STATEMENT OF DEVELOPMENT CAPITAL INVESTMENTS, AT COST AS AT NOVEMBER 30, 2014

Transcription

1 STATEMENT OF DEVELOPMENT CAPITAL INVESTMENTS, AT COST

2 INDEPENDENT AUDITOR S REPORT To the Directors of the Fonds de solidarité des travailleurs du Québec (F.T.Q.) We have audited the statement of development capital investments at cost of the Fonds de solidarité des travailleurs du Québec (F.T.Q.) as at November, 14 ("the statement"). The statement has been prepared by management based on the dispositions of article 18 of the Regulation respecting development capital investment fund continuous disclosure. Management's Responsibility for the Statement Management is responsible for the preparation of the statement in accordance with the dispositions of article 18 of the Regulation respecting development capital investment fund continuous disclosure, for such internal control as management determines is necessary to enable the preparation of the statement that is free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on the statement based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing stards. Those stards require that we comply with ethical requirements plan perform the audit to obtain reasonable assurance about whether the statement is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts disclosures in the statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation of the statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the statement. We believe that the audit evidence we have obtained is sufficient appropriate to provide a basis for our audit opinion. Opinion In our opinion, the statement of development capital investments at cost of the Fonds de solidarité des travailleurs du Québec (F.T.Q.) as at November, 14 is prepared, in all material respects, in accordance with the dispositions of article 18 of the Regulation respecting development capital investment fund continuous disclosure. 1 CPA auditor, CA, public accountancy permit No. A Montréal, December 23, 14 1

3 Units 1988 Fonds de développement emploi-montréal inc. 1,338 1,338 V010 TransForce inc. 9,955 9,955 V Entreprises québécoises publiques (Appendix A) 287,7 287,7 V Bestar inc. 1, ,813 V022 Transat A.T. inc. 38,274 38,274 V B.M.B. (Îles-de-la-Madeleine) inc V02102 Fonds immobilier de solidarité FTQ I, s.e.c. 28,975 28,975 V02273 Fonds locaux de solidarité FTQ, s.e.c. 38,000 38,000 V Polycor inc. 9,738 9,738 V Fonds immobilier de solidarité FTQ II, s.e.c.,000,000 V02828 Groupe Robert inc. 21,9 12,991 34,931 V019 Le Devoir inc. 1,3 1,3 V02780 SSQ, Société d'assurance-vie inc. 221,363 66, ,463 V Corporation Financière Brome inc. 2,991 2,991 V Château M.T. inc. 2,610 2,610 V03133 Fonds régional de solidarité Abitibi- Témiscamingue, société en Fonds régional de solidarité Côte-Nord, société en Fonds régional de solidarité Estrie, société en Fonds régional de solidarité Lanaudière, société en Fonds régional de solidarité Laurentides, société en Fonds régional de solidarité Laval, société en Fonds régional de solidarité Mauricie, société en 16,105 16,105 V ,985 21,985 V03593,114,114 V ,587 12,587 V ,532 21,532 V ,524 21,524 V ,708 12,708 V03588 Mines Virginia inc. 9,712 9,712 V Fonds d'investissement de la culture et des communications, société en 26,700 26,700 V03748 Fonds régional de solidarité Bas Saint-Laurent, société en Fonds régional de solidarité Chaudière- Appalaches, société en Fonds régional de solidarité Gaspésie-Îles-de-la- Madeleine, société en Fonds régional de solidarité Montérégie, société en Fonds régional de solidarité Outaouais, société en 16,160 16,160 V ,574 18,574 V ,573 12,573 V ,478 24,478 V03600,478,478 V

4 Units 1996 Fonds régional de solidarité Québec, société en Fonds régional de solidarité Saguenay-Lac-Saint- Jean, société en 24,976 24,976 V ,971 24,971 V03586 Groupe Solmax inc. 1,618 8,859 10,477 V036 Mines Richmont inc. 9,219 9,219 V Fonds régional de solidarité Nord-du-Québec, société en 12,000 12,000 V Québec inc. (Manoir Richelieu),579,579 V16026 Exploration Azimut inc V04288 Fonds régional de solidarité Centre-du-Québec, société en 9,616 9,616 V04352 Niocan inc V04287 Société en Manoir Richelieu 1,4 1,4 V03184 TSO3 inc. 35 5,236 5,236 V La Financière des entreprises culturelles (FIDEC), société en 00 ARGO II : The Wireless-Internet Fund - Limited Partnership V ,318 11,318 V04893 Atrium Innovations inc ,180 22,180 V048 Genopole 1er Jour S.A V05387 Groupe HNZ inc. 24,633 24,633 V04958 GTI V, société en 8,043 8,043 V04396 Marketing Léger inc. 1,000 1,0 2,0 V Fonds Bio-Innovation, société en 35 31,592 31,592 V05076 Investissement Premières Nations du Québec, société en 2,000 2,000 V04956 Kruger Wayagamack inc. 13,351 13,351 V03772 Novacap II, société en 3,264 3,264 V04981 Partenaires MidCap V054 SIDEX, société en,000,000 V FinTaxi, s.e.c. 14,0 53,600 68,000 V05683 Fonds immobilier de solidarité FTQ inc , ,839 V050 Junex inc V05601 Lumira Capital I Québec société en 35 3,999 3,999 V057 Produits Intégrés Avior inc. 2,0 2,0 V05148 Vimac Early Stage Fund L.P. 8,992 8,992 V Fonds Vimac Milestone Medica Nord s.e.c. 35 5,550 5,550 V05951 Le Fonds Entrepia Nord, s.e.c. 7,612 7,612 V05841 Mines de la Vallée de l'or ltée V06004 Stella-Jones inc. 35,938 35,938 V Canada inc. (Transat A.T.) 4,647 4,647 V

5 Units 04 Corporation Aurifère QMX 0 0 V06287 Fonds d'investissement MSBI, société en 8,927 8,927 V05710 Octasic inc. 1,741 6,264 8,005 V05549 Trencap s.e.c , ,516 V06277 Vimac ESF Annex Fund L.P V Québec inc. 1 1 V04338 A.M. Pappas Life Science Ventures III, LP 35 7,868 7,868 V11759 Addenda Capital inc. 71,6 71,6 V13108 Camoplast Solideal inc. 39,551 39,551 V04935 Château Bonne Entente inc. 1, ,244 V062 FIER Partenaires, société en 26,5 26,5 V06260 Fonds Brightspark II, s.e.c. 1,367 1,367 V06280 Fonds d'opportunités canadiennes HRS, s.e.c.,484,484 V06076 Média Groupe inc. 2,000 2,042 4,042 V068 Metro inc. 73,948 73,948 V117 ProQuest Investments III, L.P. 35 3,553 3,553 V06351 RHO Fund Investors 05, L.P. 3,758 3,758 V116 SAIL Plein Air inc. 6,000 5,196 11,196 V Canada inc. (Maison des Futailles) 21,861 21,861 V11897 Boutique Linen Chest (Phase II) inc V167 Capital Financière Agricole inc. 2,366 2,366 V061 Capital St-Laurent, s.e.c. 11,3 11,3 V11478 Corporation développement Knowlton inc. 32,374 32,374 V12363 Coveo Solutions inc. 6,318 6,318 V121 Emerald Cleantech Fund II L.P. 6,469 6,469 V11778 Entreprises SMD ltée 3,500 3,500 V1 Exploration Dios inc V11976 FCPR Aerofund 7,576 7,576 V11792 Fiducie du Chantier de l'économie sociale 12,000 12,000 V06285 Fonds CTI sciences de la vie, s.e.c. 35 2,865 2,865 V11965 Fonds ID s.e.c. 10,000 10,000 V11741 Fonds Propulsion III s.e.c. 5,6 5,6 V06283 Gestion Rivière du Diable inc. 2, ,291 V117 Les alcools de spécialités Greenfield inc.,000,000 V12378 NAPEC inc. 19,985 1,660 21,6 V121 Relay Ventures Fund L.P. 3,424 3,424 V124 Ressources Cartier inc V131 Rho Canada Capital de Risque, s.e.c. 19,8 19,8 V11984 Société en Agechem 35,756,756 V06248 Sonaca S.A V127 4

6 Units 06 VantagePoint Venture Partners 06 (Q), L.P. 18,631 18,631 V Canada inc. (North Country Slate) V164 Envivio, inc. 5,751 5,751 V122 Exploration Midl inc V131 Fonds d'investissement inovia II, société en 3,924 3,924 V12317 GO capital s.e.c. 1,6 1,6 V116 Groupe Bikini Village inc. 1,275 1,275 V12655 Investissement (12348) s.e.n.c. (Bsintown Group) 12,029 12,029 V12348 Les Industries Spectra Premium inc. 10,000 2,603 12,603 V062 MMV Financial inc. 1 1 V12373 Novacap Industries III, s.e.c. 24,698 24,698 V12234 Novacap Technologies III, s.e.c. 5,010 5,010 V195 Partenaires Médias Remstar, s.e.c. 2,000 2,000 V11979 ProQuest Investments IV, L.P. 35 6,918 6,918 V12276 Soccrent 06, société en 11,380 7,0 18,780 V11929 Société de gestion d'actifs forestiers Solifor, société en 0,000 0,000 V184 Vertex III (C.I.) Fund, L.P. 2,869 2,869 V Administration LVER inc. 1,850 1,850 V13113 Alimentation Coop Port-Cartier V12496 BDR Capital s.e.c. 64,133 64,133 V13558 Cogeco Câble inc. 100, ,000 V12924 Corporation Financière L'Excellence ltée 100, ,000 V13127 Dalkotech inc. 5,0 0 5,700 V132 Exploration NQ inc V13232 Fonds soutien Montréal parallèle, s.e.c. 2,000 2,000 V13118 G.D.G. Environnement ltée 2,500 2,500 V160 Gestion ACCEO inc. 22,870 6,0 29,1 V135 Gestion TFI inc. 1,000 1,000 V14754 GLV inc. 32,061,000 57,061 V135 Groupe AGF inc.,000 4,0 24,0 V141 Groupe Gecko Alliance inc. 1,470 1,470 V12870 HR Stratégies inc V131 Ontario Venture Capital Fund LP 5,049 5,049 V132 Placements Montrusco Bolton inc.,055,055 V13132 Rho Ventures VI, L.P. 19,969 19,969 V129 Sonaca Montréal inc. 4,473 4,473 V195 VantagePoint Cleantech Partners II, L.P. 19,938 19,938 V N Plus inc. 14,166 14,166 V

7 Units 09 A.M. Pappas Life Science Ventures IV, LP V12898 ADS inc. 3,600 3,600 V13601 Champlain Capital Partners, L.P. 3,791 3,791 V136 Corporation Nuvolt inc V181 FCPR Aerofund II 13,664 13,664 V13661 Fonds Cycle Capital I, s.e.c. 18,360 18,360 V13823 Gestion hôtelière REVPAR inc V133 Gestion Juste pour Rire inc V12916 Holding Smardt inc. 12,121 5,000 17,121 V321 Les Vies Laroche inc. 2,000 2,000 V01417 MECA DEV S.A.S. 21,502 11,809 33,311 V14354 Média Cineflix inc. 10,9 10,9 V13243 Premier Tech ltée 39,813 39,813 V01387 Société en Groupe CH,000,000 V ,6 Teraxion inc. 6,167 6,167 V05734 Transcontinental inc. 100, ,000 V13756 VC, société en 121, ,037 V Dalkotech International inc. 1 1 V14868 Foliot Management inc. 7,000 2,500 9,500 V14270 Fortress Paper Ltd 7,000,000 32,000 V143 Groupe Technosub inc. 2,4 2,4 V065 IPL inc.,000,000 60,000 V01975 Nemaska Lithium inc V14826 Radialpoint Safecare inc. 1,917,918 V142 Ressources Géoméga inc V14798 Royal Nickel Corp. 0 0 V14827 Saladexpress inc. 8,318 8,318 V03768 Scierie Dion & Fils inc. 1,000 1,000 V14350 Serdy Média inc. 2, ,833 V13802 Société de Diamant Stornoway 11,605 14,700 26,5 V14396 SSQ, Société d'assurances générales inc.,000,000 V14428 Twist, société en 6,000 6,000 V Abitibi Royalties inc. 8 8 V313 Acquisio inc. 4,429 4,429 V12982 AmorChem, société en 35 4,664 4,664 V14317 Bombardier inc. 49,779 49,779 V13647 Cogeco inc.,000,000 V279 Corporation Aurifère Aurvista 0 0 V14828 Fonds Alpha+ Montrusco Bolton,095,095 V13562 Fonds Capital Culture Québec, société en 10,000 10,000 V

8 Units 11 Fonds d'amorçage Cycle-C3E, s.e.c. 5,077 5,077 V14929 Fonds d'investissement pour la relève agricole (FIRA), s.e.c. 3,667 3,667 V145 Fonds d'investissement Réal, s.e.c. 6,803 6,803 V14927 Fonds Relève Québec, s.e.c. 2,710 2,710 V14948 Fonds stratégique à rendement absolu HRS, s.e.c. 50,000 50,000 V147 Groupe Crête division St-Faustin inc. 1,133 1,133 V14867 Groupe Meloche inc. 3,000 3,000 V14936 Groupe TMX Limitée 97,600 97,600 V039 JV Driver Corporation inc. 16,000 16,000 V14834 Les Chantiers de Chibougamau ltée 2,0 2,0 V14814 Les Investissements Nolinor inc. 1,1 1,1 V14769 Magnus Poirier inc V002 Milestone Pharmaceutiques inc. 35 5,7 5,7 V14985 Nunavik Nickel Mines Ltd V314 Ressources Monarques inc. 5 5 V054 Rona inc. 35,375 35,375 V367 Scinave Spa in Whistler inc. 1,861 1,861 V Québec inc. (Forage Boréal) 2,0 2,0 V Québec inc. (Casavant Frères) 2,000 2,000 V284 Abipa Canada inc. 9,600 9,600 V4 Agritibi R.H. inc V495 Athos services commémoratifs inc.,000,000 V783 Erfa Canada 12 inc. 35 3,106 3,106 V297 Financement YPG inc. 7,701 7,701 V16027 Fonds de solidarité FTQ investissements croissance I, s.e.c. Fonds de solidarité FTQ Investissements technologiques I, s.e.c. 6,897 6,897 V817 4,000 4,000 V3 Germain Larivière inc. 1,174 1,174 V14464 Gestion SMS inc. 1 1 V483 GLyPharma Thérapeutique inc. 35 2,227 2,227 V331 Groupe Colabor inc.,000,000 V06111 Groupe MBI inc. 19, ,927 V261 Groupe PCM inc V362 Groupe QuébéComm inc. 3,000 3,000 V14747 Innovation Thrasos inc. 35 7,291 7,291 V147 La Coop fédérée 75,000 75,000 V6 Les Bois de plancher P.G. inc. 2,000 2,000 V13578 Les entreprises de divertissements Muse inc. 4,500 4,500 V14680 Les Industries Touch inc V

9 Units 12 Lumira Capital II, société en 35 5,894 5,894 V13774 Maibec inc. 8,644 2,136 10,780 V002 Mine Barlow inc. 0 0 V436 Produits alimentaires Viau inc. 5,000 5,000 V14878 Société en Free 2 Play 6,900 6,900 V14906 Sojag inc. 3,3 3,3 V446 SSQ, Société de participation mutualiste inc. 78,050 78,050 V372 Supermétal Structures inc. 3,618 3,618 V05411 Technologies Interactives Mediagrif inc. 4,7 4,7 V03963 Yellow Média Limitée 1,747 1,747 V Canada inc. (Groupe DCM) 8,000 8,000 V9 Accedian Networks Corporation 1,2 1,2 V181 Adetel Group 4,691 4,691 V890 AJW Technique inc. 12,000 12,000 V836 Asmacure inc V06167 Attraction Média inc. 4,000 1,500 5,500 V11876 Auberge & Spa le Nordik inc V16361 Bsintown Group inc. 5,168 5,168 V16328 Corporation d'or Intégra V17283 Distech Contrôles inc. 13,000 13,000 V06350 Entreprises Minières du Nouveau-Monde inc. 0 0 V867 FCPR Aerofund III 6,052 6,052 V929 Fonds d'investissements Serling VII (Canada), s.e.c. 35 2,502 2,502 V642 Humania Assurance inc. 10,000 10,000 V294 Les Brasseurs du Nord inc.,750,750 V958 Les Réseaux Accedian inc. 7,764 7,764 V11761 Les Serres du St-Laurent inc. 1,000 1,000 V03758 Lunetterie New Look inc.,000,000 V17373 Macadamian Technologies inc V170 Propair inc V160 Ressources Falco ltée V16292 Vision 7 International ULC 14,000 14,000 V inc. 6 6 V18194 Acquisition Glacier II inc ,895 58,895 V17590 Adventure Gold inc V137 Argos Therapeutics inc V710 AV & R Vision & Robotiques inc. 1,373 1,373 V961 Coalision inc.,000,000 V06297 Colo-D inc. 2,175 3,750 5,9 V18185 Decolin inc. 5,000 5,000 V

10 Units 14 Densi Corporation 2,000 2,000 V175 Double A Corp inc. 3,000 3,000 V17235 Enerkem inc. 11,0 11,0 V121 Fonds de solidarité FTQ investissements croissance II, s.e.c. 1,600 1,600 V18165 Fonds Valorisation Bois, s.e.c 5,000 5,000 V486 Groupe Acier Pointe-Claire / Green Valley inc. 2,807 2,807 V18053 Groupe Bermex inc. 5,000 5,000 V12828 Groupe Giroux Maçonnex inc. 2,000 2,000 V02222 Groupe Laces inc. 2,500 2,500 V18199 Groupe V Média inc. 7,500 7,500 V16356 Héroux-Devtek inc. 18,537 18,537 V14766 Leprohon inc V18174 Lumenpulse inc. 3,3 3,3 V264 Machines Roger International inc. 1,000 1,000 V02679 Maison des Futailles, s.e.c. 2,000 2,000 V17474 Mason Graphite inc V179 Métal 7 inc. 4,750 4,750 V177 Mines Agnico Eagle Limitée 3,990 3,990 V18101 Mines Coulon inc. 1,800 1,800 V17399 Novacap Industries IV, s.e.c. 4,536 4,536 V17668 Orckestra inc. 2,800 2,800 V18164 PRCL Research inc V17211 Redevances Aurifères Osisko ltée 14,281 14,281 V18105 Ricardo Média inc V17379 Rudsak inc. 4,950 4,950 V14788 Sterinova inc. 35 4,500 4,500 V16093 Super Aqua Club inc. 3,000 3,000 V17395 Technologies Tremcar inc. 5,000 5,000 V13729 Tuango inc. 5,000 2,500 7,500 V17516 Versant Venture Capital V, L.P. 35 1,128 1,128 V165 Xenon Pharmaceuticals inc V183 Yamana Gold inc. 3,5 3,5 V general partners of limited partnerships V ,127 2,638,191 1,528,313 18,095 4,900,726 8,638 The list of investments made by these specialized funds is shown in the unaudited Index of the share of the Fonds in investments made by the specialized funds, at cost. This statement of development capital investments at a total cost of $4,900,726,000 itemizes by company the amounts invested by the Fonds de solidarité des travailleurs du Québec (F.T.Q.). This amount appears in Note 5 to the financial statements as at November, 14. In addition, this statement presents a list of the guarantees suretyships granted by the Fonds. 9

11 Units segment legend Energy Materials Industrials Consumer discretionary Consumer staples Health care Financials Information technology Telecommunication services Utilities 10

12 Entreprises québécoises publiques, at cost APPENDIX A Description 5N Plus inc. Abitibi Royalties inc. Adventure Gold inc. 12, V12431 V313 R14323 Aimia inc., Alimentation Couche-Tard inc. Amex Exploration inc. Bombardier inc. 3,280 36, P 214Q V13647 Bowmore Exploration Ltd Cogeco Câble inc. Cogitore Resources inc. Corporation Fiera Capital Corporation Groupe Mercator Transport Corporation Océanique Iron Ore Ergorecherche ltée Exploration Azimut inc. Exploration Dios inc. Exploration Midl inc. Forage Orbit Garant inc. GLV inc. Groupe Canam inc. Groupe CGI inc. Groupe d'alimentation MTY inc. Groupe DMD Connexions santé numériques inc ,4 93 4, ,410 3, ,856 5,1 3,371 21,360 9,298 2,538 V12924 R A GMT 67524Q 29482C V04288 V11976 V N V C 399C 55378N APTILON Hecla Mining Company Héroux-Devtek inc. 12, L Industries Lassonde inc. 2, Innergex Énergie renouvelable inc. Junex inc ,369 1, B V05601 Lamêlée minerais de fer ltée Le Groupe Jean Coutu (PJC) inc. Lumenpulse inc. Manac inc. Metro inc. Mines Agnico Eagle Limitée Mines de la Vallée de l'or ltée Mines Richmont inc. Mines Virginia inc. Nunavik Nickel Mines Ltd 8 4,332 7,468 6, , Q V264 V06118 V117 V18101 V06004 V088 V12100 V314 Opsens inc. 1,

13 Entreprises québécoises publiques, at cost APPENDIX A Description Quincaillerie Richelieu ltée Redevances Aurifères Osisko ltée Ressources Cartier inc. Rogers Sugars inc. Royal Nickel Corp. 7, , W V18105 V R V14827 SEMAFO inc Stella-Jones inc. Technologies D-Box inc. Technologies Interactives Mediagrif inc. Technologies Sensio inc. TransForce inc. WSP Global inc. 5,701 5,533 12,3 1,283 12,785 12,761 V02986 DBOX V Y V Q Xebec Adsorption inc. 2, Yamana Gold inc. 287,7 V155 segment legend Energy Materials Industrials Consumer discretionary Consumer staples Health care Financials Information technology Telecommunication services Utilities 2