EDMONTON, Alberta, June 05, 2019 (GLOBE NEWSWIRE) -- Today, Indigenous-led, Alberta-based Iron Coalition officially launches with the intention to achieve ownership in the Trans Mountain Pipeline (TMX) once it becomes available for sale following its approval by the federal government. Iron Coalition has been mandated by the Assembly of Treaty Chiefs (AoTC) to pursue this ownership stake and is welcoming all First Nations and Métis communities in Alberta to join its momentum in securing ownership in the pipeline and bringing economic benefit directly back to their communities.

Iron Coalition will provide its members with the opportunity to generate revenue through ownership of the TMX pipeline that can be invested back into their communities with no capital costs. As a community-based initiative, 100 per cent of proceeds will be directed back to each member community based on ownership share and community population, ensuring everyone will directly benefit from pipeline ownership.

The leadership of Iron Coalition is comprised of Chief Tony Alexis, Alexis Nakota Sioux Nation; Chief Calvin Bruneau, Papaschase First Nation and President Ron Quintal, Fort McKay Métis.

“Iron Coalition’s principles are based on Indigenous groups coming together as a single Alberta-based entity to secure the best possible deal with direct benefits to our Indigenous communities,” said Chief Tony Alexis, Alexis Nakota Sioux Nation. “Our group recognizes the viability of the pipeline and that ownership will be beneficial to not only our communities, but to Canada as a whole.”

Formal letters have been sent welcoming all Indigenous communities in Alberta to join the organization, inclusive of all Métis and First Nations.

Earlier this year, leaders of Iron Coalition exclusively met with federal Finance Minister Bill Morneau to discuss the opportunity to acquire the pipeline project once it becomes for sale.

Iron Coalition will continue to secure capital as the project nears completion. The business model as outlined by Iron Coalition states that 100 per cent of profits generated will be directed back to member communities.

For more information, visit www.ironcoalition.com and Iron Coalition’s social media channels on Twitter, Facebook and LinkedIn.

About Iron Coalition:

Iron Coalition formed in 2019 as an Alberta-based Indigenous-driven organization with the sole purpose of achieving ownership in the Trans Mountain Pipeline (TMX). Represented by three Indigenous leaders, Iron Coalition is also guided by a working group of First Nation leaders, Métis presidents and community leaders with financial, legal, government and business acumen to provide direction on securing a successful purchase of the TMX project. Iron Coalition is community-focused; all profits generated by Iron Coalition will be directed back to each member community to bring lasting economic benefit to Métis and First Nations in Alberta.

Media Inquiries:

media@ironcoalition.com