- Quebec Precious Metals (QPM) shareholders have approved a merger with Fury Gold Mines.
- Shareholders will receive 0.0741 Fury Gold shares for each QPM share, valuing QPM shares at C$0.04.
- The merger awaits final court approval, with completion expected around April 28, 2025.
The shareholders of Quebec Precious Metals Corporation (QPM) have overwhelmingly approved the acquisition arrangement with Fury Gold Mines Limited (FURY). The decision was made during a special meeting held on April 22, 2025. Under the terms of the arrangement, Fury Gold will acquire all outstanding QPM shares, offering QPM shareholders 0.0741 Fury Gold shares for each QPM share. This exchange ratio implies a value of C$0.04 per QPM share, based on the 20-day volume-weighted average price (VWAP) as of February 25, 2025.
The arrangement received significant support, with 88.72% of the votes cast in favor. When excluding votes required to be excluded under MI 61-101, the approval rate was 88.77%. A quorum was reached with a 48.67% turnout, representing 50,449,020 shares, signifying strong shareholder consensus.
The transaction is now pending final approval from the Superior Court of Québec, expected on April 25, 2025. Upon receiving court approval and satisfying customary closing conditions, the arrangement is anticipated to conclude around April 28, 2025. Post-completion, QPM shares will be delisted from both the TSX Venture Exchange and the Frankfurt Stock Exchange.
