Describing MMBC's Administrative and Legal Responsibilities as the General Partner of the MMRLP

Since its inception in 2013, the Mi’gmawei Mawiomi Business Corporation (MMBC) has been instrumental in driving the ambitions of the Mi'gmaq communities of Gespe’gewa’gi. As the general partner for the Mi’gmawei Mawiomi Resources Limited Partnership (MMRLP), MMBC handles operational management and legal compliance responsibilities, always guided by our deep commitment to our mission and values.

Strategic Projects and Community Empowerment

MMBC has embarked on various economic growth and sustainable development projects in the past year. The Mesgi’g Ugju’s’n Expansion Project (MU2) represents a significant milestone in sustainable energy and a driving force for economic empowerment. This project, centred on developing a wind farm on Mi'gmaq territory, represents our commitment to environmental stewardship and community involvement. We engage in transparent discussions with community members, providing detailed information and inviting feedback to ensure that our projects reflect the collective interests of the Mi’gmaq communities​​.

Forging Partnerships in Diverse Sectors

MMBC strategically forms partnerships that complement our sustainable growth goals. Our collaboration with PLC Info, an IT company, leverages emerging trends in IT solutions to generate employment and promote economic growth within the Mi’gmaq communities. Our investment in East Coast Wind Inc. underscores our commitment to wind power, tapping into renewable energy for the long-term benefit of our communities.

Ongoing Initiatives and Diligent Evaluations

We are also focused on the Forest Biomass project, diligently evaluating its potential and aligning it with our sustainable development goals. Each project, including this one, undergoes thorough assessment to ensure it meets our strategic objectives. This approach led to our decision against pursuing the aquaculture project, which, after careful consideration, did not to meet our criteria for a sustainable business venture​​.

Project Revenue: Empowering Shareholders in Financial Decisions

MMBC, as the general partner of the MMRLP, oversees project revenue. However, we recognize that the final decision-making power rests with our shareholders.

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‍While MMBC ensures proper revenue management that is aligned with our strategic goals, shareholders are ultimately responsible for deciding on profit distribution.

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In managing these revenues, MMBC plays a facilitative role, offering necessary information, insights, and administrative support to enable our shareholders' informed decision-making. This collaborative framework ensures that while MMBC handles the daily financial management, the overarching control and final say on profit allocation reside with the shareholders. Their decisions are crucial in shaping a future that balances economic growth with our communities' cultural and social fabric.

Our strategy at MMBC for managing project revenue is designed to empower our shareholders, placing them at the center of financial decision-making. This approach promotes a sense of empowerment and collective ownership among the Mi’gmaq communities we serve. Looking ahead, MMBC will continue to support this process with integrity, ensuring our collective efforts lead to sustainable prosperity for all members of our communities.

Conclusion

As MMBC continues its journey as the general partner of the MMRLP, we remain dedicated to balancing economic development with environmental, social, and cultural well-being. Our projects, partnerships, and operational strategies are all designed to create meaningful employment and economic security for our Mi’gmaq communities.