Fury Gold Mines Completes Acquisition of Quebec Precious Metals Corporation

Core Viewpoint - Fury Gold Mines Limited has successfully completed the acquisition of Québec Precious Metals Corporation, enhancing its exploration portfolio in Québec and positioning itself for growth in the gold and critical minerals sectors [1][3][4]. Transaction Details - The acquisition was executed under a court-approved plan, with former QPM shareholders receiving 0.0741 Fury Shares for each QPM Share held, resulting in the issuance of 8,394,137 Fury Shares [2]. - The properties acquired include the Sakami project, Elmer East project, and Kipawa project, totaling over 157,000 hectares [3]. Management Commentary - Fury's CEO Tim Clark emphasized the transformative nature of the transaction, which doubles the company's footprint in the Eeyou Istchee James Bay territory and aims to create a more robust platform for exploration and growth [4]. - QPM's CEO Normand Champigny expressed confidence in the combined company's ability to accelerate exploration efforts, particularly at the Sakami project, leveraging Fury's resources and expertise [4]. Market Impact - Trading of QPM Shares on the TSX Venture Exchange has been halted and will remain so until delisting, expected by April 30, 2025 [4]. - Following the delisting, QPM plans to cease being a reporting issuer in Canada [4]. Company Background - Fury Gold Mines Limited is focused on exploration in Canada, holding a significant position in Dolly Varden Silver Corp and aiming to grow its gold platform through rigorous project evaluation [7]. - QPM has a large land position in the Eeyou Istchee James Bay territory and is advancing its Sakami gold project and a lithium showing on the Elmer East project [10].