Fury Completes Acquisition of Quebec Precious Metals
Deal News | Apr 29, 2025 | Globenewswire
Fury Gold Mines Limited announced the completion of its acquisition of Quebec Precious Metals Corporation (QPM) through a court-approved plan of arrangement. As a result, Fury has issued approximately 8.4 million shares to QPM shareholders and integrated QPM's options and warrants. The transaction increases Fury's exploration properties in Quebec, enhancing its scale and diversification. Former QPM CEO Normand Champigny highlighted the transaction as a pivotal step, offering new prospects for asset advancement and benefit to shareholders. Key legal advisors for the transaction were McMillan LLP and BCF Business Law. Both firms see potential in the combined assets amid a favorable gold market, aiming at operational efficiency and long-term shareholder value.
Sectors
- Mining and Exploration
- Finance
Geography
- Canada – Both Fury Gold Mines and Quebec Precious Metals Corporation are Canadian companies, and the acquisition concerns mining assets in Quebec.
- Quebec – The acquired exploration properties, including the Sakami, Elmer East, and Kipawa projects, are located in Quebec.
Industry
- Mining and Exploration – The acquisition involves gold and critical minerals exploration companies, expanding Fury's exploration assets in Quebec.
- Finance – The acquisition involves significant financial transactions and share exchanges under a court-approved plan of arrangement.
Financials
- 8,394,137 Fury Shares – The number of Fury shares issued to former QPM shareholders under the acquisition agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fury Gold Mines Limited | Acquiring Company | Company | A Canadian-focused exploration company with a multi-million-ounce gold platform. |
| Quebec Precious Metals Corporation | Target Company | Company | A company with significant exploration assets in the Eeyou Istchee James Bay territory of Quebec. |
| McMillan LLP | Legal Advisor | Company | Acting as Canadian legal advisor to Fury in connection with the acquisition. |
| BCF Business Law | Legal Advisor | Company | Canadian legal counsel to Quebec Precious Metals Corporation for the acquisition. |
| Tim Clark | CEO of Fury | Person | Chief Executive Officer of Fury Gold Mines Limited. |
| Normand Champigny | CEO of QPM | Person | Chief Executive Officer and Director of Quebec Precious Metals Corporation. |