc. that acts as the investment arm of the Inuit birthright organization.

“It is very important for Inuit to be involved in this project as health service will be greatly improved, more cost effective and there will be less inconvenience for patients and their families,” said Charlie Lyall, President & CEO of Kitikmeot Corporation. “It is to everyone’s benefit to have the Government of Nunavut and Inuit organizations working together on an initiative of this scale. We are confident in Kitikmeot Corporation’s ability to improve the quality of life for people of the Kitikmeot.”

Added John Hickes, Chairperson of Atuqtuarvik Corporation: “We look forward to the immediate involvement of Inuit in the construction and operation phases of the Kitikmeot project as well as the long term health benefits the new center will bring to Inuit in the region.”

“We are very pleased to have the opportunity to design, and construct the new regional health facility in Cambridge Bay,” said Clare Basler, Chief Operating Officer– Kitikmeot Corporation. “We value the confidence the Government of Nunavut has in us to meet the challenge of building this important facility.”

The Kitikmeot Inuit Association (KIA) wholly owns the Kitikmeot Corporation (KC), and is one of the three Regional Inuit Associations that work with NTI in implementing the Nunavut Land Claims Agreement. KC and the Government of Nunavut have finalized the Development Agreement for the health facility project. Site and foundation work commenced last summer and construction of the structure will commence in June of this year.

Atuqtuarvik Corporation was established by NTI in 2000 for the purpose of providing investments and loans to Inuit-owned businesses for commercially viable projects in all sectors of the economy. The Kitikmeot Inuit Association established its development corporation in order to develop the regional economy.

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