We hope this newsletter finds you well and enjoying the holidays.
Thank you to all of the Shareholders and their families that were able to join us at the MTNT Annual Meeting of Shareholders held July 2019 in McGrath, Alaska.
Since the Annual Meeting, it has continued to be a successful year for MTNT from the establishment of the MTNT Settlement Trust, to being named a recipient of the USDA High Energy Cost Grant as well as strengthening our revenue base to support MTNT’s mission.
We are happy to report that MTNT subsidiaries continue to receive contract awards while positively building on past performance. In September, MTNT Construction, LLC won a firm fixed price contract from the Defense Logistics Agency to install security enhancements and provide maintenance and repair work at the Defense Supply Center located in Columbus, Ohio.
Also in September, MTNT IT & Communications, LLC won a firm fixed price contract from the Department of the Army, USACE to provide renovations to buildings in Fort Bliss, Texas. The objective of this project is to renovate the buildings to provide administrative space with functional areas (e.g. physical exams) for the U.S. Army Support Soldier Readiness and Resiliency Center.
Additionally, as you will read in this issue of the newsletter, we are excited to announce the first dividend distributions from the MTNT Settlement Trust, including a special Elder dividend distribution to be distributed on December 13, 2019. These will be nontaxable distributions paid to MTNT Shareholders. If your address has changed, please make sure your change of address is received by the MTNT Anchorage office no later than Wednesday, December 11.
The Board and Management team have also been working diligently to settle the ANCSA 14(c)(1) land reconveyances in Nikolai. The process has been long and arduous but well overdue. MTNT is now working to expedite the issuance of Quit Claim Deeds for 19 lots in Nikolai to the original homesite owners and/or their beneficiaries – individuals who made claims to land in Nikolai prior to and/or on December 18, 1971 (the date ANCSA was enacted) based on their use of the land as a primary place of residence, business, subsistence campsite and/or for reindeer husbandry use.
It’s an exciting time as we close out 2019 and plan for the new year. We look forward to continuing to explore a diverse array of opportunities, streamline business processes and improve operational efficiencies to continue to provide meaningful benefits to our Shareholders and their families.
If you have any questions or need further information, please call MTNT at (907) 644-1200 or email info@MTNT.net.
On behalf of the entire MTNT team, we wish you a Merry Christmas and new year filled with peace, love and happiness.