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Quebec Precious Metals to Issue Shares in Payment of Services and Deferred Share Units

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Quebec Precious Metals (QPM) announces the issuance of 221,165 common shares to settle services worth $19,462.52 for three current directors. The shares will be issued at $0.088 per share with a four-month hold period. Additionally, 107,955 deferred stock units (DSUs) will be issued to the CEO as part of their compensation structure, where 20% of salary is paid in DSUs quarterly. The DSUs will vest after one year and are payable in common shares or cash upon employment termination.

Quebec Precious Metals (QPM) annuncia l'emissione di 221.165 azioni ordinarie per compensare servizi del valore di 19.462,52 $ per tre attuali direttori. Le azioni saranno emesse a 0,088 $ per azione con un periodo di blocco di quattro mesi. Inoltre, 107.955 unità di azioni differite (DSU) saranno emesse al CEO come parte della loro struttura retributiva, dove il 20% dello stipendio è pagato in DSU su base trimestrale. Le DSU matureranno dopo un anno e saranno pagabili in azioni ordinarie o in contanti al termine del rapporto di lavoro.

Quebec Precious Metals (QPM) anuncia la emisión de 221,165 acciones ordinarias para saldar servicios por un valor de $19,462.52 para tres directores actuales. Las acciones se emitirán a $0.088 por acción con un período de bloqueo de cuatro meses. Además, se emitirán 107,955 unidades de acciones diferidas (DSUs) al CEO como parte de su estructura de compensación, donde el 20% del salario se paga en DSUs trimestralmente. Las DSUs se consolidarán después de un año y se pagarán en acciones ordinarias o en efectivo al finalizar la relación laboral.

퀘벡 프레셔스 메탈스(QPM)는 세 명의 현직 이사를 위한 221,165 주식을 발행하여 $19,462.52의 서비스 비용을 결제한다고 발표했습니다. 주식은 $0.088의 가격으로 발행되며, 4개월의 보류 기간이 있습니다. 또한 CEO의 보상 구조의 일환으로 107,955 개의 이연 주식 단위(DSUs)가 발행될 예정입니다. 여기서 급여의 20%는 매 분기 DSU로 지급됩니다. DSU는 1년 후에 발생하며, 고용 종료 시 일반 주식 또는 현금으로 지급됩니다.

Quebec Precious Metals (QPM) annonce l'émission de 221.165 actions ordinaires pour régler des services d'une valeur de 19.462,52 $ pour trois administrateurs actuels. Les actions seront émises à 0,088 $ par action avec une période de blocage de quatre mois. De plus, 107.955 unités d'actions différées (DSU) seront attribuées au PDG dans le cadre de leur structure de compensation, où 20 % du salaire est payé en DSU sur une base trimestrielle. Les DSU deviendront acquises après un an et seront payables en actions ordinaires ou en espèces à la cessation de l'emploi.

Quebec Precious Metals (QPM) kündigt die Ausgabe von 221.165 Stammaktien an, um Dienstleistungen im Wert von 19.462,52 $ für drei amtierende Direktoren zu begleichen. Die Aktien werden zu einem Preis von 0,088 $ pro Aktie ausgegeben, mit einer Sperrfrist von vier Monaten. Darüber hinaus werden 107.955 aufgeschobene Aktieneinheiten (DSUs) dem CEO im Rahmen ihrer Vergütungsstruktur angeboten, bei der 20 % des Gehalts vierteljährlich in DSUs gezahlt werden. Die DSUs werden nach einem Jahr fällig und sind bei Beendigung des Arbeitsverhältnisses in Stammaktien oder Bargeld zahlbar.

Positive
  • Preserves cash position by issuing shares instead of cash payments
  • Transaction exempt from formal valuation and minority shareholder approval requirements
Negative
  • Share dilution through issuance of 221,165 new common shares
  • Additional potential dilution from 107,955 DSUs

MONTREAL, QC / ACCESSWIRE / November 7, 2024 / Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) (" QPM " or the " Corporation ") announces that an aggregate of 221,165 common shares will be issued in settlement of services of three current directors of the Corporation in an aggregate amount of $19,462.52, as per the shares for services agreements entered with three current directors (the " Shares for Services Arrangement ") (see press release dated June 21, 2024 ). The services are paid in connection with services rendered by three current directors during the third quarter of the financial year ending January 31, 2025.

The Board of Directors and Management of QPM believes that the Shares for Services Arrangement is in the best interests of QPM as it will help the Corporation preserve its cash position.

The common shares to be issued pursuant to the Shares for Services Arrangement will be issued at a deemed price of $0.088 per share and will be subject to a four-month hold period pursuant to applicable securities regulations and the policies of the TSX Venture Exchange (the " TSXV ").

The Shares for Services Arrangement is considered a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions
(" MI 61-101" ). The Shares for Services Arrangement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as QPM's securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and neither the fair market value of the common shares to be issued in the Shares for Services Arrangement nor of the services provided in connection with the debts which are the subject of the Shares for Services Arrangement shall exceed 25% of QPM's market capitalization.

Deferred shares units

The Company announces the issuance of 107,955 deferred stock units (the " DSUs ") to the Chief Executive Officer pursuant to its Deferred Share Unit Plan (the " DSU Plan "). This follows the decision that from May 1, 2022, the CEO's salary compensation will be paid 80% in cash and the other 20% of compensation will be paid in Differed DSUs quarterly. These DSUs represent the portion for the third quarter of 2025. In accordance with the DSU Plan, the DSUs shall vest in accordance with the terms of agreements granting same and one year from the date of such grant, subject to the provisions of TSXV Policy 4.4 and the Company's security based compensation plan, and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be an employee of the Company.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

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 the original press release on accesswire.com

FAQ

How many common shares will Quebec Precious Metals (CJCFF) issue for director services?

Quebec Precious Metals will issue 221,165 common shares at $0.088 per share to settle services worth $19,462.52 for three directors.

What is the DSU compensation structure for Quebec Precious Metals (CJCFF) CEO?

The CEO receives 80% of salary in cash and 20% in Deferred Stock Units (DSUs) paid quarterly, with 107,955 DSUs issued for Q3 2025.

What is the vesting period for Quebec Precious Metals (CJCFF) DSUs?

The DSUs vest one year from the grant date, subject to TSXV Policy 4.4 and the company's security based compensation plan.

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