Kainai Forage is Pleased with the Addition of Agriculture to AIOC's Mandate
STAND OFF, AB, Feb. 14, 2022 /CNW/ - Kainai Forage, LP ("Kainai Forage" or the "Company"), a partnership between the Kainai/Blood Tribe and Indigena Capital, LP ("Indigena Capital" or "Indigena") was pleased to host Premier Kenney, Minister Wilson, Minister Horner, and MLA Schow from the Government of Alberta and Stephen Buffalo, the Chair of the Alberta Indigenous Opportunities Corporation ("AIOC") today, as they made the announcement that agriculture will be added to the AIOC mandate. Kainai Forage is optimistic that the expanded mandate will better enable Indigenous agriculture companies to access debt on market terms and grow their commercial enterprises.
"The Kainai/Blood Tribe have a long history of being successful agriculturalists, we have developed the largest irrigation project in Canada with infrastructure to support 25,000 acres, which provide us an enviable position in the agricultural value chain," said Chief Roy Fox of the Kainai/Blood Tribe. "However, for far too long, Indigenous Communities have been unable to develop their opportunities because of outside barriers and lack of access to capital. With our partners, Indigena Capital, we were able to overcome the access to capital problem by securing equity capital from Indigena and accessing debt capital on market terms for Kainai Forage's expansion, but the debt process took over a year longer than it should have compared to an off-Reserve project. With the addition of agriculture to AIOC's mandate, I am hopeful that future projects will be able to access debt more easily."
It is believed that future Indigenous agricultural opportunities, whether on the Kainai/Blood Tribe's Reserve or in other parts of Alberta, that are underpinned by strong economics and operations, such as Kainai Forage, will benefit from the addition of agriculture into AIOC's mandate. The expansion of the mandate should enable Indigenous agricultural projects to access debt on market terms, saving time, money, and energy that can be deployed toward building a successful business.
"We are honoured to be a financial partner of the Kainai/Blood Tribe," said Christine Robertson, President, Indigena Capital. "With their unmatched access to agricultural lands and water, most Indigenous Communities in North America, similar to what the Kainai/Blood Tribe have achieved with Kainai Forage, have opportunities to build world-class agribusinesses that can generate needed economic revenues for the community. Without access to capital, however, those opportunities face an up-hill battle to fulfill their potential. Indigena Capital is a solution-oriented company, and we constantly strive to break down barriers between the financial community and Indigenous Communities; initiatives like the AIOC in Alberta, have the opportunity to create a two-fold benefit of providing Indigenous projects with access to debt, and in addition, creating an understanding within financial communities that Indigenous projects are investable."
Kainai Forage is the first investment of the Indigenous Agriculture Company, a co-operative founded in Alberta that strictly partners with Indigenous Communities to develop their commercial agriculture ventures. The expanded mandate to include agriculture in AIOC should enable the Indigenous Agriculture Company to deploy more equity more efficiently into Indigenous agribusinesses in Alberta.
About Kainai Forage:
Kainai Forage is a partnership between the Kainai/Blood Tribe and Indigena Capital providing quality forage exports to international markets. Kainai Forage enjoys unmatched supply certainty anchored by the Kainai/Blood Tribe's 25,000-acre irrigation project, the largest in Canada. These lands, ideally suited for Timothy hay, are dedicated to growing forage for export, and provide the foundation for security of supply to international markets. Kainai Forage partners with best-in-class forage growers from Southern Alberta on the lands and all forage is dedicated to Kainai Forage for processing and export. www.kainaiforage.com
About Kainai/Blood Tribe
The Kainai/Blood Tribe is a member of the Blackfoot Confederacy and a Treaty 7 Nation. Located approximately 200 kilometers south of Calgary, Alberta, the Kainai/Blood Tribe has the largest Reserve in Canada, encompassing nearly 560 square miles, with over 12,000 members. The Kainai/Blood Tribe's focus on business enterprises is anchored by the largest irrigation project in Canada and decades of energy development on their lands. www.bloodtribe.org
About Indigena Capital:
Indigena Capital partners with Indigenous Communities to assess their unique rights and resources, investing early-stage capital to assist them in taking an active role in development. Indigena has specialized in partnering exclusively with Indigenous Communities in Canada and Tribal Nations in the United States of America for over three decades. Through disciplined capital allocation, the return expectations of investors can be met while creating the foundation for self-sustaining economies for Nations. www.indigenacapital.com
SOURCE Indigena Capital
Justin Ferguson, VP, Indigena Capital, [email protected], 403.992.0498
Share this article