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QMC QUANTUM MINERALS CORP. — Capital/Financing Update 2020
Sep 8, 2020
46646_rns_2020-09-08_da4b247a-61c1-4d27-91d6-ddaa0560b7d7.pdf
Capital/Financing Update
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QMC ARRANGES $750,000 FINANCING
September 4, 2020 Vancouver, British Columbia: QMC Quantum Minerals Corp., (TSX.V: QMC) (FSE: 3LQ) (OTC PINK: QMCQF) (“ QMC ” or "the Company") has arranged a private placement for $750,000. The financing will consist of issuing 7.5-million units at $0.10 per unit, where each unit will consist of one common share and one common share purchase warrant exercisable at $0.16 per warrant for a period of 24 months, in the event that the closing price of the Company’s shares as quoted on the TSXV exceeds $0.25 per share for ten consecutive trading days, the Company may accelerate the expiry date of the warrants by giving notice to the holders, within five days of such event, thereof, and in such case, the warrants will expire on the 30[th] day after the date on which such notice is given by the Company.
All securities issued pursuant to this private placement will be subject to a four-month hold. The private placement is subject to acceptance by the TSX Venture Exchange.
Finders' fees may be paid by the company in conjunction with the completion of the private placement in accordance with TSX Venture Exchange policies.
The Company intends to use the net proceeds from the private placement for working capital, advancing its mineral properties, and general corporate purposes.
About the Company
QMC is a British Columbia-based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop precious, base and rare metal resource properties of merit. The Company’s properties include the Irgon Lithium Mine Project and two VMS properties, the Rocky Lake and Rocky-Namew, known collectively as the Namew Lake District Project. Currently, all of the company’s properties are located in Manitoba.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
“Balraj Mann” Balraj Mann President and Chief Executive Officer 604-601-2018
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Suite 440 - 755 Burrard Street, Vancouver, British Columbia V6Z 1X6 Tel: (604) 601-2018 I email: [email protected] I web: www.qmcminerals.com