NWT Closes Doors to Press — But Opens Wallets for Executives
UNITY — Shareholders of Northwest Terminal Ltd. (NWT) are raising serious concerns after learning that members of the press are being barred from attending NWT’s Annual General Meeting scheduled for June 18 in Unity, SK.
NWT was originally built by local farmers and investors as a community-based inland grain terminal. Now, with shareholders facing nearly $28 million in cumulative losses since 2016 — including $20 million in just the past three years — management has closed the doors to public and media scrutiny.
“Shutting out the press at a time like this is deeply troubling,” says André L. Blais, founding shareholder and inaugural board member of Northwest Terminal. “This isn’t a private club. This company was built by the community. People deserve to know what is happening.”
Financial Losses & Executive Raises
According to NWT’s own financials:
2022: $1 million loss
2023: $10.3 million loss
2024: $8.6 million loss
Total losses since 2016: $28 million
Current BMO loan: over $41 million
Meanwhile, executive compensation has increased:
CEO salary rose from $400,000 (2022) to $427,000 (2024)
CFO salary doubled from $93,000 to $192,000
Total raises: $130,000 — during massive shareholder losses.
The board has also approved a $1.2 million "Change of Control Benefit" (golden parachute) for these same executives.
Shareholders Demand Transparency
Shareholders are asking why:
BMO continues to lend to a company facing repeated losses.
The board approved continued executive raises while shareholders absorbed massive
losses.
NWT was never placed in receivership to protect shareholder equity.
The board has remained silent while shareholder value evaporates.
“Blocking media from covering this meeting only adds to the appearance that management has something to hide,” says Blais. “Shareholders and the public deserve answers, not locked doors.”
The AGM will be held June 18, 2025, in Unity, Saskatchewan. Attendance is restricted to shareholders and proxy holders. Members of the press have been explicitly denied access.
Submitted by André L. Blais – Founder, Inaugural Board Member, NWT.