October 01, 2014 2:52 AM ET

Diversified Financial Services

Company Overview of Investissement Quebec

Company Overview

Investissement Quebec 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 to dev...

1200 Church Road

Suite 500

Quebec, QC G1V 5A3

Canada

Founded in 1998

Phone:

418-643-5172

Fax:

418-528-2063

Key Executives for Investissement Quebec

Compensation as of Fiscal Year 2014.

Investissement Quebec Key Developments

Investissement Québec, Ressources Québec, Pétrolia Inc. and Etablissements Maurel & Prom S.A. Announce $100 Million Anticosti Joint Venture

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

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

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.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 31, 2013
Autobus Lion Inc.
Merger/Acquisition
October 25, 2013
Solotech Inc.
Private Placement
October 11, 2013
Neptune Technologies & Bioressources, Inc.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Investissement Quebec, please visit www.investquebec.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.