News Releases

CHARLOTTETOWN, December 7, 2009 – BMO Financial Group has reaffirmed its support for both Canadian Aboriginal communities and the Atlantic lobster fishery, with the provision of a loan to Minigoo Fisheries Inc. to operate the first lobster processing facility in Atlantic Canada to be wholly owned and operated by a First Nations group. The facility is expected to create up to 80 jobs.

“BMO has been working for over a decade to make business partnerships with Aboriginal businesses across Canada,” said Stephen Fay, National Director, Aboriginal Banking, BMO Financial Group. “By supporting Minigoo Fisheries, we are joining in a fantastic project that will provide significant benefits for the Lennox Island Mi'kmaq.”

“This is good news for the local economy as the country emerges from the recession,” said Robert Kavcic, Economist, BMO Financial Group.

“BMO is committed to standing by our customers in both good times and in difficult ones,” said Steve Murphy, Senior Vice-President, Atlantic Provinces Division, BMO Bank of Montreal. “Lobster season may have just started in southern Nova Scotia last week, but being a part of this project will benefit lobster fishers from across the region – fishers who have been hit by the recent downturn in the lobster market.”

Murphy also called on all Canadians to support Canadian lobster fishers by buying lobster during the holiday season. “I encourage everyone to bring more lobster home and enjoy one of Canada's real treasures. Canadian lobster fishers need your support. You'll be having a treat and helping out your fellow Canadians at the same time.”

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