Minister of Education Jeremy Cockrill is facing a second investigation by the province’s Conflict of Interest Commissioner (COIC) – this time concerning investments into helium companies that maintain ongoing government contracts.
Cockrill is facing scrutiny from the Opposition for his investments into Royal Helium and Helium Evolution. The investments are listed in his disclosure forms for both 2022 and 2023.
COIC Maurice Herauf confirmed that his office was made aware of allegations early this year and decided to pursue the matter.
“I determined there were reasonable and probable grounds to proceed as directed by ss. 29(1) and 30(1)(a) of the Act,” he told CTV News in an emailed response. “The parties were advised of that determination in late July 2024. I have no further comment as this matter is ongoing.”
Opposition critic for ethics and democracy Meara Conway shared a letter she wrote to the COIC highlighting the potential conflict in an event Wednesday morning.
“After the Sask Party government announced their plan to put big money into the helium industry, Cockrill bought shares in two of the biggest private sector players partnering with government,” she told reporters.
“This isn’t just a clear conflict, it also points to the possibility of insider trading.”
In 2021, the Government of Saskatchewan announced its Helium Action Plan, expanding the Saskatchewan Petroleum Innovation Incentive (SPII), a tax credit that covers 25 per cent of eligible costs, to include helium projects.
Saskatoon-based Royal Helium was included in a news release announced the plan.
Following the NDP’s event, Cockrill released a statement, dispelling the notion he was involved in the province’s helium plan and criticizing the NDP’s accusations.
“I did not participate in any government decisions regarding the helium industry nor did I have any inside information regarding the industry. I am fully cooperating with the Conflict of Interest Commissioner’s review and am confident that I acted appropriately,” it read.
“While I understand the Commissioner is proceeding with a review under Section 3 and 15 under the Act, there is no review of insider trading under Section 4. Ms. Conway is aware of that but chose to make this unfounded allegation at her media event today.”
Cockrill is already under investigation by the COIC regarding his family business, Fortress Windows and Doors receiving $179,137.46 in contracts from the Battleford Housing Authority in 2021.
In addition, the business signed multiple contracts with SaskTel in 2020 and 2021. Cockrill worked part time as a salesperson during that period, according to his disclosure.
-More to come…