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May 7, 2007 — NorTerra Inc. has reached an agreement to acquire Braden Burry Expediting (BBE). BBE is a northern logistics company and will complement NorTerra’s existing transportation portfolio. Since 1977, BBE has become a significant presence on the logistics scene, by connecting industry with the Northwest Territories and Nunavut. “We were pleased when BBE approached NorTerra to begin discussions about the sale of the company. They recognized that we had compatible business objectives, and given our history in the north, we are happy to be adding BBE to our portfolio,” explained NorTerra President, Carmen Loberg. “There’s potential here for us to build on the good work that has been done by BBE and to expand the company into other parts of Western Canada,” he said. The current President and CEO, Gord Stewart, has built a company committed to the growth of BBE clients, their employees and the communities they serve. “For over thirty years, we have been in the business of expanding and enhancing our service to clients. We remain dedicated to assisting industry to connect efficiently and effectively with – and within -- the north. Our sale to NorTerra allows that vision to continue, and ensures that our northern focus is maintained. This is a win-win business transaction,” concluded Stewart. – 30 – NorTerra Inc. (www.norterra.com) is a Canadian investment and management company, headquartered in Edmonton, Alberta, Canada. NorTerra is owned equally by the Inuvialuit Development Corporation (IDC) and Nunasi Corporation (Nunasi), representing the Inuvialuit of the Northwest Territories and the Inuit of the Nunavut, the aboriginal people of Canada’s Arctic. IDC and Nunasi are development corporations whose mandates are to maximize profits, develop economic opportunities, and create training and employment opportunities for the Inuvialuit and Inuit. IDC and Nunasi invest for collective and beneficial interest of approximately 30,000 registered Inuvialuit and Inuit beneficiaries. NorTerra owns 100% of four operating subsidiary companies: Northern Transportation
Company Limited, Canadian North Airlines, Weldco-Beales Manufacturing Inc.
and Northern Industrial Sales. For more information, please contact: Patrick Schmidt, Vice President
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