Ressources Québec, a wholly owned subsidiary of Investissement Québec, has purchased a $50-million subordinated convertible debenture from Osisko Gold Royalties. The investment will enable Osisko to continue funding junior exploration and development companies with a special emphasis on Québec mining projects. Ressources Québec will be able to convert its debenture into Osisko common shares at a price of $19.08 at any time during the term of the debenture.
A major player in Québec’s mining industry, Osisko is helping to consolidate a number of promising projects and playing an active role in their management. It successfully launched and operated the Canadian Malartic mine (now owned by Agnico Eagle and Yamana) and discovered the Éléonore deposit (now owned by Goldcorp), two world-class gold deposits in Québec.
“Ressources Québec is the gateway for all mining investments in Québec,” noted Pierre Gabriel Côté, Investissement Québec CEO. “It supports resource companies at every stage of their projects, from exploration and development through to processing. This investment in Osisko shows our commitment to supporting Québec’s mining industry and growth-generating projects.”
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