Fury Gold Mines Advances Quebec Precious Metals Acquisition Toward Completion
Deal News | Mar 26, 2025 | Globenewswire
Fury Gold Mines Limited and Quebec Precious Metals Corporation have made significant strides in their merger process, anticipated to complete before the end of April 2025. The acquisition has received necessary approvals, including no-objection from Corporations Canada and an interim order from the Quebec Superior Court for conducting a shareholder meeting. Fury has also received conditional clearances from the TSX and NYSE American. The merger details have been made available in QPM’s shareholder meeting circular, including Fury’s anticipated non-cash impairment effective December 2024. Moreover, Fury has announced the resignation of a director, Isabelle Cadieux. The merger reflects a strategic move to enhance Fury’s gold platform, while QPM's project portfolio, rich in gold, lithium, and rare earth minerals, promises potential growth. The companies underscore their commitments to governance, community engagement, and sustainable mining. However, forward-looking statements caution against uncertainties in the merger's success and highlight risks inherent in the approval processes.
Sectors
- Mining and Metals
- Mergers and Acquisitions
Geography
- Canada – Both Fury Gold Mines and Quebec Precious Metals are Canadian companies, with operations focused in Canadian mining regions.
Industry
- Mining and Metals – The article discusses companies involved in gold, lithium, and rare earth minerals exploration and development.
- Mergers and Acquisitions – The primary focus of the article is the merger process between Fury Gold Mines and Quebec Precious Metals.
Financials
- Not Specified – The article mentions a non-cash impairment charge but does not specify an amount.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fury Gold Mines Limited | Acquiring Company | Company | A Canadian-focused exploration company aiming to grow through the acquisition of Quebec Precious Metals. |
| Quebec Precious Metals Corporation | Target Company | Company | A corporation with a strong presence in gold, lithium, and rare earth minerals in Quebec. |
| Corporations Canada | Regulatory Authority | Government | Provided a no-objection letter necessary for the merger to proceed. |
| Quebec Superior Court | Judicial Authority | Government | Issued an interim order related to the shareholder meeting for the merger process. |
| Isabelle Cadieux | Resigned Director | Person | Formerly served on the Board of Directors of Fury Gold Mines. |