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Montreal, December 12, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce that it has completed a private placement (the “Offering”) by issuing to CDPQ Sodémex Inc. (“CDPQ Sodémex”) a total of 2,272,728 common shares of the company at a price of $0.22 per common share for gross proceeds of $500,000.
The net proceeds from the Offering will be used for general corporate and working capital purposes. The private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. The securities issued pursuant to this Offering will be subject to a restricted period under applicable Canadian securities legislation expiring March 10, 2020.
The gross proceeds of the Offering, in combination with the proceeds of the Company’s previously announced bought deal private placement lead by Laurentian Bank Securities Inc. (together with the Offering, the “Financings”), brings the total aggregate gross proceeds raised by the Company to approximately $7,040,703.
The Company is pleased to have received significant support from strategic and institutional shareholders who participated in the Financings, including from Quebec-based institutional funds CDPQ Sodémex and SIDEX L.L.P. (“SIDEX”), as well as strategic shareholder Newmont Goldcorp Corporation.
About CDPQ Sodémex
Through its CDPQ Sodémex mining portfolio, la Caisse de dépôt et placement du Québec acquires interests in junior exploration companies and active mining producers in Quebec in order to contribute to the development of Québec’s mining industry.
About SIDEX
SIDEX is an initiative of the Québec government and the Fonds de solidarité des travailleurs du Québec (F.T.Q.) whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.
About Quebec Precious Metals Corporation
QPM is a gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Québec, 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.
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- March 13, 2020 Quebec Precious Metals appoints Tony Brisson as senior exploration manager
- March 12, 2020 Quebec Precious Metals Announces U.S. Trading on OTCQB Venture Market Under Symbol CJCFF
- February 27, 2020 Quebec Precious Metals Starts Second Drill at Sakami
- February 18, 2020 Quebec Precious Metals Grants Stock Options
- January 30, 2020 Quebec Precious Metals covers the Elmer East project with a heliborne geophysical survey along trend with Azimut’s gold discovery, James Bay, Quebec
- January 28, 2020 Quebec Precious Metals generates the Elmer East project along trend with Azimut’s gold discovery, James Bay, Quebec
- January 14, 2020 Quebec Precious Metals to Drill 25,000 m at Sakami
- December 12, 2019 Quebec Precious Metals Announces Closing of a $500,000 Private Placement
- December 03, 2019 Quebec Precious Metals Hires Red Cloud
- November 29, 2019 Quebec Precious Metals Announces Closing of $6.5 Million Bought Deal Private Placement; Newmont Goldcorp Increases Ownership to 19.9%
- November 17, 2019 Quebec Precious Metals Provides Update on $6.5 Million Bought Deal Private Placement
- October 29, 2019 Quebec Precious Metals: Message from the CEO
- October 22, 2019 Quebec Precious Metals Announces $6.5 Million Bought Deal Private Placement