20 September 2018
Nuna Logistics Limited (Nuna) is pleased to announce that North American Construction Group Ltd. (NACG) (NOA.TO/NOA.NYSE) have signed a definitive agreement to purchase the minority shareholder of Nuna, 2835878 Canada Inc., with a closing date effective November 1, 2018.
Nuna Logistics Limited, established in 1993, has ownership consisting of:
The NACG acquisition of 2835878 Canada Inc. enables Nuna to retain it’s 51% Inuit ownership and the majority of Nuna’s board positions held by Kitikmeot Corporation, a wholly owned business arm of the Kitikmeot Inuit Association.
The founding members of 2835878 Canada Inc. - Mervyn Hempenstall, Chairman, President & Chief Executive Officer, Court Smith, Executive Vice President, Pam Alloway, Vice President & Chief Financial Officer and Pat McHale, Operations Manager will retire from Nuna’s leadership team and their respective board positions effective November 1, 2018. Their retirement follows detailed succession planning developed over the past several years to ensure Nuna’s continued growth and success in a seamless transition.