Diversified Financial Services
Company Overview of Investissement Quebec Inc.
Investissement Quebec Inc. provides financial solutions for businesses in Quebec. It offers loans, loan guarantees, and equity investments to support businesses at various stages of their development; provides assistance for various companies to operating their subsidiaries; and administers tax measures and prospects foreign investment. It offers development capital and equity capital solutions, including customized financing for large-scale projects in the areas of consolidations, expansions, mergers, or acquisitions; support for investment projects that include providing financing for capital projects, and ESSOR programs for the cash flow to carry out investment projects; financing of refu...
600, de La Gauchetière
Montréal, QC H3B 4L8
Founded in 1971
Key Executives for Investissement Quebec Inc.
Chief Executive Officer, President and Director
Compensation as of Fiscal Year 2015.
Investissement Quebec Inc. Key Developments
Investissement Québec, Ressources Québec, Pétrolia Inc. and Etablissements Maurel & Prom S.A. Announce $100 Million Anticosti Joint Venture
Feb 13 14
Corridor Resources Inc. announced that it has signed a letter of intent with the Government of Québec, through its affiliates Investissement Québec and Ressources Québec, Pétrolia Inc. and Etablissements Maurel & Prom S.A. to create a joint venture that will appraise and potentially develop hydrocarbon resources on Anticosti Island, Québec. The commercial terms of the joint venture require Corridor and Pétrolia to transfer to a newly formed Québec limited partnership their respective Anticosti exploration licenses containing 891,906 acres and 639,037 acres, respectively, in exchange for Partnership interests of 29.30% and 20.70%. Concurrently, RQ and M&P will commit to spend $100 million collectively through the two phase program in exchange for a 50% interest in the Partnership; with RQ committing $56.67 million to receive a 28.33% interest and M&P committing $43.33 million to receive a 21.67% interest. Additionally, Corridor will transfer a 6.67% interest in the Partnership to RQ in exchange for a cash payment of $13.33 million; and a 0.97% interest in the Partnership to Pétrolia in exchange for a cash payment of $1.93 million. M&P will have the right to exit from the Partnership after a minimum of $35 million has been expended by the Partnership in conducting a minimum of 15 stratigraphic wells and the drilling and fracture stimulation of one well. The exercise of M&P of this exit right would be based solely on a reasonable analysis and interpretation of the technical data and results of the Phase 1 program accomplished at that time. In such event, M&P would relinquish its entire interest in the Partnership for no consideration. If this were to occur, in completing Phase 1, RQ would fund up to $13.26 million of the remaining Phase 1 commitment and would then own 50% of the Partnership. Corridor and Pétrolia would each become obligated to pay up to $3.37 million and each would then own 25% of the Partnership.
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