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TORONTO — Parks Canada says it has reached an agreement to acquire a privately owned parcel of land in Ontario’s Georgian Bay area to expand the Bruce Peninsula National Park.

The agency says the 1,324-hectare property includes 6.5 kilometres of uninterrupted shoreline, and is home to at least 10 federally listed species at risk and dozens of ecologically, geologically and culturally significant cave systems.

READ MORE: Parks Canada prepares to open largest wildlife overpass of its kind in Yoho National Park

The property was publicly listed for $20.6 million, but the agency says the final purchase price will not be made public until the transaction is complete.

Federal Environment Minister Catherine McKenna says the funds for the purchase are coming from the 2018 federal budget, which included $1.3 billion to protect nature, parks, and wild spaces.

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She says the Bruce Trail Conservancy also made a significant financial contribution towards the purchase as a portion of the famous Bruce Trail runs through the property.

Parks Canada says the acquired land forms a significant part of the UNESCO Niagara Escarpment Biosphere Reserve.