Download PDF | View documents on Sedar
Montreal, October 22, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Laurentian Bank Securities Inc. pursuant to which the Underwriters have agreed to purchase for resale $6,500,000 of securities of the Company on a bought-deal private placement basis (the “Offering”). The Offering shall consist of a combination of (a) charity flow-through common shares of the Company (the “Charity FT Shares”) at a price of $0.40 per Charity FT Share and (b) common shares of the Company (the “Hard Shares”) at a price of $0.22 per Hard Share.
The Company has also granted the underwriters the option to purchase up to an additional 15% Charity FT Shares and Hard Shares, in such proportion as the underwriters may determine, exercisable at any time until 48 hours prior to Closing, to cover over-allotments, if any.
Pursuant to the transaction with Newmont Goldcorp Corporation (“Newmont Goldcorp”) announced on April 26, 2018, Newmont Goldcorp maintains their right to participate in any future equity financings undertaken by QPM in order to maintain its ownership interest or to acquire additional QPM shares in order to increase their ownership up to 19.9% (on a non-diluted basis).
The net proceeds from the sale of the Hard Shares will be used for general corporate and working capital purposes. The gross proceeds received by the Company from the sale of the FT Shares will be used to incur Canadian Exploration Expenses (“CEE”) that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada) on the Sakami gold project and other James Bay gold projects in the Province of Québec, which will be renounced to the subscribers with an effective date no later than December 31, 2019, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares.
The Offering is scheduled to close on or about November 15, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that 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 Goldcorp 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 this 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.
- November 26, 2024 Quebec Precious Metals Reports Consistent +20m Thick Spodumene-Bearing Pegmatite Up to 150m Deep from its Maiden Drilling Program on its 100%-owned Lithium Ninaaskumuwin Discovery, James Bay, Quebec
- November 07, 2024 Quebec Precious Metals to Issue Shares in Payment of Services and Deferred Share Units
- October 31, 2024 The Cree Hunters Economic Security Board, 16 Mining & Exploration Companies Contribute $750,000 For The Reconstruction Initiative Forest Fires Fund 2023, James Bay, Quebec
- October 30, 2024 Quebec Precious Metals Intersects 22.9 m of Spodumene-Bearing Pegmatite in the First Drillhole of its Maiden Drilling Program on its 100% Owned High-Grade Lithium Ninaaskumuwin Discovery, James Bay, Quebec
- October 21, 2024 Quebec Precious Metals Begins Maiden Drilling Program on its 100% Owned High-Grade Lithium Ninaaskumuwin Discovery, Situated Near the Galaxy Project to be Acquired by Rio Tinto, James Bay, Quebec, Announces Private Placement
- September 19, 2024 Quebec Precious Metals Congratulates Harfang Exploration on its High-Grade Gold Discoveries near the Sakami Project and Provides Update on Gold and Lithium Exploration Initiatives in James Bay
- August 09, 2024 Quebec Precious Metals to Issue Shares in Payment of Services and Deferred Share Units
- July 17, 2024 Quebec Precious Metals Announces Results of Annual Shareholders Meeting, Grants Deferred Share Units and Stock Options
- June 27, 2024 Quebec Precious Metals Congratulates Ophir on its Spodumene Discovery near the Elmer East Project, James Bay, Quebec
- June 26, 2024 Quebec Precious Metals Granted Financial Support from Quebec Government for Lithium
- June 21, 2024 Quebec Precious Metals Announces Closing of Non-Brokered Private Placement
- May 31, 2024 Quebec Precious Metals Announces First Closing of a Private Placement
- May 28, 2024 Quebec Precious Metals to Issue Shares in Payment of Debts and Deferred Share Units
- April 03, 2024 Quebec Precious Metals and Harfang Exploration Jointly Identify High-Priority Gold and Lithium Drill Targets on their Sakami and Serpent-Radisson Projects, James Bay Region, Quebec