BEC / APR / 2023


EDITOR’S LETTER This month’s cover feature profiles the Southern Ontario construction-based union LiUNA Local 837. Recognized as heros during the pandemic, Business Elite Canada is proud to feature the men and women of LiUNA Local 837 whose tangible contributions to Ontario’s construction, healthcare and industrial facilities are the bedrock of its thriving economy and way of life. Late in 2022, LiUNA Local 837 heralded a new era for training conditions in the industry with the opening of the E.H. Mancinelli Learning and Education Centre, a 45,000 square-foot, state-of-the-art training and education facility. This new Centre will support workers as they build the future of Ontario. This month’s issue contains some of Canada’s biggest—and smallest—infrastructure projects, as well as some of the most exciting First Nation Corporations in the country. Thank you for reading. The BEC Team 3 APR 2023 | BUSINESS ELITE CANADA

PREVIOUS ISSUE Business Elite Canada First Canadian Place 100 King Street West—Suite 5600 Toronto, ON, M5X 1C9 Ph: 416-304-3959 Email: Web: Editor Anna Guy Creative Art Director Kulvir Singh Chief Executive Officer Milos Bulatovic President & Publisher Sanjeev Amirthanathan 06 LiUNA Local 837 4 APR 2023 | BUSINESS ELITE CANADA C O N

6 LiUNA Local 837 18 Nunavut Housing Corporation 32 Atuqtuarvik Corporation 42 Onion Lake Cree Nation Group of Companies Corporation 50 Organization of Canadian Nuclear Industries (OCNI) 62 Pizza Salvatoré 70 City of Drummondville’s New Ultramodern Water Treatment Plant 76 The Region of Waterloo Cogeneration Facilities 82 City of Sault Ste. Marie West End Wastewater Treatment Plant (WWTP) Upgrades 5 APR 2023 | BUSINESS ELITE CANADA N T E N T S

LiUNA Local 837, a predominately construction-based trade union, headquartered in Hamilton, Ontario has over 6,000 members throughout the Greater Hamilton, Niagara, Brant and Kitchener-Waterloo communities. Local 837 is one of twenty local unions that LiUNA, the Labourers’ International Union of North America, has in Canada. LiUNA is Canada’s largest building trades union and represents over 140,000 members across the country. Founded in 1903, primarily through the determination and perseverance of immigrants who sought improved working conditions, prioritizing the health, safety, and respect of workers, LiUNA today honours its roots by advocating tirelessly for its people and for the community as a whole. 6 APR 2023 | BUSINESS ELITE CANADA

Business Elite Canada is proud to champion the men and women of LiUNA Local 837 whose tangible contributions to Ontario’s construction, healthcare and industrial facilities are the bedrock of its thriving economy and way of life. LiUNA represents workers in road building, sewer and watermain, demolition, pipeline, energy, health care, residential housing, low rise and high rise forming, formwork, tunneling, remediation, and utilities to name but a few. Current estimates suggest that the Construction industry employs over 1.4 million people in Canada and generates about $141 billion to the economy annually. Construction is the foundation of the Canadian economy—building and maintaining the facilities and institutions in our cities, towns, and communities. LiUNA members impact the lives of all Canadians every day, when they use hospitals, highways, and roads, drink safe water, enjoy a sporting event, or visit one of the many institutions where they live and work. “LiUNA members have been a large part of building some of our great infrastructure.” says Riccardo Persi, Local 837 Business Manager. 7 APR 2023 | BUSINESS ELITE CANADA

“We proudly boast the construction of key sites including the largest underground tunnel built for Hydo in Niagara, the many schools, factories, hospitals, highways, and bridge projects including the Burlington Skyway and both the Garden City Skyway and Burgoyne Bridge in Niagara.” “We have built countless projects including working on pipelines, power plants, bridges, tunnels, roads, our essential services like courts, schools and hospitals.” Speaking specifically to Greater Hamilton and Niagara, LiUNA members are proud of their participation in many projects including high profile projects such as the First Ontario Centre, the Red Hill Expressway and the Lincoln Alexander Parkway, the Sir Adam Beck Generating Station in Niagara, and are in the process of building the new Grimsby/ Niagara West hospital. We also look forward to building Hamilton’s long awaited LRT. “Our members also form a strong part of our Building Communities campaign,” says Persi, “and if it weren’t through their hard work many of our donations to key hospital and health care systems, community causes and charities would not be realized.” (Left to Right) Riccardo Persi, Business Manager LIUNA Local 837, Terry O’Sullivan, LIUNA General President, Joseph S. Mancinelli, LiUNA International Vice President and Central & Eastern Canada Regional Manager. 8 APR 2023 | BUSINESS ELITE CANADA


THE E.H. MANCINELLI LEARNING AND EDUCATION CENTRE The diverse and talented LiUNA members are also behind bringing to life projects that push the envelope technologically. With a training and apprenticeship program that is second-tonone, LiUNA members are able to achieve skill requirements for jobs now, and as they evolve. In late 2022, LiUNA Local 837 opened its new Training site, the E.H. Mancinelli Learning and Education Centre, a 45,000 square-foot, state-ofthe-art training and education facility which heralds a new era for training conditions in the industry. 10 APR 2023 | BUSINESS ELITE CANADA Riccardo Persi, Local 837 Business Manager

Great six nations 11 APR 2023 | BUSINESS ELITE CANADA


The facility’s opening also solidifies the Union’s long standing commitment to innovation and the safety of workers who continue to build Canada. “The new building has allowed us to not only expand our training and offer more apprenticeship classes, but it has allowed us to strengthen our partnerships— partnerships with the Indigenous community, with new Canadians, with school boards, and with youth at risk. It’s just amazing,” said Persi. The Infrastructure Health and Safety Association can help your company build a sustainable occupational health and safety management system. Using our COR® standard, you’ll learn how to embed health and safety into your workplace culture—to ensure compliance, increase efficiency, and qualify for a broader range of contracts. We’ll also help you earn financial incentives through the Health and Safety Excellence program (HSEp) while you work toward COR® certification. Visit to find out more about IHSA and COR® It’s time to take ownership of your workplace’s health and safety. But you don’t have to do it alone. 13 APR 2023 | BUSINESS ELITE CANADA


The E.H. Mancinelli Training Centre represents LiUNA’s commitment to fostering the most educated and safe workers. “The new site not only provides us with increased space in a state-of-the-art training facility,” says Persi, “but also allows us to train an even greater number of students on the best health and safety training available” The E.H. Mancinelli Learning and Education Centre also represents the integral improvement of health and safety from decades past. In the 1950’s and 1960’s, for instance, there was not any training or Health and Safety Guidelines that needed to be followed at all. Unsurprisingly, there was a higher incidence of worker death and job-site injuries. Fortunately, through education and stronger collective bargaining language, safer workplaces have been established. The new E.H. Mancinelli Learning and Education Centre also comes at a perfect time in terms of attracting the attention of new tradespeople. As the construction sector’s workforce is aging, it must attract younger workers to pass knowledge and experience on to ensure its sustainability and educate the public on the significant financial benefits within the trades. LiUNA has developed state-of-the-art curriculums to go along with the most up-to-date health and safety courses for their members to take prior to going to job sites. Members are also assured that The Fengate team is proud to serve as an investment manager for the LiUNA Pension Fund of Central and Eastern Canada’s critical infrastructure, real estateand private equity investments. 15 APR 2023 | BUSINESS ELITE CANADA


ŽŶŐƌĂƚƵůĂƚŝŽŶƐ >ŝhE >ŽĐĂů ϴϯϳ ŽŶ ƚŚĞ ŽƉĞŶŝŶŐ ŽĨ ƚŚĞ ŶĞǁ ͘ ,͘ DĂŶĐŝŶĞůůŝ dƌĂŝŶŝŶŐ ĞŶƚƌĞ >ĂŶĚƐĐĂƉĞ ŽŶƐƚƌƵĐƚŝŽŶ /ŶĚƵƐƚƌŝĂů ŽŵŵĞƌĐŝĂů ZŽŽĨƚŽƉƐ ƵƐƚŽŵ ZĞƐŝĚĞŶƚŝĂů 'ƌŽƵŶĚƐ DĂŝŶƚĞŶĂŶĐĞ ^ƵŵŵĞƌ ^ŶŽǁ Θ /ĐĞ ŽŶƚƌŽů ǁǁǁ͘ ŐƌĞĞŶƚĂƌŝŽ͘ ĐŽŵ signatory contractors follow stringent health and safety measures on site through labour-friendly, appropriately worded collective agreements that are renewed every two to three years to ensure they remain current. LiUNA Local 837’s training programs are broken into two distinctive categories: hard skills and soft skills, says Persi. “On the hard skills side we look at health and safety, fundamentals expansion, legal issues, and so on. On the soft skills side we look at specific skills training and enhancement.” The purpose of this training is to improve the employability of workers in Ontario, and to open up vast opportunities to those workers who take a proactive approach to career management. LiUNA Local 837 is also partnering with local school boards and Indigenous communities to educate the public about construction skills or apprenticeship programs. It is also LiUNA’s position that a diverse workforce is an asset to Ontario in terms of encouraging innovation and evolution. “As we continue to train workers, we are creating a stronger, more versatile workforce,” says Persi. “We have the team in place to continue to build and grow the province. As the province continues to grow, employment opportunities will grow.” For more information, please visit 17 APR 2023 | BUSINESS ELITE CANADA


Nunavut—which means “Our Land” in Inuktitut—is a vast, remote and sparsely populated territory in northern Canada that stretches across most of the Canadian Arctic. Following decades of hard work and advocacy by Inuit visionaries and their allies, the territory was established on April 1, 1999, and has since become one of the strongest economies and fastest-growing regions of Canada. Nunavut provides a vital link to the rest of world through its maritime shipping and air transportation routes. Its main industries including mining, construction, and transportation create many jobs, as do public services such as education and health care. Each year, thousands of Canadians travel to the territory for work or play, attracted by its culturally rich and welcoming communities. Nunavut is home to about 36,800 people, 85 per cent of whom are Inuit. By 2043, Statistics Canada estimates that the territory’s population will be nearly double what it was in 1999. Like Nunavut itself, Nunavummiut are young. In 2021, there were approximately 6,800 youth between the ages of 10 and 20. As this generation enters adulthood, they need places to live where they can start their careers, raise their families, and build their communities. 19 APR 2023 | BUSINESS ELITE CANADA

In October 2022, the Nunavut Housing Corporation announced a new plan for action to help address the territory’s housing challenge and address the growing needs of Nunavummiut. Igluliuqatigiingniq: Building Houses Together—also referred to as Nunavut 3000—is the Corporation’s vision to support the development of 3,000 new housing units across every community in Nunavut by 2030. The plan is ambitious and recognizes that no one group can solve Nunavut’s housing challenge alone. The Nunavut Housing Corporation will deliver Igluliuqatigiingniq by building enduring partnerships with Inuit organizations and working with other stakeholders. Nunavut 3000 is a new approach to housing development in the territory that will build a foundation for healthy and resilient communities for generations to come. TACKLING NUNAVUT’S HOUSING SUPPLY CHALLENGE In Nunavut, settlement in permanent communities is a relatively new phenomenon. Many elders can still recount their childhood years travelling by dog teams, following the path of migrating animals, and setting up camp to reap the harvest from the land and water. Today, the territory’s 25 mostly coastal communities are isolated and there are often thousands of kilometers between them. With no roads connecting 20 APR 2023 | BUSINESS ELITE CANADA

them, they rely on sealift and airfare to transport all their goods, materials, and labour. The high cost of transportation in the north makes everything more expensive and the cost of building supplies like lumber and paint is among the highest in Canada. The window to ship materials is short and limited to the summer months on sealift. The need to transport skilled tradespeople to and from work sites makes construction even more challenging. The result is that the territory’s housing market has been slow to develop, leaving significant gaps in the housing continuum. More than half of Nunavummiut live in public housing and some of the lowest vacancy rates in the country makes it difficult for them to find good, affordable housing in 21 APR 2023 | BUSINESS ELITE CANADA

their communities. People who need temporary and crisis shelters also lack options. The Nunavut Housing Corporation manages approximately 7,800 public and staff housing units, or about two thirds of the territory’s overall housing supply of 11,720 dwellings[1] . Approximately 60 per cent of public housing units were constructed before Nunavut became a territory in 1999. Recognizing the situation will get worse without a new approach, the Nunavut Housing Corporation developed Nunavut 3000 to provide a platform to invest in housing using innovative procurement methods, developing enduring partnerships with Inuit organizations, and engaging with other housing stakeholders and developers. The Nunavut Housing Corporation is redesigning its programs and introducing new incentivizes to support the development of affordable and transitional housing. Programs will be available to builders, homeowners, investors, and community housing providers. The vision for all Nunavummiut to live in adequate, safe, and healthy homes will be achieved by: • expanding the housing continuum and increasing the range of housing options available to Nunavummiut; [1] Census 2021 22 APR 2023 | BUSINESS ELITE CANADA

• reducing the social and economic costs of inadequate and unaffordable housing; • mitigating the factors that contribute to the high cost of housing construction so that more units can be delivered for the same investment; • increasing the proportion of Nunavut’s housing stock that meets modern building codes and performance standards, including energy efficiency and climate resiliency; • supporting the development of a stronger Nunavut-based housing supply chain; and • developing building and construction tradesworkers among Nunavut Inuit. Experience the convenience of three daily meals, prepared by experienced chefs and served seven days a week. WHAT WE OFFER Looking for a comfortable and convenient place to stay during your project? Look no further than Tower Arctic Ltd's Workers Camp Facility. Our state-of-the-art facility is designed with your comfort in mind. Our camp includes a range of amenities such as fully furnished accommodations, dining facilities and laundry services. We also provide high-speed internet access, security, and 24/7 on-site support to ensure a hassle-free stay for our guests. Our facility is conveniently located approximately 700m from the Iqaluit International Airport (CYFB) and 800m from Iqaluit's downtown core, making it easy to access and get to work. We take pride in maintaining a clean and safe environment for all our guests. Contact us today to book your stay at Tower Arctic Ltd's Workers Camp Facility. We look forward to accommodating your needs and making your stay as comfortable and enjoyable as possible. Read more on our website 1502 FEDERAL ROAD, IQALUIT NU X0A 0H0 BOOK NOW +1 844 636 3550 Laundry Services Cable television Internet or Wifi Cleaning services Individual Rooms Airport Transportation Accommodations Cafeteria Rentals Pickup Trucks Equipment Office space Conference room ONE STOP SHOP TOWER ARCTIC LTD. WORKERS CAMP FACILITY 23 APR 2023 | BUSINESS ELITE CANADA

LEVERAGE CAPACITY Nunavut 3000 is a long-term plan to increase the number of housing units built in the territory by 3,000 units over the next 10 years. Through the plan, all communities in Nunavut will receive housing. Community Targets Community Targets New Units New Units 24 APR 2023 | BUSINESS ELITE CANADA

Nunavut 3000 targets new units across the four housing segments—transitional, public, affordable, and market—in response to the territory’s overall affordability challenges and market need. The plan triples the rate of new public housing units built each year and supports partnerships to build transitional, affordable, and market housing units. Overall, Nunavut 3000 plans for the development of: • 300 transitional beds/units • 1,400 public housing units • 900 affordable housing units • 400 market housing units Public housing will be delivered through Nunavut Housing Corporation’s conventional procurement process as well as innovative partnerships agreements with Inuit organizations. Transitional, affordable, and market housing will be delivered through new programs designed for not-for profits, community organizations, and private sector companies. Ensuring that Nunavummiut live in adequate, safe, and healthy homes is a common priority of the Government of Nunavut and its partners in housing. STRATEGIC PARTNERSHIPS TO ENSURE SUCCESS Nunavut Housing Corporation is undertaking exciting new procurement approaches to achieve Nunavut 3000’s goals for housing and support the development of a stronger local supply chain to help ensure sustainability into the future. 25 APR 2023 | BUSINESS ELITE CANADA

While the Corporation will continue to engage the market through standard design-build and designbid-build delivery models, Nunavut 3000 is an opportunity to build enduring partnerships with Inuit organizations through negotiated design-build contracts. NCC DEVELOPMENT LTD. One of the most significant pillars of the Nunavut 3000 strategy is the Partnership Agreement between Nunavut Housing Corporation and NCC Development Ltd. (NCCD) for the delivery of up to 2,000 units over the next 10 years—two-thirds of the overall Nunavut 3000 target. NCCD is a large developer of commercial and residential properties and is 100% owned by Inuit, via the three Regional Inuit Associations (RIAs) development corporations, along with Nunasi Corporation. This transformational engagement will result in significant investment and allow benefits to flow to the three Regional Inuit Associations who represent all Inuit across Nunavut and have controlling interest in NCCD. The 10-year Partnership Agreement provides certainty in pursuing larger volumes, integrating resources, and applying best practices. 26 APR 2023 | BUSINESS ELITE CANADA

The Partnership Agreement outlines the values and goals shared by partners including developing Inuit workforce capacity and providing Inuit with opportunities for meaningful employment and careers in the housing construction and maintenance sector. TRAINING AND EMPLOYMENT Construction is a significant industry in Nunavut and the territory’s construction employers rely on skilled workers from southern Canada to supplement the local labour supply. Job opportunities are available for general labourers, trades helpers, Red Seal carpenters, electricians, plumbers, etc. Flying workers to and from Nunavut is expensive. Providing employment readiness and construction trades training in communities to help develop local labour capacity and build a sustainable housing construction labour force is a key goal of Nunavut 3000 and a significant element of the Partnership Agreement between Nunavut Housing Corporation and NCCD. To support this training strategy, a Memorandum of Understanding (MOU) was developed to help guide Nunavut Housing Corporation’s collaboration with NCCD as well as training partners such as the Department of Family Services (Apprenticeship Division) and Nunavut Arctic College (Trades School). The objectives of the MOU are to: • maximize training investments • align curriculum and training resource development • support recruitment efforts, and • foster the development of a local labour supply Eiryn Devereaux - President and CEO, Nunavut Housing Corporation 27 APR 2023 | BUSINESS ELITE CANADA

In 2023, the Nunavut 3000 plan will result in up to 80 training opportunities in the communities where new public housing building is taking place. The goal is to align local training capacity to construction opportunities and provide a range of training opportunities to meet individual learner needs, including skills and competencies for entry into constructions jobs as well as support individuals to advance their careers in construction. The Nunavut 3000 strategy will result in the development of pre-apprentices, apprentices, and skilled tradespeople and improve the availability of skilled workers in the local labour force. With the country’s expected labour shortage in the skilled trades due to Canada’s aging population, recruiting from the south will become more difficult as the territory competes with other jurisdictions for skilled labour. To grow the local construction labour force in Nunavut, the territory’s construction trades training system stands ready to enhance the skills of Nunavummiut so that more of them can benefit from employment in the trades. The government is updating its approach to developing and certifying skilled workers and apprenticeships. This includes tutoring supports, literacy and numeracy training, and introducing practice-based credentials. 28 APR 2023 | BUSINESS ELITE CANADA

TRANSITIONAL AND AFFORDABLE HOUSING GOALS In Nunavut, the community housing sector lacks capacity, and the transitional workforce makes it difficult to attract volunteers for not-for-profit organizations that are vital for supporting purposebuilt housing, such as shelters. Community housing is owned and operated by non-profit housing corporations and/or housing co-operatives and/or land trusts. To ensure this vital aspect of the housing continuum is addressed, the Nunavut 3000 plan includes the implementation of an annual Nunavut Housing Supply Challenge. Each year, the Nunavut Housing Corporation will issue a Request for Expressions of Interest (RFEOI) to provide housing stakeholders an opportunity to share their ideas for addressing Nunavut’s housing challenges. Nunavut Housing Corporation recently closed the Expression of Interest in March 2023 and received approximately 30 proposals from interested stakeholders. Through this process, community groups and housing stakeholders that may not have the resources or experience to pursue ideas or projects on their own were invited to submit ideas for affordable and transitional housing projects. In some instances, proposals may develop into project specific partnerships or project co-investments may be considered. 29 APR 2023 | BUSINESS ELITE CANADA

The most promising ideas will be eligible for seed funding for groups to develop their projects including professional advice and assistance such as support for proposal development to help access funding. The new Nunalingni Piruqpaalirut Fund, developed as a partnership between the Nunavut Housing Corporation and Community Housing Transformation Centre (CHTC), will help build the capacity of and empower Nunavut’s community housing partners to serve the most vulnerable residents in their communities. The CHTC is a pan-Canadian non-profit organization founded in 2018 in response to the National Housing Strategy by a network of organizations from across Canada that represent and serve the needs of the community-housing sector. Since December 2019, the Centre has 30 APR 2023 | BUSINESS ELITE CANADA

supported over 338 projects with funds totalling close to $23 million. CHTC’s contacts and connections across Canada will help the Nunavut Housing Corporation to tap into the knowledge and expertise of national community housing leaders and learn from the best practices of other jurisdictions. WORKING TOGETHER TO FULFILL THE PROMISE OF NUNAVUT The Nunavut Housing Corporation can’t respond to the housing challenge alone. Partnerships, shared investment, and collective responsibility are key to meeting the housing needs of Nunavummiut. In the Katujjiluta mandate, the Government of Nunavut committed to working collaboratively with Inuit organizations, industry stakeholders, and with other levels of government to achieve tangible outcomes. Nunavut 3000 supports this by leveraging the capacity of partners in innovative ways to develop, design, and construct housing. By taking a new approach, the Nunavut Housing Corporation will help develop housing in every community and expand the housing continuum across the territory. Nunavut 3000 lays a foundation for healthy and resilient communities where all Nunavummiut can prosper and where youth can grow to become the territory’s next generation of community builders. For more information, please visit 31 APR 2023 | BUSINESS ELITE CANADA


The problem was access. For businesses and entrepreneurs in Nunavut, access to economic tools and banking infrastructure was a barrier to entry. Access to ATM machines, bank branches, and credit systems are imperative to participate in Canada’s economy, all things that for many years were unavailable to Nunavut residents. This is where Atuqtuarvik Corporation (Atuqtuarvik) steps in. Seeing that there was a need to support Nunavut businesses, Atuqtuarvik was established by Inuit leaders in 2000 to provide vital financing to Inuit businesses so that they could be involved in the mainstream Canadian economy to the same extent as other businesses. The new accessibility to commercial financing would enable Inuit businesses to play a direct role in economic development throughout the territory and in communities by providing their services and products. Another important aspect of Atuqtuarvik’s mandate from the outset was improving social conditions. Through the financing of Inuit businesses, jobs would be created for local community members, which would build capacity and help communities to become more self-sufficient. 33 APR 2023 | BUSINESS ELITE CANADA

“Put simply, the situation was that there were viable business ideas being put forward by Inuit entrepreneurs; however, they did not necessarily meet banking criteria such as the required equity or financial ratios,” says Rod Hick, President and CEO of Atuqtuarvik. “As well, the cycle of seasons (extreme weather) and the time and cost of the proposed business ideas became barriers to getting commercial bank loans. To solve this dilemma, money from the Nunavut Lands Claims Agreement (Nunavut Agreement) was used to capitalize a new corporation that could provide the financing needed for business start-ups, expansions and acquisitions. With $70 million capital, the vision was that Atuqtuarvik would operate just like a bank in providing loans and equity investments to Inuit businesses—except that it would accept greater risks. To help mitigate these risks, a cornerstone of Atuqtuarvik’s credit process was to provide exceptional customer service by developing close working relationships with clients and offer ongoing advice to help them meet the challenges they faced. For instance, during the pandemic, Atuqtuarvik worked directly with clients to assist them in navigating cashflow issues and other problems. As a result, none of Atuqtuarvik’s clients’ businesses failed despite the difficulties they encountered. Board and Staff Group Picture – 2023 34 APR 2023 | BUSINESS ELITE CANADA

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Atuqtuarvik is an Inuit-owned corporation; its shareholder is NTI Economic and Social Initiatives Inc. (NESII), a holding company of Nunavut Tunngavik Inc. (NTI). The corporation is a selfsustaining company. “Therefore, clients pay interest on their financing. It also means that Atuqtuarvik does not receive funding or subsidies from any sources,” says Hick. “We lend out the initial capital given to the corporation and as that money gets paid back, we lend it out again. Over the last 23 years, Atuqtuarvik has provided more than $160 million in debt and equity financing. As well, our loss ratio has remained low at 3.1 per cent, which is a testament to our clients and us working together. We are pleased to say that Atuqtuarvik still has the original $70 million in capital as well as positive retained earnings.” Atuqtuarvik Corporation Building - Our Office Building Mark Kalluak Building Ceremony 36 APR 2023 | BUSINESS ELITE CANADA

NEW BANKING SYSTEMS A major milestone in Atuqtuarvik’s history was to introduce new banking services to Nunavut. At the request of its shareholder, Atuqtuarvik investigated options for bringing banking services to the smaller and underserved communities in Nunavut. Studies showed that it would be difficult to open a new bank and have it be successful, so the alternative was to bring an existing bank to Nunavut, leading to Atuqtuarvik investing in First Nations Bank of Canada (FNBC). “Our purchase of shares in 2007 made Inuit the largest shareholder in FNBC,” says Hick. “Since this investment was made the Bank opened a full-service branch in Iqaluit as well as Community Banking Centres in several communities—Baker Lake, Kugluktuk, Pond Inlet, Pangnirtung, Arviat, Taloyoak and Igloolik (soon). FNBC has been an exceptional partner because it is Indigenous and it operates in remote and Northern areas, which gives them a true understanding of the issues that can arise from geography and lack of services. They also continue to play a prominent role in commercial lending throughout the territory. Today, Atuqtuarvik is the second largest shareholder in FNBC and the partnership between Atuqtuarvik and FNBC continues to be strong.” Over the last 23 years, Atuqtuarvik has provided more than $160 million in debt and equity financing. As well, our loss ratio has remained low at 3.1 per cent, which is a testament to our clients and us working together. Our clients’ success is our success. Rod Hick, President and CEO of Atuqtuarvik (Photo Credit: St-Amour Photography Ottawa) 37 APR 2023 | BUSINESS ELITE CANADA

Client Success Story - Peter’s Expediting Client Success Story - Jago Services 38 APR 2023 | BUSINESS ELITE CANADA

Another successful venture that Atuqtuarvik entered into is its partnership with NCC Investment Group (NCCIG). Atuqtuarvik and NCCIG started a joint venture business that consists of warehouses in Iqaluit. Over 10 years later, this joint venture called “NCC/AC Industrial Park Limited” continues to manage and run the warehouses successfully. The success of any company comes down to its ‘people’. It’s the same with Atuqtuarvik. “The Atuqtuarvik Team over the years has been dedicated and committed,” says Hick. “This can be seen in retention levels despite the competitive marketplace for employees in Nunavut. Our current seven employees have been with the company from five to 18 years. We breathe our values of Team, Integrity, Family, Learning and Culture. The dedication to the corporation also extends to our Board of Directors. Their business leadership and commitment to governance has been critical over the years. Together, with the unwavering support of our shareholder, the board and staff are always working for the success of our clients and their businesses. Our clients’ success is our success.” DIRECT INUIT PARTICIPATION IN ECONOMIC OPPORTUNITIES Since the capital for the corporation came from the Nunavut Agreement, Atuqtuarvik’s financing is earmarked for businesses that are Inuit-owned and located in Nunavut. The financing of Inuit businesses within Nunavut has helped to contribute to a more robust economy in the territory. This focus means that the capital and the benefits derived from the businesses stay within the territory. It is critical that Inuit continue to participate directly in the development of a sustainable Nunavut economy with their businesses. “When there is a strong and vibrant local economy in a community it enhances social well-being,” says Hick. “This is achieved through the employment of local community members, which brings in wages for individuals and families. It is also an opportunity to gain new skills. At a minimum, the new or expanded Inuit business in a community provides services and products to its residents. When this dynamic happens, it enhances self-determination.” Client Success Story – Canadrill 39 APR 2023 | BUSINESS ELITE CANADA

Another way Atuqtuarvik impacts communities and individuals is through its formal and active Corporate Social Responsibility (CSR) program. Every year a healthy budget is set aside for social, cultural and educational initiatives. Donations and sponsorships assist individuals, teams, events and various programs such as the Arctic Inspiration Prize, Students on Ice and others. We have also donated money directly to efforts like the breakfast programs at schools across the territory. In addition, Atuqtuarvik awards five scholarships worth $15,000 annually to students who are in post-secondary studies. The strengths of Atuqtuarvik are its insights into the challenge of finding and obtaining capital to establish a business in the North and having a good understanding of the needs of Nunavut communities. “One of the issues for sourcing financing is the geography and remote locations of businesses,” says Hick. “For example, in order for a business to open its doors in the coming year it may need to order materials the year prior because ships and barges can only make deliveries to communities from July or August to October. This situation can become a problem because a financier will not want to lend to the deal because of the higher risk associated with the project materials sitting idle for several months before they can be used. For entrepreneurs, if they wait to the following year to receive materials then their businesses are a year late in getting set up and running.” There is little that can be done to resolve this situation because it is due to the weather. However, by recognizing this predicament, Atuqtuarvik and the client can discuss options about the best FNBC Baker Lake Grand Opening with Community Members 40 APR 2023 | BUSINESS ELITE CANADA

way to manage the delivery of materials. It may mean changing the business plan and projections to accommodate a later delivery date. Or it may mean finding a secure place to store the material during the winter, so there is less risk of something happening to it. Regardless of what is decided (and there could be other alternatives too), Atuqtuarvik approaches the scenario with understanding and responsiveness and with the attitude that they want this client’s business to succeed. “It's the same thing for any barrier whether it is not having the equity to put into the business or not having a detailed enough business plan,” says Hick. “We work with the potential client to figure out ways to solve the issue at hand because the business idea is viable.” “Another issue an entrepreneur might face is not having the financial acumen that will be needed for the business. When companies fail, many times it can be linked to poor financial management. If this is the case, we investigate the best ways of resolving this issue before it becomes a problem. It could mean hiring someone with accounting skills or hiring a company to do the bookkeeping or enrolling the entrepreneur in the appropriate training. At Atuqtuarvik, we have also teamed up with partners to deliver financial literacy courses for entrepreneurs in communities.” The bottom line is Atuqtuarvik, as a financial institution, is here to find ways to make viable business ideas become a reality for Inuit entrepreneurs. For more information, please visit For the full story of Atuqtuarvik Corporation get a copy of the book called, “A Northern Heart: The Atuqtuarvik Story”. It is available as a downloadable digital book on the corporate website or there are still hard copies available by contacting their office. 41 APR 2023 | BUSINESS ELITE CANADA


Over nearly 60,000 acres sweeping between what is now the AlbertaSaskatchewan border, the Onion Lake Cree Nation is home to 4,200 of the band’s 7,081 members. Located 50 km North of Lloydminster, Canada, it is the only reserve whose land straddles the two provinces. Onion Lake is of the Treaty Six Territory which was signed by Chief Sakaskohc at Fort Pitt in 1876. It was only in 1914 which Makaoo and Sakaskohc amalgamated to be one band. The mission of the Onion Lake Cree Nations (OLCN) is to work in collaboration with and in an OLCN Integrated Approach with our citizenship and leadership. The OLCN bases its approach on ‘OLCN Nehiyaw’ perspectives to effectively implement relevant, effective, government and governance in achieving innovative solutions to achieve selfreliance, economic self-sufficiency, and community wellness. To further this mission of participation in the broader economic landscape, and ownership and control of assets, OLCN created the Onion Lake Group of Companies Corporation (OLGCC). Through consultation, procurement strategies and other factors enabling growth, the Indigenous economy will significantly contribute to the Canadian GDP, potentially exceeding $100 to $150 billion in the next 10 to 15 years. Investments by Indigenous infrastructure and Indigenous businesses like OLGCC illustrate the growth of this market and the 43 APR 2023 | BUSINESS ELITE CANADA

ability to generate wealth for the community, while maintaining a strong image of professionalism and effective management of assets. With its genesis in 1985, the pioneering Northbridge Industries was the first company in the group, which was successful in creating employment for members and provide services for the community. This led to the creation of Onion Lake Enterprises, Makaoo Mall Development, Onion Lake Gas Cooperative and Beretta Pipeline and Construction. In 2004, Northbridge Industries was renamed to Onion Lake Business Development Corporation with the focus to establish new businesses and employment. In the last 10 years, six more companies were developed; Askiy Apoy (Fluid from the Earth) Hauling; All Nations Building Supplies; Onion Lake Wells Servicing; Onion Lake Vacuum & Pressure; Onion Lake SGI; and OL Net Services. Onion Lake Business Development was renamed to Onion Lake Group of Companies Corporation in 2022 to reflect the shift from a non-profit corporation to a Limited partnership/ General Partnership. “In the last year our approach to sustainability has been compiling information with feasibility studies and business plans, to ensure we have the right information for important decision-making initiatives,” says Tom Chief, Chief Executive Officer. “Our strategic priorities are based on self-sustaining opportunities that focus towards organizational, environmental and economic growth for our Nation.” “At OLGCC we manage the businesses of the Nation and provide guidance and recommendations on economic development opportunities for the community, while maintaining our focus on our people and sustainability,” says Chief. OLGCC has created a diverse portfolio of companies, all 100 per cent First Nation owned. “We are very proud that majority are managed by our very own band members,” says Chief. “We 44 APR 2023 | BUSINESS ELITE CANADA

categorize our companies in two areas: Oil and Gas Industry and Commercial/ Retail Industry. Our managers dedication and our Nation’s support is the main contributors to our business successes.” OLGCC COMPANIES CONSIST OF: • Onion Lake Oilfield Services • Askiy Apoy Hauling • OL Wells Servicing • OL Vacuum & Pressure • All Nations Building Supplies • Beretta Pipeline and Construction • Makaoo Mall Travel Centre and Grocery Store • Onion Lake Enterprises. • Onion Lake Gas • OL Net Ltd. • Onion Lake SGI MVD 45 APR 2023 | BUSINESS ELITE CANADA

OLGCC has had many successful private sector partnerships since its inception. One such example is OL Pharmacy (2005) which has supported the provision of pharmaceutical services locally to OLCN members and surrounding communities. Onion Lake has been in Oil Production since in 2003 with International Petroleum Corporation, and Summit Earth Services is a joint venture partnership called Turtle Islands Earth Services (2021) with Onion Lake, Beretta Pipeline and Construction. Of these partnerships, Chief says, “Our mandate has never changed when it comes to partnerships. We first look at what opportunities can this partnership bring for our members or benefit our companies in the long-term, transparency to information, good relationships and strong communication is important in any partnership, but that partner must recognize and understand that Onion Lake has their own voice and our own way of doing things.” The OLGCC Board of Directors report to our Shareholders (Chief and Council) Quarterly. “Communication and having dialogue are important to our Nation to ensure we are on the same path going forward,” says Chief. “We also package information of our Companies to distribute at membership meetings or other community events.” OLGCC also works with training centers and education to prepare our members for upcoming 46 APR 2023 | BUSINESS ELITE CANADA

Mass_NRG_WhiteLine_Bleed_InnerMask_RGB Onion Lake Group of Companies Corporation Thank you for your commitment to First Nation investment and employment. Serving Indigenous Markets across Saskatchewan employment opportunities by recruiting members in apprenticeship and try to place them within our companies. “We like to take our students in hopes to mentor under our companies and develop a career within our companies. It has always been our mandate to hire and invest in our members,” says Chief. The benefits of capital and economic development in OLCN has been enormous. The primary achievement of the OLGCC has been the steady and consistent employment and income for many members and families. Over 90 per cent of OGLCC employees are band members—a source of great pride. 47 APR 2023 | BUSINESS ELITE CANADA


“We work hard retraining some of the community income by providing local services to our members and reinvesting it back into our people and it is the greatest benefit of it all,” says Chief. “We assist with contributions to help with maintaining our infrastructure and contribute sponsorships to our sports teams, elite athletes, and community events.” “Self- reliance is definitely something we are working towards. We are driven to ensure capital is secure for future ventures or expansion of our companies,” says Chief. “Onion Lake is always presented with business opportunities, investments, and partnerships. It is our services at OLGCC where we are able to contribute and provide assessments and recommendations that are at the best interest of the Nation.” For more information, please visit 49 APR 2023 | BUSINESS ELITE CANADA

Ultra Safe Nuclear Corp’s (USNC) Micro Modular Reactor being constructed by Global First Power at Chalk River Laboratories 50 APR 2023 | BUSINESS ELITE CANADA

Established in 1979, the Organization of Canadian Nuclear Industries (OCNI) is the voice for the Canadian nuclear industry’s suppliers and an advocate for its 230 leading suppliers and institutions in the nuclear industry in Canada and abroad. OCNI member companies employ more than 15,000 highly skilled and specialized people in Canada, who manufacture major equipment, medical isotopes and safe applications of nuclear technology, and provide engineering support services with Canada Deuterium Uranium (CANDU) and Small Modular Reactor (SMR) technology for nuclear power plants domestically and internationally. “OCNI is the leading voice of the Canadian nuclear supply chain and actively promotes the production of safe, clean, and reliable nuclear energy as a central part of Canada’s balanced electricity generation portfolio,” says Brian Fehrenbach, Director of Business Development. “OCNI also encourages and supports its member companies by taking their unique capabilities and high standards of quality and customer value Ultra Safe Nuclear Corp’s (USNC) Micro Modular Reactor being constructed by Global First Power at Chalk River Laboratories 51 APR 2023 | BUSINESS ELITE CANADA

to offshore nuclear markets through partnerships with local suppliers, power plant designers, nuclear utilities and government agencies.” FOCUSING ON SMRS Called “the next great opportunity for Canada”, Small Modular Reactors (SMRs) represent the next great opportunity for Canada—providing a source of safe, clean, affordable energy, opening opportunities for a resilient, low carbon future and capturing benefits for Canada and Canadians. SMRs are a promising new technology that could unlock a range of benefits: economic, geopolitical, social, and environmental. Canada’s SMR Action Plan brings together essential enabling partners, leveraging their strengths to lock-in these benefits and lead the world on SMRs. “SMRs differ from CANDU both in their size (Small), their construction methodology (Modular) and in some cases their more advanced technology,” says Fehrenbach. “This presents a large list of benefits depending on the technology chosen.” WHAT DOES THIS MEAN FOR CANADA? All of the SMRs under licensing consideration in Canada can be placed into one of three categories. The first group, Stream One, is defined in Canada’s SMR Action Plan as being focused on the deployment of grid-scale reactors to provide energy to consumers. Ontario Power Generation has initiated Canada’s first grid-scale SMR project (~300 megawatt) to be constructed at the Darlington site, followed by the first of up to four subsequent units in Saskatchewan anticipated to be in service OCNI’s President and CEO Bill Walker, OPG’s President and CEO Ken Hartwick, OPG’s Vice President New Nuclear Gary Rose and Ontario Minister of Energy Todd Smith at the groundbreaking for OPG’s BWRX-300 SMR at its Darlington site. 52 APR 2023 | BUSINESS ELITE CANADA

by 2034. Additionally, Ontario Power Generation intends to evaluate the potential for the deployment of additional SMRs at the Darlington site. This “fleet” approach would identify a common SMR technology that could be more efficiently deployed in multiple jurisdictions. Site preparation is now underway for a BWRX-300 at OPG’s Darlington New Nuclear Project site in Clarington, Ontario, with construction expected to be complete by the end of 2028. This will be the first grid-scale SMR in North America. “A 1MW power source could power approximately 1,200 average Canadian homes over a year, so even a ‘small’ 300 MW reactor can still provide a lot of electricity,” says Fehrenbach. “As more computer intensive high-tech companies move to Canada and its industrial base of steel and resource heavy industries look to modernize, these facilities may draw as much as 100 MW for themselves. This brings us to a second category of SMRs which includes those defined as Stream 2 in Canada’s SMR Action Plan. Stream 2 is focused on the use of nuclear technology to help decarbonize industry by creating both energy and steam through the use of 4th generation advanced SMR designs. Two of these designs will be developed in New Brunswick through the construction of a project at the Point Lepreau nuclear generating station. The ARC Clean Energy technology is anticipated to be commissioned in 2029 and generating power by 2030, to be followed by Moltex Canada’s SSR-W, according to the SMR Action Plan. Stream Two and other ‘Generation IV’ technologies are very advanced reactors of different designs that BWRX-300 Rendering 53 APR 2023 | BUSINESS ELITE CANADA

Bill Walker joined the Organization of Canadian Nuclear Industries (OCNI) as President & CEO in July 2022. Before joining OCNI, he was a third-term Member of Provincial Parliament for Bruce-Grey-Owen Sound. From June until November 2018, Bill served as the Chief Government Whip. He was then appointed to Cabinet as Minister of Government and Consumer Services until June 2019 when he became Associate Minister of Energy. In October 2021, he was appointed as Deputy Speaker. Bill also served seven years in Opposition as the Progressive Conservative Critic for Seniors, Long-Term Care and Accessibility, Community and Social Services, Long-Term Care and Wellness, Children and Youth Services, as well as Deputy Health Critic for Rural and Northern Ontario. He is also a long-time PC Caucus Nuclear Chair. In 2020, Bill was awarded the Provincial Public Policy Stewardship Award by the Canadian Nuclear Isotope Council in recognition of his contributions to public policy in the field of medical isotopes. Prior to his election to provincial parliament, Bill worked as Operations Manager at Bruce Power, and was Executive Director at the Bruce Peninsula Health Services Foundation where he led a successful campaign to raise $3 million for the Lion’s Head and Wiarton hospitals. He was born and raised in Hepworth where he developed a strong sense of family values and a deep appreciation for our rural heritage. For this reason, Bill has long been active in Grey and Bruce, committing his time to social and economic causes. He has served on the popular Wiarton Willie Festival, Heart and Stroke Foundation, and Bluewater Education Foundation. Bill and his wife Michaela have two sons, Zach and Ben. In his spare time, Bill is a practicing amateur auctioneer and a “Marrying MPP” who is quickly becoming a very popular Marriage Officiant for Bruce Grey! Bill Walker, President and CEO 54 APR 2023 | BUSINESS ELITE CANADA