Thank you, Jennifer.
Thank you, Chair and members of the committee.
I too would like to emphasize how proud we all are to have built and to be continuing to build a relationship with the Mi'kmaq of Nova Scotia and the Miawpukek in Newfoundland and Labrador. It's tangible proof of both the community and the business benefits of indigenous reconciliation and the benefits to rural fishing communities. It is truly a win-win-win.
We are pleased to have new owners who are focused on creating sustainable value over the long term, which allows Clearwater to continue to invest in maintaining resources, opening markets and building the reputation and value of Canadian seafood.
Recently there have been some questions raised regarding the ownership structure of inshore fishing licences. I want to make it clear today that historically under the owner-operator and fleet separation policies and now under the current DFO policy for preserving the independence of the inshore fleet in Canada's Atlantic fisheries, which has been turned into regulation, Clearwater is prohibited from owning inshore fishing licences or entering into controlling agreements.
The change in ownership of Clearwater does not impact the application of these policies and regulations or change the application of the policies and regulations to our business. Clearwater does not own and has no intention of owning licences that fall under the PIIFCAF regulations, and Clearwater does not enter into controlling agreements for licences.
Our new ownership structure puts the Mi'kmaq at the boardroom table as owners of our company, but it does not alter or impact the day-to-day operations of the company. This provides stability for 1,500 good middle-class jobs across the 276 communities in Atlantic Canada that continue to help drive the economy in the region.
The whole Clearwater team is excited to embark on this next chapter of the company's journey. We're proud of the partnership between Premium Brands and the Mi'kmaq and this monumental step toward reconciliation and greater indigenous participation. We will continue to work collaboratively to build a sustainable and diverse Canadian seafood industry that supports thousands of jobs, generates significant economic activity in coastal communities and provides seafood products of the highest quality to consumers all over the world.
We look forward to your questions and thank all of you for your continued leadership and commitment to fisheries excellence in Canada.