- Active Energy Group has welcomed an investigation into Métis procedures related to KAQUO Forestry & Natural Resources Development Corporation.

AEG's board said it noted comments in The Edmonton Journal and confirmed that it was aware that Jim Prentice in his role as minister of aboriginal affairs - he is also premier of Alberta - commissioned an investigation into the procedures followed by the three Alberta Métis Settlements prior to entering into the joint venture with KAQUO.

AEG has a 45% interest in the JV.

The company says the board was at all times and continues to be fully appraised of this on-going process, and has been and continues to be fully satisfied as to the legal and regulatory processes followed by the three Métis Settlements. AEG remains confident that its partners have at no time acted inappropriately in any way, and that this will be proven to be the case upon the conclusion of the investigation, which both the Métis Settlements and AEG welcome.

AEG says the board does not expect that the findings of the investigation will be adversely prejudicial to KAQUO's interests and continues to expect that negotiations concerning one of the offers announced yesterday will be concluded satisfactorily within several months. Chief executive Richard Spinks said: "We note that the office of the Right Honourable Jim Prentice, not in his capacity as Premier, but as Minister for Aboriginal Affairs of Alberta, referred to the investigation into the Métis procedures being in order to "clear the air", and we remain wholly confident in the timing referred to in our announcement yesterday that an agreement will be secured within several months." "It should further be noted that AEG and KAQUO welcome this investigation, and understand that there are procedures which the Minister is forced to follow regardless of the substance of any written complaint which he may receive. We fully endorse the Premier's transparent and independent approach to this matter, which bodes well for us as a public company investing into Alberta."

At 2:28pm: [LON:AEG] Active Energy Group share price was -4.75p at 4.63p

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