Fonds de solidarité FTQ and SIDEX Join Forces to Launch FIELD-ACTION 2018

A new approach to financing junior mining companies

Montréal, April 30, 2018 – SIDEX and the Fonds de solidarité FTQ (the “Fonds”) have joined forces to launch “FIELD-ACTION 2018,” a new initiative designed to encourage junior mining companies to perform their fieldwork in Québec while at the same time supporting their working capital.

The $6-million initiative is available for a limited time and is open to all companies with a project in Québec that meets the missions of SIDEX and the Fonds.

Designed for prospecting, mapping, overburden stripping, sampling and ground geophysics FIELD-ACTION offers financing of up to $200,000 per company, i.e. $100,000 for exploration and $100,000 in working capital. SIDEX and the Fonds will offer equity or convertible debenture financing based on market conditions.


“The involvement of the Fonds de solidarité FTQ this year greatly improves FIELD-ACTION. This summer, companies will be able to focus on field exploration, discover showings and generate targets to continue the work in the fall.”
Michel Champagne, President and Chief Executive Officer, SIDEX

“FIELD-ACTION is a transformative initiative for Québec’s junior mining companies, launched by SIDEX, a partnership with the Québec government that has been supported by the Fonds de solidarité FTQ since 2001. This investment reaffirms our long-standing commitment to a sector that is vital to the economy of many Québec regions.”
Dany Pelletier, Investment Vice-President, Natural Resources, Construction and Construction Materials, Fonds de solidarité FTQ

Eligibility conditions

In order to qualify for financing, companies must meet certain criteria, among others:

  • Be listed on the TSX-V;
  • Have no working capital deficiency at the time of application;
  • Have a sustainable development policy in place;
  • Have an independent board of directors (as per Regulation 52-110 of the Securities Act);
  • Have administrative expenses that are in line with the company’s size.

Interested eligible companies are invited to submit an application containing the required information. Complete files will be processed by date of receipt and accepted until October 31, 2018 or until the $6-million budget is exhausted. SIDEX and the Fonds will base their decision on the technical quality of the projects and the strategy of the management team. A due diligence and approval process has been put in place to speed up the investments.

The proposed exploration program must be completed before November 30, 2018 and a summary of the work performed and a statement of expenses sent to SIDEX by December 31, 2018.

Applicants will be charged a 3% application fee, which includes preparation of the legal documentation by SIDEX and the Fonds.



Program description that details duration and financing criteria.

The following documents must be submitted along with the application.


Company related:

  • A copy of the company’s sustainable development policy
  • Documents on the company’s current financial situation:
    • Last quarter
    • Confirmation of positive working capital on the date of application and description of any type of obligation in respect of exploration expenses and payments to maintain an interest in the company’s properties in 2018
  • Evaluation of the board of director’s independence in the information circular

Project related:

  • Summary report on the project, including:
    • Brief overview
    • Property rights
    • Work program and objectives
    • Proposed budget

Post-investment, due by December 31, 2018

The work intended by the financing must be completed by November 30, 2018 and a summary report submitted by December 31, 2018 containing:

  • A description of the work performed
  • A statement of expenses


Created in 2001, SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base. SIDEX promotes new entrepreneurs and innovation in exploration and has invested more than $90 million to date in mineral exploration companies and their projects in Québec.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $13.7 billion in net assets as at November 30, 2017, the Fonds has helped create and maintain 186,440 jobs. The Fonds has more than 2,700 partner companies and over 645,000 shareholder-savers.

Information for media representatives only:

Michel Champagne
President and CEO
Telephone: 514 383-2612
Email: [email protected]

Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587
Email: [email protected]