Gwaii Trust owns Brascan shares

  • Apr. 1, 2005 12:00 p.m.

By Heidi Bevington-April 1-“We’re blockading ourselves!” said Council of the Haida Nation president Guujaaw Friday morning, after learning that the Gwaii Trust owns 9,000 shares in Brascan.
Brascan is the Toronto-based company which is in the process of buying Weyerhaeuser Co. Ltd.’s BC coastal assets, including cutting rights on land covering a quarter of Graham Island (TFL 39).
The shares are worth $403,110 as of March 30, according to a memo from Gwaii Trust administrator Tanu Lusignan. The shares make up 0.6 per cent of the Gwaii Trust fund.
The Gwaii Trust is not exactly a major shareholder, though. Brascan has 270 million shares outstanding, of which 12.7 million are held by the Canada Pension Plan. The other major holders of Brascan stock are US based Mutual Funds, according to Mr. Lusignan.