FHQ: Turning thousands into millions for Saskatchewan Indigenous communities

Indigenous investment firm, File Hills Qu'appelle (FHQ) Developments, sells software testing assets at a 1,150 per cent return.

REGINA, SK, Aug. 31, 2022 /CNW/ - Indigenous investment firm FHQTC Developments Ltd. (FHQ) announced the sale of its IT services business PLATO Sask to leading national IT services provider PQA.

The sale of PLATO Sask Testing brought an 1,150 per cent return on investment back to the 11 First Nations that own FHQ. The profits of this sale will be reinvested in other business in line with FHQ's business model, which continues to see exponential growth throughout its portfolio across several industries. FHQ is also proud to report this successful business deal adheres to the firm's operations philosophy, rooted in the Treaty Principle "Miyo-wîcêhtowin ? 'The Principal of Getting Along Well with Others, Good Relations, Expanding the Circle'".

"Today's sale illustrates the incredible growth FHQ Developments has achieved in the last five years due to the effectiveness of our business model.  Our decisions are made to create the greatest economic benefits for our communities, while staying true to our Indigenous value systems," said Thomas Benjoe, President and CEO of FHQ. "We took a startup tech business, created value in that business, and now we are ready to sell it for a significant return." 

"We couldn't be prouder of the growth and expansion of PLATO Sask Testing, which has supported many Indigenous people working in the software testing sector in Saskatchewan and across the country," said Jeremy Fourhorns, Tribal Chief and Board Chair. "These employees will have the opportunity to continue expanding their skills with PQA Testing, and we wish them further success in their careers."

A slate of new investments is on the horizon, scheduled to close by the end of spring 2023. FHQ is also working towards establishing a new fund with partners in the agriculture sector, expanding their investment portfolio into new industries.

"This is big news for us as a First Nations investor, clearly demonstrating that the model we have built is effective," said Benjoe. "FHQ continues to explore new business opportunities and we encourage the investment and business community to follow our progress."

For further information about FHQ Developments, please visit www.fhqdev.com  

FHQTC Developments Ltd. is owned by the 11 Nations of the File Hill's Qu'Appelle Tribal Council which is spread out across southern Saskatchewan and serves over 16,000 citizens. The organization's primary purpose centres on the long-term economic independence and prosperity of its partners and citizens by developing profitable business ventures, economic development opportunities, and advancing employment and livelihood for their Nations and citizens in a manner consistent with Nehiyaw (Cree), Dakota, Nakota, Lakota, and Anishinaabe (Saulteaux) Nations teachings.

SOURCE FHQ Developments