Bruce Power and the Saugeen Ojibway Nation (SON) have announced a $250-million expansion of their partnership aimed at boosting the production of cancer-fighting medical isotopes while delivering long-term economic benefits to the Chippewas of Saugeen and the Chippewas of Nawash Unceded First Nation.

The investment, backed by a provincial guarantee through Ontario’s Indigenous Opportunities Financing Program, is described as the largest investment support for a single Indigenous nation in Canada. The program, administered by the Building Ontario Fund, helps First Nations access equity in major infrastructure projects through provincially backed financing.

As part of the expanded agreement, SON and Bruce Power have created the Gamzook’aamin aakoziwin Limited Partnership, replacing a 2019 arrangement and deepening SON’s role in the isotope business.

TD Securities Inc. acted as financial advisor and sole bookrunner on the financing for the SON’s investment in the partnership.

McMillan LLP acted as co-counsel to Saugeen Ojibway Nation.