Wednesday, October 22, 2025

Monarch Mining Forced Into Creditor Protection By Investissement Quebec

Less than two weeks after Investissement Quebec called in a loan on Monarch Mining (TSX: GBAR), the firm has forced the miner into creditor protection.

Monarch revealed late tonight that Investissement Quebec filed an application with the Superior Court of Quebec under the Companies Creditors Arrangement Act to push the company into creditor protection. An initial order was granted, with PricewaterhouseCoopers Inc appointed as the monitor.

Monarch as a result expects the TSX to delist the company from the exchange. Laurie Gaborit, Guylaine Daigle, Michel Bouchard and Benoit Desormeaux meanwhile have resigned from the board of directors due to the filing, with Jean-Marc Lacoste to remain in an effort to implement the court approved process to solicit investment and sale proposals for the assets of Monarch.

READ: Monarch Mining Sees Investissment Quebec Call In Loan

The filing follows Investissement Quebec issuing a prior notice of exercise of a hyporthecary right in early November related to an outstanding $13.5 million loan that was issued in 2021. At the time, the loan was to enable the restart of the Beaufor Mine and Beacon Mill, which was expected to generate 100 jobs in the Abitibi-Temiscamingue region.

Mechanical and procurement issues, along with grade discrepancies, however lead to the mine being put into care and maintenance in 2022.

As of June 30, total assets of Monarch sat at $45.7 million, versus liabilities of $36.2 million, with the firms cash position sitting at jsut $231,000.

Monarch Mining last traded at $0.01 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Gold Royalty Looks To Acquire Royalties On Monarch Mining Properties For $15 Million

Gold Royalty Corp. (NYSE: GROY) announced today that it has signed a definitive agreement to...

Friday, July 23, 2021, 09:15:00 AM

Monarch Mining Upgrades Resource At Beaufor Mine To 92,700 Measured & Indicated Gold Ounces

Monarch Mining Corp (TSX: GBAR) this morning released an updated mineral resource estimate for its...

Thursday, January 28, 2021, 07:50:11 AM

Monarch Mining Expands McKenzie Break To The South With 36 Additional Claims

Monarch Mining Corp (TSX: GBAR) this morning significantly expanded the size of its McKenzie Break...

Monday, March 8, 2021, 09:16:58 AM

Monarch Mining To Reopen Beaufor Mine, Beacon Mill By June 2022

Monarch Mining Corporation (TSX: GBAR) announced today its plans to reopen its wholly-owned Beaufor mine...

Thursday, June 3, 2021, 08:41:21 AM

Monarch Mining Releases Updated Resource Estimate For McKenzie Break

Monarch Mining (TSX: GBAR) this morning released an update mineral resource estimate for its McKenzie...

Monday, February 8, 2021, 08:23:50 AM