Membertou First Nation has reached an agreement with Clearwater Seafoods to acquire two of Clearwater’s eight offshore lobster licences.
Membertou is investing $25 million to purchase the licences, significantly increasing their presence in the commercial fishery in Atlantic Canada.
“Membertou is pleased to make this historic strategic investment in the sustainable and well-managed offshore lobster fishery. It further strengthens our relationship with Clearwater, leverages their expertise in offshore fisheries, and builds value for our community and provides additional employment and growth opportunities for our people,” said Chief Terry Paul.
This voluntary commercial transaction is the culmination of a collaborative project that began in mid-2019 and brings a new Mi’kmaq participant into the offshore lobster fishery.
This transaction builds on and strengthens the business relationship between Clearwater and Membertou, which already includes operating agreements in other Clearwater species, indigenous employment, and procurement commitments. Clearwater and Membertou First Nation will work collaboratively on our mutual objectives for the offshore lobster fishery – sustainable science based management of the resource, positive economic growth and increasing the value of the resource, continued research and development, benefits to local communities, and quality employment.
“Clearwater is proud to work with Membertou to create First Nation access to this important offshore fishery,” said Clearwater Seafoods CEO Ian Smith.
“This transaction serves as a model of cooperation, with the commercial fishing industry and First Nations working together as equal partners to build value and opportunity for local communities.”
The transaction is subject to standard closing provisions and regulatory approval.
