The Nisga'a Nation is issuing this press release to clarify the nature of the partnership between Nisga'a Knit & Apparel Corp. and Kootenay Knitting Company Ltd announced on Friday, November 16, 2007.
The Nisga'a Nation's government structure is comprised of Nisga'a Lisims Government, which acts on behalf of the Nisga'a Nation, four Village Governments and three Urban Locals, representing the urban Nisga'a population in Terrace, Prince Rupert and Vancouver, British Columbia. There is no entity known as the "Nisga'a First Nation".
Contrary to the impression left with the press on November 16, 2007, the Nisga'a Nation has not purchased 29 percent of the shares of Kootenay Knitting Company Ltd rather, the Laxgalts'ap Village Government, one of the four Nisga'a Village Governments, has purchased those shares indirectly through its economic development corporation.
The Nisga'a Nation is considering making a contribution to the Laxgalts'ap Village Government in accordance with processes established under the Nisga'a Economic Development Fund Act to assist the Village with this investment.
Nisga'a Lisims Government
marketing@alchempro.com
