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MBI Business Brief – September 9, 2022

David Chartrand, President of the MMF and Councilman Mitch O'Farrell at the City of Los Angeles. Photo provided by Manitoba Métis Federation.

Red River Métis first Canadian Indigenous Nation recognized in Los Angeles

Councilman Mitch O’Farrell introduces the Manitoba Métis Federation at the City of Los Angeles. Photo provided by Manitoba Métis Federation.

On Sept. 6, 2022, a delegation from the Manitoba Métis Federation (MMF) became the first Canadian Indigenous Nation to be officially recognized by the City of Los Angeles.

The delegation travelled to California to discuss Indigenous Nation trade between Nations, and possible partnerships and opportunities in Los Angeles and within the state. The trip included meeting with Pechanga Band of Indians on trade of Indigenous-caught fish from Manitoba for the Band’s casino.

“It is an honour to be the first Indigenous Nation from Canada to be welcomed to the City of Los Angeles, and to begin creating relationships with Indigenous partners like the Fernandeño Tataviam Band of Mission Indians and the Pechanga Band of Indians,” said David Chartrand, president of the MMF. “Reconciliation is more than just acknowledging past wrongs, it’s about advancing our Nations and working together to create opportunities that better our peoples.”

The delegation was introduced to the City of Los Angeles by Councilman Mitch O’Farrell, the city’s first Indigenous city councilman. Los Angeles Mayor Eric Garcetti and the City Council have committed to collaborating with with all Indigenous Peoples in the Western Hemisphere.

Wellington-Altus expands in Quebec

Wellington-Altus Financial has expanded further into Quebec, with a new branch in downtown Montreal.

“Quebec is an important market to Wellington-Altus, and we are delighted to have a new office in the heart of the downtown financial community,” said Jordy Chilcott, president. “With a track record of incredible growth across Canada, the opening of Wellington-Altus’ new space in Montreal illustrates our commitment to establish a significant advisor base in the province.”

Hale Investment Group will work in the new location at 1250 René-Lévesque Boulevard.

“We’re absolutely thrilled to join a firm where we have complete freedom to put our clients’ interests first. The agility here to build and leverage best-in-class technology is a refreshing and welcome change that has us more excited than ever about the future,” said Simon Hale, senior wealth advisor and senior portfolio manager.

Wellington-Altus entered the Quebec market one year ago.

Air Canada donates historic aircraft to Royal Aviation Museum of Western Canada

To celebrate its 85th anniversary, Air Canada donated an original Lockheed L-10A Electra airplane to the Royal Aviation Museum of Western Canada in Winnipeg on Sept. 7.

“There is no more fitting preservation and commemoration for one of our original aircraft than to have TCC be on permanent display in Winnipeg, which was one of TCA’s original hubs when the airline began operations in 1937 thanks to its central location in our country. Air Canada has a long and rich history connecting Canadians from coast to coast which continues to this day, and it all started with the Lockheed L-10A 85 years ago. As we celebrate our 85th anniversary, we mark this milestone by ensuring that such an important part of Canadian aviation history will be available for Canadians and aviation enthusiasts to enjoy for many years to come,” said Captain Murray Strom, senior vice president – flight operations at Air Canada.

The aircraft was one of the first planes flown by what became Air Canada. Three of these aircrafts purchased by Trans-Canada Air Lines (TCA) in 1937 and until recently, the donated plane was one of only two Lockheed L10-A Electra aircraft still flying in the world. The aircrafts flew until 1939, and then changed hands several times until 1983 when it was bought back by Air Canada for its 50th anniversary celebrations. It has been used for celebrate milestones for the air carrier in 1986, 2007 and 2017.

“We’re very pleased that CF-TCC has landed at the Royal Aviation Museum and is now part of our permanent collection. This aircraft has ties to Winnipeg dating back to 1937 and to our museum in particular,” said Terry Slobodian, the museum’s president and CEO. “Our museum was previously located in the original TCA hangar here in Winnipeg. The Lockheed Electra is a perfect picture of the early days of commercial air travel in Canada. We are grateful to Air Canada for their longstanding support of our museum and for entrusting us with this spectacular piece of aviation history.”

Ceres Global Ag Corp. reports results

Ceres Global Ag Corp. announced its Q4 and year-end earnings on Sept. 9, reporting annual gross profit and income from operations grew by more than 100 per cent compared to the previous fiscal year, with adjusted net income growing by 76 per cent.

Fourth-quarter gross profit and net income were down due to “lower ending inventories across the industry and less volume merchandized and traded,” said the company.

“Ceres realized its strongest annual operating financial performance during FY2022. Our team was able to successfully navigate the price changes in grain and oilseed markets, industrial product volumes continued their upward trend in the supply chain segment and we realized attractive revenues in our seed and processing business,” said Carlos Paz, Ceres president and CEO. “We have maintained our positive trajectory of financial performance, increasing our revenue by 42 per cent and income from operations by 170 per cent, compared to FY2021.”

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