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Q Precious & Battery Metals Corp Logo

Q PRECIOUS CLOSES $257,649 SECOND TRANCHE OF PLACEMENT

  • Writer: Mr. Richard Penn
    Mr. Richard Penn
  • Mar 18
  • 2 min read

Mr. Richard Penn reports


Q PRECIOUS & BATTERY METALS CORP. CLOSES SECOND TRANCHE OF OFFERING, ISSUES OPTIONS AND ENGAGES MARKETING


Q Precious & Battery Metals Corp. has closed the second tranche of its previously announced private placement offering (see press release dated Feb. 21, 2025) for gross proceeds of $257,649.95 issuing a combination of flow-through shares (the FT shares) at a price of nine cents per FT share and non-flow through units (NFT units) at a price of 7.5 cents per NFT unit subject to Canadian Securities Exchange approval.


Each NFT unit consists of one non-flow-through common share and one warrant. Each warrant will entitle the holder to purchase a common share at a price of 10 cents per share for a two-year term (the warrant term).


The company paid finders' fees of $7,500 and 100,000 finders' warrants to eligible finders. Each finder's 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 offerings will be for mineral and gas exploration activities and general working capital.


The company also announces, subject to approval of the Canadian Securities Exchange, the company has granted 1,448,649 stock options with a two-year term and an exercise price of seven cents per share to consultants of the company and to an officer of the company. Richard Penn, chief executive officer of the company, was granted 500,000 of these options.


The company also announces that it entered into an agreement with 1822053 Alberta Ltd. (doing business as Evolux Capital) to provide marketing services to the company. The services are expected to include the creation and distribution of social media advertising, development and implementation of communications strategies, assisting with brand development, and co-ordinating with social media and advertising partners.


Evolux is an arm's-length marketing firm and has been engaged for an initial six-month term ending Sept. 19, 2025, for total consideration of $55,000 (plus applicable taxes) which is payable upfront. The company has granted Evolux 548,649 of the previously mentioned stock options. The company does not propose to issue any other securities to Evolux. Evolux can be contacted at (evoluxcapital@gmail.com) or 126 Mitchell Crescent, Blackfalds, Alta., T4M 0H6.


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