Agreement With the Fort McMurray Regional Airport (FMAA)
AOS’s agreement with the FMAA will support the airport’s ongoing operations. Our formal agreement was reached in 2009 and includes:
- A gross overriding royalty (GORR) entitling the FMAA to bitumen production revenue from the Clearwater Project; and
- Stock purchase warrants in AOS, enabling the FMAA to share in the market value that we believe will be realized with the success of Clearwater.
We are very pleased and proud of this agreement, which we believe is truly win-win-win. AOS and the FMAA each gain through the agreement – and so do local businesses and residents, who will benefit from the airport’s growth and fiscal stability.