Posted on August 16, 2016
Continent 8 Technologies PLC announced today that the joint shareholding previously held by the Mohawk Council of Kahnawake and Tewatohnhi’saktha was repurchased in full on August 1, 2016 by the company.
The holding, which has been in place since the company’s incorporation in the Isle of Man in 2006 has served both Continent 8 and the Mohawk people well. In recent years though, the Continent 8 business has seen significant global growth, diversity into new markets and the progressive introduction of new products and services across numerous geographies.
Whilst this growth has clearly benefitted all parties it has become increasingly important that Continent 8 retains and demonstrates full control of all aspects of its affairs to ensure maximisation of opportunities as an independent service provider with high growth aspirations in new markets.
As such, the move which is being viewed as significantly beneficial for all parties allows both Continent 8 and the Mohawk Council to continue these growth aspirations independently, yet also sees a further long term commitment to the continuation of the close working relationship which has underpinned the joint success in Kahnawake to date.
Michael Tobin co-founder and CEO of Continent 8 stated “This transaction is a win-win for all concerned, and it will allow Continent 8 to continue its growth and diversification strategy that will meet clients’ evolving requirements. We look forward to continuing our relationship with Kahnawake over the years to come”.