Veteran Conservative MP Tony Clement is set to join the leadership race to take over the helm of his party.

The former cabinet minister will make an "important announcement" in Mississauga, Ont., on Tuesday night, alongside his wife Lynne, about the "future of the Conservative Party of Canada," according to a release.

"Obviously, I'm going to talk about the future of our party and our country, and I look forward to getting the feedback," Mr. Clement, who declined to confirm his leadership bid, said when reached by phone on Friday. "So far the feedback has been excellent."

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Mr. Clement, 55, has held a variety of roles in both the federal and provincial cabinets, including treasury board president and industry minister.

Organizers say Mr. Clement has been exploring his options for several months and has been travelling across the country since the last election, including to the Conservative convention in Vancouver in May and the Ontario Progressive Conservative convention in Ottawa last March. He is also expected to use social media during the campaign, with an active presence on Instagram and Snapchat.

"He is going to be making a very strong announcement with respect to some of the people that he's been listening to over the last little while," said John Capobianco, a former political adviser to the Ontario government who is expected to play a senior role on Mr. Clement's campaign.

"He's been able to deduce from all these conversations something that he thinks might be of value to the party and Canada at large."

Mr. Clement will join three other Conservative colleagues in the race to replace Stephen Harper: fellow Ontario MPs Kellie Leitch and Michael Chong, and Quebec MP Maxime Bernier. Other names being floated as possible candidates include former cabinet minister Peter MacKay and TV personality Kevin O'Leary.

Mr. Clement ran unsuccessfully for the leadership of the Ontario PCs in 2002 and the federal Conservatives in 2003.