Kerry McCluskey
Northern News Services

Iqaluit (Apr 01/02) - The discovery of a market for dietary seal oil has breathed new life into Natsiq Investments.

Adla Itorcheak, the manager of venture development at the Qikiqtaaluk Corporation, said last month that a buyer purchased 4.2 million of the capsules in December 2001. It has also purchased another three million of the supplements so far this year. The pills, rendered from ring seal fat, contain Omega-3, an agent that reduces cholesterol, keeps veins and arteries soft and maintains healthy cell membranes.

After realizing a potential market for the product exists, QC joined up with Nunavik's Makivik Corp. to create the equally-owned Natsiq Investments Corp. QC buys seals from Qikiqtarjuaq, while Makivik buys from a Nunavik hamlet.

Itorcheak said the project, initiated in 2000, almost fell through because a buyer couldn't be found. But, with the recent discovery, the corporation has now earned up to $164,000 in revenue.