Le Lézard
Classified in: Oil industry, Business
Subject: NTA

IRC Trust and Indigena Drilling Inc. Announce Landmark Relationship

CALGARY, AB, Sept. 13, 2023 /CNW/ - Indigena Drilling Inc. is a Canadian private drilling company recently formed to invite indigenous communities to participate in equity of Oilfield Services and provide opportunities for financial returns and employment.

IRC Trust is an independent investment trust formed for the benefit of the members of Indian Resource Council of Canada ("IRC"). The company was established to capitalize on new opportunities and create meaningful economic partnerships primarily in the Energy Sector. The strategic partnerships formed with indigenous and non-indigenous businesses strengthen competitive advantage, generate essential jobs and hasten the goal of economic self-sufficiency for First Nations.

The Indian Resource Council (IRC) was created following the recommendations of a federal Task Force in 1987 to support First Nations to attain greater control and management of their oil and gas resources and has grown substantially to currently represent 155+ First Nations members throughout Canada. IRC members are also actively involved in renewable energy generated from solar, wind, geothermal and other sources. IRC is an advocacy and lobby organization that interfaces with all levels of government, resource organizations and private sector companies on national and international levels. The Board of Directors consists of leading Chiefs and Indigenous leaders from across Canada.

Mr. Stephen Buffalo a Trustee of IRC Trust and President & CEO of IRC stated "This landmark relationship is an important milestone with Indigena Drilling Inc. (IDI) and marks an important large step forward for IRC and its members. We take great pride in becoming one of the founding shareholders of IDI. IDI Chairman, Elson McDougald has had a long and storied career in the Canadian drilling business. He is one of the true pioneers in doing business with First Nations and was instrumental in putting the deal together. We are proud to be partnered with him."

Elson McDougald stated, "we are pleased to gain the confidence of the IRC Trust and its members in our objectives of providing financial returns, create training and employment opportunities for the indigenous communities across Canada, and cementing the link from First Nations communities to important institutional and other investors."

SOURCE Indian Resource Council

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