Glooscap Ventures expands fishing fleet with acquisition of Knot Too Shore vessel

Yarmouth, Nova Scotia: Glooscap Ventures, the investment arm of Glooscap First Nation, has reached an agreement to acquire the fishing vessel Knot Too Shore F/V, including all gear and equipment, as part of its continued investment in community-owned fishing operations.

The transaction includes the purchase of both a lobster licence and a herring licence, marking the Nation’s first entry into the herring fishery. With this acquisition, Glooscap’s fishing fleet expands to five vessels, increasing harvesting capacity while supporting diversification across species.

The Knot Too Shore will operate in the Yarmouth fishing area and comes with an experienced captain and crew, who will continue working with the vessel. Glooscap First Nation welcomed the crew as part of its growing fishing operations.

“This purchase strengthens our fishing fleet and increases our ability to harvest lobster, while also giving us our first access to the herring fishery,” said Chief Sidney Peters. “Adding another vessel and experienced crew helps grow our operations on the water and supports stable, long-term work in our fishing business.”

The transaction reflects Glooscap First Nation’s long-term approach to economic development and investment, focused on acquiring and operating established, profitable assets and businesses that generate sustainable returns for the Nation and its members, without taking on debt. It also reflects Glooscap Ventures’ integrated ownership model, where the Nation owns and controls its businesses, strengthens its operations across sectors, and keeps economic benefits in the community to support future generations.

“This is about building long-term economic returns for the Nation,” Peters said. “Owning the vessels, licences and processing allows us to retain more of the value from the fishery and reinvest it in the community, creating steady benefits for our members over time.”

Glooscap Ventures also owns 100 per cent of Yarmouth Bar Fisheries, where lobster harvested by the fleet is processed and distributed to domestic and international markets. With this acquisition, Glooscap First Nation now holds seven LFA 34 lobster licences across five fishing vessels. The Nation also holds licences in groundfish, crab, clams, herring, and tuna.

About the Knot Too Shore F/V:

Built in 2018, the Knot Too Shore F/V is a modern fishing vessel with a gross tonnage of 44.44 tonnes. The vessel measures 49 feet in length, with a breadth of 29 feet and a depth of nine feet.

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