by Jeff Colbourne
Northern News Services

NNSL (Nov 17/97) - After much public scrutiny, Roland Bailey and Associates, NWT investments manager for the Aurora Fund, took out a full-page ad in last week's News/North and Nunatsiaq News, "setting the record straight" about the fund.

In the advertisement, five companies were listed receiving a share of $5.3 million in Aurora funds.

This is what News/North knows about the five NWT companies.

The Shoe Store was struck from the court registry of companies April 16, 1987. It was restored Jan. 22, 1993, with Garth Wallbridge and Associates as the registered office.

Directors are Alex Arychuk and Sheila Arychuk of Yellowknife. Shareholders are Alex Arychuk with 170 shares and Terri Arychuk 163 shares.

The Aurora fund loaned the Shoe Store money to purchase an aircraft.

The Cooperative Business Development Fund has its head office located at 1645 Inkster Blvd., Winnipeg, Man. Its registered office is at 321-C Old Airport Road.

As of May 1, 1997, its directors were Norm Bromberger of Calgary, Gina Dolphus of Deline, Richard Nichol of Saskatoon and Andrew Goussaert of Winnipeg.

Its second vice president is Appitaq Enuaraq of Pond Inlet, the president is William Lyall of Cambridge Bay and first vice-president is Hunter Tootoo, a former Rankin Inlet resident now living in Iqaluit.

The Aurora fund loaned money to the company to purchase digital telecommunications equipment.

GDC Air Leasing Ltd. was incorporated Sept. 4, 1997. Its registered office is located at the law office of Davis and Companies on the eighth floor of Northwest Tower in Yellowknife.

As of Sept, 1, 1997, its directors are president Robert A. Alexi Jr. of Fort McPherson and director Willard Hagen, Inuvik.

Its shareholders are Gwich'in Development Corporation, Fort McPherson and Tara Management.

The Aurora fund loaned money for aircraft purchase.

Aadrii Ltd. of Fort McPherson was incorporated April 25, 1996, and is registered at the law office of Cooper, Gullberg, Weist MacPherson in Yellowknife.

Its directors are Leon Courneya, Pierre Alvarez, Robert Alexie Jr. and Willard Hagen. Its shareholders are the Gwich'in Development Corporation, Yellowknife; and 923204 NWT. Ltd., Yellowknife.

The Aurora fund loaned money for a waste-heat distribution system.

Numbered company 3370755 Canada Inc. operating as West Air of Hay River.

Its registered office is at MacDonald and Associates, Hay River. It is registered under Part VI of the Companies Act, May 23, 1997.

Its directors are president John Pollard, Hay River; vice-president Merlyn Carter, Hay River; and secretary-treasurer Myles Carter, also of Hay River.

The Aurora fund loaned the company money to purchase an aircraft.