On February 17, 2016, Sodémex Développement s.e.c. entered into an agreement with the mining company Osisko Gold Royalties Ltd. (“Osisko”) to acquire a 15% interest in a portfolio of mining royalties including rights on Richmont Mines Inc.’s producing Island Gold Mine, Niogold Mining Corporation’s Marban and Noraltic sites and the Integra Gold Inc.’s Lamaque project. The value of the portfolio acquired by Osisko from Teck Resources Limited was more than $20 million.
Sodémex Développement s.e.c. is an investment fund whose only shareholder is the Caisse de dépôt et placement du Québec and whose mandate is to invest in companies in the natural resources sector that are in the development stage.