Fury Gold Mines to Acquire Quebec Precious Metals Corporation

Fury Gold Mines Limited and Quebec Precious Metals Corporation have announced an agreement for Fury to acquire all outstanding shares of QPM. This merger will form a company with a diverse gold and critical minerals portfolio spanning over 157,000 hectares in Quebec. The acquisition is structured through a plan of arrangement, offering a 33% premium on QPM's shares based on recent closing prices.

The merger promises enhanced scale and diversification, incorporating several promising gold and minerals assets. The Sakami project, a key asset, will benefit from further exploration under Fury's experienced management. QPM shareholders will receive 0.0741 Fury shares for each QPM share held. Upon merger completion, Fury will hold 95% of the new entity, while QPM will own 5%.

Completion of the transaction is anticipated by the end of April 2025, following all necessary approvals. QPM shares will be delisted from the TSXV post-merger.