ATCO Invests in West Kitikmeot Resources to Advance Grays Bay Road and Port Project and Link Canada to New Global Markets

Executive Summary

• ATCO Ltd. will invest approximately $10 million in West Kitikmeot Resources Corp. (WKR) for a 40 % ownership stake.
• The investment supports the development of the Grays Bay Road and Port Project (GBRP) – a deep‑water port, 230 km all‑season road, and 6,000‑ft airstrip slated for in‑service by 2035.
• GBRP is positioned as a strategic Arctic infrastructure asset linking the Northwest Passage to North American highway systems and enhancing Canada’s northern sovereignty and economic development.

Key Details

• Investment Amount & Structure: Approximately $10 million, provided on a staged basis, in exchange for a 40 % equity interest in WKR.
• Project Overview – GBRP:
• Greenfield deep‑water port located midway between Nome, Alaska and Nuuk, Greenland.
• 230 km all‑season road connecting the port to inland communities.
• 6,000‑ft airstrip supporting both civilian and military operations.
• Expected full in‑service date: 2035; currently under review by Canada’s Major Projects Office.
• Strategic Rationale:
• Enhances ATCO’s portfolio of ports and logistics assets.
• Provides a northern gateway for resource export, linking Arctic deep‑water to global markets.
• Offers dual‑use (military/civilian) capabilities, supporting national security objectives.
• Stakeholder Alignment: WKR is Inuit‑led; its largest shareholder is an affiliate of the Kitikmeot Inuit Association. ATCO’s partnership aligns with Inuit interests and broader government Arctic development goals.
• ATC​O Background (relevant to investment): Holds a 40 % interest in Neltume Ports and has extensive experience in remote northern infrastructure, energy, housing, and transportation services.

Notable Quotes

• Katie Patrick, Chief Financial and Investment Officer, ATCO: “Investing in essential housing, energy and defence infrastructure … broadens our port and logistics assets, connecting northern resources to global markets.”
• Brendan Bell, CEO, West Kitikmeot Resources Corp.: “WKR is thrilled to welcome ATCO as a major investor … they are a champion for the region and share our vision of Inuit‑led Northern security and prosperity.”