VANCOUVER, BC / ACCESSWIRE / July 11, 2024 / Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (" Q2 " or the " Company ") is pleased to announce an update to the terms of the non-brokered private placement of units of the Company as announced on July 10, 2024 (the "Offering").
The charity flow-through unit portion of the Offering has been updated to reflect an increase in the price of the units being offered from $0.4625 to $0.475 per unit. As such, the charity flow-through unit portion is now comprised of up to 10,526,315 units of Q2 at a price of $0.475 per unit (the "Charity Units") for gross proceeds of up to $5,000,000.
All other Offering terms remain the same, with total gross proceeds now being up to $7,505,000.
Closing of the Offering on the terms, as amended, is subject to certain customary conditions, is expected to occur on or about July 31, 2024, and is subject to receipt of acceptance by the TSX Venture Exchange. 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 TSX Venture Exchange.
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 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.
The Company's exploration advancement at its 8,668-hectare flagship 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.
