On June 28, 2018, Sphinx Resources Ltd, Canada Strategic Metals Inc., and Matamec Explorations Inc. jointly announced that Canada Strategic and Matamec have closed the agreement to create a new James Bay-focused gold exploration company to be named Québec Precious Metals Corporation (“QPM”). As a condition to the successful creation of QPM, Canada Strategic will acquire Sphinx’s three gold exploration properties by way of an asset purchase, including the 50% interest of Sphinx in the Cheechoo-Éléonore Trend project and will also acquire the 50% interest in such project held by Sirios Resources Inc.
Sphinx Resources Ltd. is an exploration company that focuses on the development of mineral exploration projects in Québec.
Osler, Hoskin & Harcourt LLP represented Sphinx Resources with a team consisting of Eric Levy, Hugo-Pierre Gagnon, Jeremy Brisset, and Matthew Oliver (Corporate & Securities).