Quebec Precious Metals Corporation closes additional tranche of oversubscribed $3,250,000 private placement
Quebec Precious Metals Corporation (OTCQB: CJCFF) announced the closing of an additional tranche in its oversubscribed private placement, raising $22,000 through the issuance of 100,000 common shares at a price of $0.22 each. The total gross proceeds from the financing amount to $3,250,399 from 14,774,543 common shares. The company paid $1,760 in finders' fees and granted 8,000 non-transferable warrants. Proceeds will be allocated for exploration and general corporate purposes. The financing is subject to TSX Venture Exchange approval.
- Successfully closed an additional tranche of private placement, raising $22,000.
- Total gross proceeds from the placement reached $3,250,399, indicating strong investor interest.
- Funds will support exploration and corporate growth efforts.
- None.
MONTREAL, QC / ACCESSWIRE / May 18, 2021 / Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM" or the "Company") is pleased to announce that, in connection with its previously announced "best efforts" private placement financing (the "Placement"), the Company closed an additional and final tranche of the oversubscribed Placement for an amount of
In total, including the first tranche which closed on May 3, 2021 and the second tranche of the Placement, the Company has issued 14,774,543 Common Shares for gross proceeds of
Finders fees totalling
In addition, the finders received 8,000 non-transferable compensation warrants, with each such warrant being exercisable at a price of
The Common Shares are subject to a four-month "hold period" commencing on the closing date pursuant to National Instrument 45-102 - Resale of Securities and Regulation 45-102 respecting Resale of Securities (Québec) and the certificates or DRS advices representing such securities will bear a legend to that effect.
The net proceeds from the sale of the Common Shares will be used for exploration expenditures as well as for general corporate and working capital purposes.
The Placement is subject to the acceptance of the TSX Venture Exchange.
About Quebec Precious Metals Corporation
QPM is a gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to rapidly explore the project to advance it to the mineral resource estimate stage.
For more information please contact:
Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca
Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Quebec Precious Metals Corporation
View source version on accesswire.com:
https://www.accesswire.com/648091/Quebec-Precious-Metals-Corporation-closes-additional-tranche-of-oversubscribed-3250000-private-placement
FAQ
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