CALGARY, Alberta, Feb. 04, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (Pieridae) (TSXV: PEA) is pleased to announce that the Nova Scotia Mi’kmaq Benefits Agreement which it negotiated with the Assembly of Nova Scotia Mi’kmaq Chiefs (the Assembly) has now been ratified.
“We are looking forward to collaborating with the Mi’kmaq of Nova Scotia, and their leadership, in realizing for them the benefits of this important project,” said Alfred Sorensen, CEO of Pieridae.
This Benefits Agreement establishes the framework under which the Mi’kmaq of Nova Scotia will benefit economically from the development, construction and operation of the Goldboro LNG Project. A Memorandum of Understanding (MOU) signed in 2013 originally outlined the relationship between Pieridae and the Mi’kmaq in Nova Scotia and this new Benefits Agreement underscores Pieridae’s commitment to ongoing engagement and relationship building with the First Nations communities in Nova Scotia.
“Nova Scotia is unceded Mi’kmaq territory and the management of our lands and resources is a priority for our Nation,” said Chief Terrance Paul, Co-Chair for the Assembly of Nova Scotia Mi’kmaq Chiefs. “As we look to ensure responsible development and environmental stewardship that reflect a Mi’kmaq voice, it’s important that we can bridge that gap with industry. This agreement with Pieridae is an example of how companies can respect our Mi’kmaw Rights and Title, and also provide an opportunity for Mi’kmaq participation in development on our lands.”
Founded in 2011, Pieridae, a majority Canadian owned corporation based in Calgary, is focused on the development of integrated energy-related activities, from the exploration and extraction of natural gas to the development, construction and operation of the Goldboro LNG facility and the production of LNG for sale to Europe and other markets. Pieridae is on the leading edge of the re-integration of the LNG value chain in North America. Pieridae has 74,527,875 shares issued and outstanding which trade on the TSX Venture Exchange (PEA).
About the Assembly of Nova Scotia Mi’kmaq Chiefs
The Assembly of Nova Scotia Mi’kmaq Chiefs is comprised of all 13 Mi’kmaq Chiefs in Nova Scotia and is the highest level of collective governance for the Mi’kmaq of Nova Scotia.
Certain statements contained herein may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively “forward-looking statements”). Words such as “may”, “will”, “should”, “could”, “anticipate”, “believe”, “expect”, “intend”, “plan”, “potential”, “continue”, “shall”, “estimate”, “expect”, “propose”, “might”, “project”, “predict”, “forecast” and similar expressions may be used to identify these forward-looking statements.
Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements including, but not limited to, risks associated with the LNG project, incorrect assessment of the value of the Arrangement, failure to realize the anticipated benefits of the Arrangement, and other risks and uncertainties described elsewhere herein or in Pieridae’s other filings with Canadian securities regulatory authorities.
Forward-looking statements are based on a number of factors and assumptions which have been used to develop such forward-looking statements, but which may prove to be incorrect. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because no assurance can be given that such expectations will prove to be correct. Additional information on factors that could affect operations and financial results are included in reports of Pieridae on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), and at Pieridae’s website (www.pieridaeenergy.com).
Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and Pieridae has no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
For further information please contact:
Alfred Sorensen, Chief Executive Officer
Telephone: (403) 261-5900