Le Diamant

Le Diamant

September 28, 2015 11:39 ET

BMO Financial Group, Desjardins Group and Bell Contribute to the Le Diamant Fundraising Campaign

QUEBEC CITY, QUEBEC--(Marketwired - Sept. 28, 2015) - In the presence of Hélène David, the Quebec Minister of Culture and Communications and Minister responsible for the protection and promotion of the French language, Régis Labeaume, the Mayor of Quebec City, and its campaign chairs L. Jacques Ménard, President of BMO Financial Group, Quebec and Chairman of BMO Nesbitt Burns, and Monique F. Leroux, Chair of the Board, President and Chief Executive Officer of Desjardins Group, Le Diamant today announced the first contributions to its fundraising campaign. Totalling $3.5 million, the donations put the project one-third of the way toward reaching its $10 million campaign goal.

More specifically, BMO Financial Group is donating $1 million, Desjardins Group $500,000 along with made-to-measure financing, and Bell another $2 million.

Solid foundation

"From the start, our main concern has been to provide a solid foundation for our project and to find major partners that would stay with us until it became a reality," said director Robert Lepage, speaking on behalf of Le Diamant. "We are extremely grateful to our campaign chairs, Mr. Ménard and Ms. Leroux, for all the work they have done and we are confident that, with the support of Bell in addition to BMO and Desjardins, we will reach our objective."

"With its exemplary commitment of $1 million or 10% of the campaign's goal, BMO is proud to be associated with this inspiring and structuring project that will contribute so much to Quebec City's cultural and economic vibrancy," said L. Jacques Ménard, President of BMO Financial Group, Quebec and co-chair of the Le Diamant fundraising campaign.

"As a partner in the success of Ex Machina since its creation in 1995, it went without saying that Desjardins Group would be there for Le Diamant with a $500,000 donation," said Monique F. Leroux, Chair of the Board, President and Chief Executive Officer of Desjardins Group and co-chair of the Le Diamant fundraising campaign. "I have no doubt that Le Diamant will quickly become an incubator for future generations and an exceptional locus of innovation and cultural creation."

'"Bell is very pleased to announce a contribution of $2 million toward making Le Diamant a reality," added Martine Turcotte, Vice Chair, Quebec, Bell. "Choosing Le Diamant is, for us, an extraordinary way to promote Quebec's cultural creativity and disseminate it to a larger audience as well as to reiterate our commitment to supporting local artists and designers. This contribution to Le Diamant is part of the program of tangible benefits flowing from the transaction with Astral.

"The involvement by well-known companies is admirable and stands as a model for cultural philanthropy," said Hélène David, Quebec Minister of Culture and Communications and Minister responsible for the protection and promotion of the French language. "I hope this type of patronage will become a natural reflex in Quebec and achieve its full potential. It is clear that the combined efforts of the public and private sectors can act as a lever to drive arts and culture."

"This fundraising campaign is excellent news for Quebec City," said Mayor Régis Labeaume. "The Diamant buildings are among the oldest on Place D'Youville. The prestige and monumentality of their architecture make them a key and unique part of our heritage. In addition to its historic interest, authentic condition and potential uses, the site has an enviable position within the city. Le Diamant will make it possible to present the world's best productions and will help make Quebec City a world-class cultural destination."

Funding

In addition to the $10 million to come from the fundraising campaign, the Quebec government confirmed in April its investment of $30 million in the project, as did Quebec City with a $7 million investment. As the overall project is budgeted at $54 million, the remaining $7 million will be covered by an investment by the Canadian government (amount to be confirmed) and the sale of commercial spaces.

Impending conclusion of the architecture competition

In June, Le Diamant announced the composition of the four teams that advanced to the second stage of the architecture competition. That stage will end in the coming days and the winner will be announced in October.

Acknowledgements

Le Diamant extends its thanks to the Quebec government and the Ville de Québec for their crucial contribution to the success of the initiative and their willingness to make it a major project.

Le Diamant also wants to take advantage of this opportunity to express its deep gratitude to its early partners, with which it continues to work actively on moving the project forward: Fondaction, the Fonds de développement de la CSN pour la coopération et l'emploi, the Société de développement Angus and the Caisse d'économie solidaire Desjardins.

Le Diamant in brief

A venue for cultural dissemination with more than 600 seats and equipped with the state-of-the-art equipment that contemporary productions require, Le Diamant will allow the best national and international productions to be presented to audiences in Quebec City and elsewhere. A veritable incubator for up-and-coming artists and a window on its community, Le Diamant will host Ex Machina productions, circus shows and operas as well as innovative artistic performances by several partners.

Contact Information