Quebec government-owned Soquem and Capital d’Amerique have formed a joint venture named Sodmex to invest in junior exploration companies and mining producers.
Sodmex will acquire Soquem’s portfolio, which includes shares in about 30 junior mining companies. In addition to their initial investment of $10 million in Sodmex, Soquem and Capital d’Amerique will each invest $1 million annually over five years.
Denis Landry has been appointed president of Gestion Sodmex, which is in charge of managing the joint venture.
Capital d’Amerique holds equity investments in Richmont Mines (RIC-T), Mazarin Mining (MAZ-T) and Cambiex Exploration (CBX-T), and recently invested in a new project of Orleans Resources (OLS-M).
The creation of Sodmex will replace a provincially sponsored program aimed at stimulating mining investment.
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