Diversified Financial Services
Company Overview of Investissement Quebec Inc.
Investissement Quebec Inc. provides customized financial solutions and investments to businesses in Québec. It offers loans, loan guarantees, or quasi-equity financing; eco-financing to carry out projects supporting environmentally sound business practices; financing of refundable tax credits program for export businesses; development capital for businesses that want to prosper in Québec; and loans or loan guarantees for the creation, maintenance, and development of cooperatives, their subsidiaries, and non-profit organizations. The company also provides capitalization loans or arranges the purchase of preferred shares to start up a business in the social economy sector, to maintain it, or t...
600, de La Gauchetière
Montréal, QC H3B 4L8
Founded in 1971
Key Executives for Investissement Quebec Inc.
Chairman, Chief Executive Officer and President
Compensation as of Fiscal Year 2014.
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.
Investissement Québec Announces Board Changes
Jul 3 13
Jean-Claude Scraire was named by the Quebec cabinet as chairman of the board of Investissement Québec. He replaces Jean Bazin who had six months remaining in his contract. Scraire was previously head of the Caisse de dépôt et placement du Québec.
Investissement Québec Appoints Jean-Claude Scaire as President and CEO
Jul 3 13
Jean-Claude Scaire was named by the Quebec cabinet as president and CEO of Investissement Québec. He replaces Jacques Daoust, previously with the Laurentian Bank, who had six months remaining in his contract. Scaire was previously head of the Caisse de dépôt et placement du Québec.
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