Fonds Capital ressources naturelles et énergie (CRNE) (Natural Resources and Energy Capital Fund)

By mmuise
Description:

The Natural Resources and Energy Capital (CRNE) Fund helps to increase the development of the mining, hydrocarbon, natural resources and natural energy sectors, to support the revival of the Plan Nord, and to attract investment and new expertise to Québec. All projects must have a minimum value of at least $5M. Unless authorized by the government, the CRNE fund never invests in a project on its own. The total amount of government aid must not exceed 50% of the total cost of a project.


Comments on Funding:

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Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be public (listed) and private companies as well as limited partnerships;
  • be companies that have its head office or a main center of decision-making in Quebec.
Application Steps:

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Documentation Needed:

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Other Things to Note:

1. The investment from the CRNE Fund takes the form of equity and participating shares with voting rights, which may be accompanied by subscription warrants, or units if it concerns a limited partnership.
2. Any Proposal prepared by IQ must include a CRNE Fund investment of at least 2 million dollars. The targeted funding rounds must have a minimum equity value of 10 million dollars. However, if the company is publicly traded, the CRNE Fund investment can be a minimum of 1 million dollars in a funding round of at least 5 million dollars.
3. For projects in the forestry and energy sectors, excluding hydrocarbon exploration and production projects, the targeted investment can be a minimum of 1 million dollars in a funding round of 5 to 10 million dollars in equity. In such cases, the equity round must represent between 20% and 33% of the project cost.

About the author
mmuise