PRESS RELEASE

September 8th 2022: The dispute between The Township of Red Rock and 1890717 Ontario Inc. in regards to the former mill site has been settled and all outstanding financial matters have been paid in full. Both parties have agreed to collaboratively work together to see future development of the property, enabling a new phase of investments and growth.

”We are very pleased to have settled matters with the owners of the mill site. As a Township, it’s an opportunity to look at the former mill site through a new lens with new initiatives that we hope will benefit local residents and the overall economy of the region,” stated Mayor Robinson. “We look forward to working with 1890717 Ontario Inc. and potential development partners. The mill site has been a central part of our community’s economic development, and we are excited about its future.”

Paul Veldman, a representative of 1890717 Ontario Inc. stated, ”We are excited to be working with Mayor Robinson, Council and the residents of Red Rock on the development of this beautiful property. Our vision for Red Rock is to create a destination, both in Canada and globally, known for its natural beauty. We are looking to engage with the community on various projects and other opportunities showcasing the natural beauty of the site and the economic potential moving forward.”

About the Red Rock Mill Site: The former mill site is a 360-acre property within the Township of Red Rock. The mill was closed in 2006, and the majority of buildings were removed. Given its unique location and access to infrastructure, including the TransCanada Highway and Lake Superior via its deep sea port, the property is ideal for new development and opportunities that complement the landscape.

Media Contacts:

1890717 Ontario Inc.- Paul Veldman, Managing Partner paul@thebmigroup.ca

Township of Red Rock- Mark Figliomeni, CAO/Clerk cao@redrocktownship.com