Peguis First Nation Treaty Land Entitlement Trust was created under an agreement signed with Canada and the Province of Manitoba on May 12, 2008. The Trust beneficiaries are the First Nation and its members. The Trust is made up of two sets of trustees, administration staff and an Implementation Office. The agreement settled outstanding promises of land that, for various reasons, remained unfulfilled under Treaty Number One of Aug. 3, 1871. Under the agreement, Peguis is entitled to select and acquire up to 166,794 acres of additional land as reserve lands. To fulfill its obligations Canada also agreed to pay Peguis First Nation the sum of $64,425,000.