Q2 Metals Closes First Tranche of Private Placement
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) has closed the first tranche of its non-brokered private placement, raising $2.53 million. The company issued:
1. 1,142,857 flow-through units at $0.35 per unit, totaling $400,000.
2. 8,519,998 non-flow-through units at $0.25 per unit, totaling $2,130,000.
Proceeds will fund Canadian exploration expenses on Q2's lithium projects in Quebec and general working capital. The securities have a hold period until December 1, 2024. A second tranche of charity flow-through units is expected to close around August 8, 2024. The offering is subject to TSXV acceptance.
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) ha completato la prima tranche del suo collocamento privato non intermediato, raccogliendo 2,53 milioni di dollari. L'azienda ha emesso:
1. 1.142.857 unità di flusso a $0,35 per unità, per un totale di $400.000.
2. 8.519.998 unità non flusso a $0,25 per unità, per un totale di $2.130.000.
I proventi finanzieranno spese di esplorazione canadese per i progetti di litio di Q2 in Quebec e capitale operativo generale. I titoli hanno un periodo di blocco fino al 1° dicembre 2024. Una seconda tranche di unità di beneficenza è prevista per la chiusura intorno al 8 agosto 2024. L'offerta è soggetta all'approvazione di TSXV.
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) ha cerrado la primera tranche de su colocación privada no mediada, recaudando $2,53 millones. La compañía emitió:
1. 1.142.857 unidades de flujo a $0,35 por unidad, para un total de $400.000.
2. 8.519.998 unidades no fluido a $0,25 por unidad, para un total de $2.130.000.
Los ingresos se destinarán a gastos de exploración en Canadá para los proyectos de litio de Q2 en Quebec y capital operativo general. Los valores tendrán un período de bloqueo hasta el 1 de diciembre de 2024. Se espera que una segunda tranche de unidades de caridad cierre alrededor del 8 de agosto de 2024. La oferta está sujeta a la aceptación de TSXV.
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)는 비중개 사모 투자 첫 번째 tranche를 마감했습니다 및 253만 달러를 조달했습니다. 이 회사는 다음과 같은 주식을 발행했습니다:
1. 1,142,857 흐름 단위를 주당 $0.35로 총 $400,000.
2. 8,519,998 비흐름 단위를 주당 $0.25로 총 $2,130,000.
수익금은 Q2의 퀘벡 리튬 프로젝트에 대한 캐나다 탐사 비용 및 일반 운영 자본으로 사용됩니다. 증권은 2024년 12월 1일까지 유예 기간을 가집니다. 두 번째 tranche의 자선 흐름 단위는 2024년 8월 8일 경에 종료될 것으로 예상됩니다. 이 제안은 TSXV 승인을 받습니다.
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) a clôturé la première tranche de son placement privé non intermédiaire, levant 2,53 millions de dollars. La société a émis :
1. 1.142.857 unités de flux au prix de 0,35 $ par unité, pour un total de 400 000 $.
2. 8.519.998 unités non fluide au prix de 0,25 $ par unité, pour un total de 2 130 000 $.
Les produits seront utilisés pour financer les dépenses d'exploration au Canada pour les projets de lithium de Q2 au Québec et pour le fonds de roulement général. Les titres ont une période de blocage jusqu'au 1er décembre 2024. Une deuxième tranche d'unités de charité devrait être clôturée aux alentours du 8 août 2024. L'offre est soumise à l'acceptation de la TSXV.
Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) hat die erste Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und 2,53 Millionen Dollar gesammelt. Das Unternehmen hat folgende Wertpapiere ausgegeben:
1. 1.142.857 Fluss-Einheiten zu je $0,35 pro Einheit, insgesamt $400.000.
2. 8.519.998 Nichtfluss-Einheiten zu je $0,25 pro Einheit, insgesamt $2.130.000.
Die Erlöse werden die kanadischen Explorationsausgaben für die Lithiumprojekte von Q2 in Quebec sowie das allgemeine Betriebskapital finanzieren. Die Wertpapiere haben eine Haltedauer bis zum 1. Dezember 2024. Eine zweite Tranche von Wohltätigkeitseinheiten wird voraussichtlich um den 8. August 2024 geschlossen. Das Angebot steht unter dem Vorbehalt der Genehmigung durch die TSXV.
- Raised $2.53 million through private placement
- Funds to be used for lithium exploration in Quebec
- Oversubscribed flow-through unit offering by 142,857 units
- Potential dilution of existing shareholders due to new share issuance
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / August 2, 2024 / Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) ("Q2" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of the non-brokered private placement of units (the "Offering") of the Company as announced on July 10 and updated July 11, 2024. Under the First Tranche, the Company has issued:
1,142,857 flow-through units at a price of
$0.35 per unit (the "FT Units") for total gross proceeds of$400,000 , representing an upsize of 142,857 FT Units, with each unit consisting of one flow-through common share of Q2 (a "FT Share") and one half of one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional non-flow-through common share of Q2 at a price of$0.50 per share for a period of two years; and8,519,998 non-flow-through units at a price of
$0.25 per unit (the "NFT Units") with each NFT Unit consisting of one non-flow-through common share of Q2 and one half of one Warrant, for total gross proceeds of$2,130,000.
Gross proceeds from the issuance of the FT Units will be used to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures," as such terms are defined in the Income Tax Act (Canada) (the "Tax Act"), on Q2's lithium projects in Quebec that the Company will renounce to the subscribers pursuant to the Tax Act with an effective date not later than December 31, 2024. Where applicable, gross proceeds from the sale of the FT Units from purchasers in Québec will also qualify as "Canadian exploration expense" under the Taxation Act (Québec) and qualify for inclusion in the "exploration base relating to certain Québec exploration expenses" and the "exploration base relating to certain Québec surface mining exploration expenses," under the Taxation Act (Québec). Proceeds from the sale of the NFT Units will be used for general working capital.
The securities issued pursuant to this First Tranche are subject to a hold period expiring on December 1, 2024 in accordance with applicable securities laws or the Exchange Hold Period under the policies of the TSXV. Aggregate finders' fees of
Closing of the charity flow-through unit ("CFT Unit") portion of the Offering is subject to certain customary conditions and is now expected to occur on or about August 8, 2024 (the "Second Tranche").
The Offering remains subject to receipt of acceptance by the TSX Venture Exchange ("TSXV"). The Company may pay finders' fees in accordance with the policies of the TSXV. All securities issued with respect to the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws or the Exchange Hold Period under the policies of the TSXV.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America.
The securities issuable pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.
The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of
The Company's exploration advancement at its 8,668-hectare Mia lithium property is focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne | Jason McBride |
President & CEO | Corporate Communications |
Telephone: 1 (800) 482-7560 E-mail: info@Q2metals.com
Follow the Company: Twitter, LinkedIn, Facebook, and Instagram
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward- looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, the Offering, the focus of the Company's current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company's expectations in connection with the projects and exploration programs being met, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the 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: Q2 Metals Corp.
View the original press release on accesswire.com
FAQ
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