Mr. Richard Penn reports
Q PRECIOUS & BATTERY METALS CORP. ANNOUNCES PRIVATE PLACEMENT
Q Precious & Battery Metals Corp. has arranged a private placement for gross proceeds of up to $750,000 issuing a combination of flow-through units at a price of 10 cents per flow-through unit and non-flow-through units at a price of 7.5 cents per non-flow-through unit, subject to Canadian Securities Exchange approval.
Each flow-through unit consists of one flow-through common share and one-half of one whole share purchase warrant. Each non-flow-through unit consists of one non-flow-through common share and one-half of one whole warrant. Each warrant will entitle the holder to purchase a common share at a price of 12 cents per share for a two-year term.
The company will pay finders' fees of up to 10 per cent cash and 10 per cent finder warrants to eligible finders. Each finder warrant shall be exercisable at a price of 10 cents per share for a two-year term.
The securities issued will be subject to a four-month-and-one-day hold from the date of issuance.
The proceeds from the offering will be for mineral exploration activities and general working capital.
We seek Safe Harbor.
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