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 announcing 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.”

Additionally, Cockrill argued that the 2021 Helium Action Plan could not cause a conflict of interest due to Cockrill not owning any interest in the two companies or serving as a member of cabinet at that time.

“In response, Mr. Cockrill argues that the 2021 Helium Action Plan cannot give rise to a conflict of interest. I agree - the existence of the November 15, 2021, Helium Action Plan would not raise reasonable and probable grounds in itself given that Mr. Cockrill was not a member of Cabinet and did not own any interest in Helium Evolution or Royal Helium at that time,” read an excerpt of the COIC’s letter, provided by Cockrill.

In a response to Cockrill’s statement, the Sask. NDP said it stands by its questions on the matter and criticized the minister for “mischaracterizing” the commissioner’s words and for “cherry-picking” a single sentence in the letter.

The opposition then provided an excerpt directly following the line Cockrill cited – highlighting the NDP’s argument that the plan covers actions through to 2030 and the partnership between the province and the two helium companies has continued since Cockrill has served in cabinet – therefore supporting the appearance of a conflict.

“It’s also disappointing that Minister Cockrill has released a statement that provides no clarity as to when he in fact purchased shares in these two helium companies, whether he was in cabinet, and in the case of Royal Helium, whether it was before that company was awarded certain tax incentives,” the NDP statement read.

“Ms. Conway stands by comments that the timeline of events raises the possibility of Minister Cockrill using his power and access as a member of cabinet to benefit his own private financial gain.”

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.