Nunatsiavut Group of Companies (NGC) Acquires 100 Percent Ownership in CAI Nunatsiavut Marine Inc.

April 22, 2014

NGC has purchased the remaining shares in CAI Nunatsiavut Marine Inc. (CNM) from CAI Investments Inc.

NGC Nunatsiavut Inc. is pleased to announce that NGC has purchased the remaining shares in CAI Nunatsiavut Marine Inc. (CNM) from CAI Investments Inc. to gain 100 percent interest in the entity. CNM holds three contracts with the Government of Newfoundland and Labrador to operate the Ferries Northern Ranger and Robert Bond and to manage/provide shore based services in the ports in Lewisporte, Cartwright, Black Tickle, Happy Valley Goose Bay, Rigolet, Makkovik, Postville, Hopedale, Natuashish and Nain.

Clint Davis, NGC Board Chair stated “the company name will be changed to ‘Nunatsiavut Marine Inc.’ to reflect the sole ownership and management remains unchanged – Capt. Peter Adams is the President/CEO of Nunatsiavut Marine Inc. Otherwise it is business as usual and we look forward to smooth sailing.”

For further inquiries please contact James Thorbourne at 709-896-8505 ext 25.

NT5