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The foundation will provide grants to charities that tackle issues such as digital literacy and basic healthcare and mental health support for people without homes. These grants will enable “even the smallest grassroots charities that are on the front lines in our communities — yet are often overlooked by large corporate donors,” Entwistle said.

“The foundation will help to remove barriers and connect our most vulnerable citizens to the resources they need. The potential of these young people is boundless, and it is our responsibility to support and nurture them,” Entwistle said.

The foundation will help to remove barriers and connect our most vulnerable citizens to the resources they need Darren Entwistle, Telus CEO

Telus first revealed its major philanthropic plans in August when it released its quarterly financial report.

It disclosed that it accepted an offer for Telus Garden, the office tower it built in partnership with developer Westbank Corp., and expected to record an estimated $170-million gain from the transaction by the end of September.

Concurrently, it said it would donate up to $120 million to a charitable foundation. It expected that approximately $100 million of the donation would be made in Telus common shares. It received approval from the Toronto Stock Exchange to amend its normal course issuer bid so one of its subsidiaries could purchase the shares for donation.

Telus planned to give the foundation a lump sum of $100 million in August, with the remaining $20 million given over the next 10 years, according to the quarterly report.