Québec PE funds assume stake in $28 mln Coulon mining exploration project
Québec City-based Virginia Mines Inc (TSX: VGQ) has concluded a transaction that will see Québec private equity funds participate in the financing of a $28 million accelerated exploration program on the Coulon mining project. Sodémex Développement LP, a subsidiary of the Caisse de dépôt et placement du Québec, the Fonds de solidarité des travailleurs du Québec FTQ, Fonds regional Nord-du-Québec and Sidex LP, will along with Virginia Mines invest in a new vehicle, Mines Coulon Inc, over a four-year period. The Coulon project holds undeveloped copper-zinc-silver resources located in Québec. The Caisse de dépôt launched the $250 million Sodémex fund in June 2013 to make investments in companies in natural resources sectors.
3 February 2014•4 mins read
