Montreal, July 12, 2018 – Quebec Precious Metals Corporation (the “Company”) (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) confirms that its number of issued and outstanding common shares following the arrangement that was completed on June 27, 2018 (see press release dated June 28, 2018) (the “Arrangement”) is 44,835,558 common shares rather than 72,687,333 common shares. The latter number is incorrect, in that it did not take into account the prior consolidation of the share capital of Matamec Explorations Inc. (“Matamec”), one of the parties to the Arrangement.
As a consequence, an incorrect number of common shares of the Company was deposited in the brokerage accounts of former beneficial shareholders of Matamec, with the result that such former beneficial shareholders received a greater number of common shares of the Company than they were entitled to in accordance with the Arrangement. The number of common shares has now been adjusted to reflect the prior consolidation of the share capital of Matamec. The Company has been informed that trades in the Company’s common shares by former beneficial shareholders of Matamec, completed on the secondary market between July 5 and July 9, 2018, will stand, following a review of the matter by the Investment Industry Regulatory Organization of Canada (IIROC).
The Company invites former beneficial shareholders of Matamec to consult their registered securities dealers in order to confirm their respective positions in shares of the Company before engaging in further trades.
Filing of Early Warning Report by the Company
The Company also announces that on June 27, 2018, the Company acquired all of the issued and outstanding common shares of Matamec (the “Acquired Shares“). In connection with the Arrangement, Matamec shareholders received 0.267697315 of a common share of the Company (on a post-consolidation basis) in exchange for each common share of Matamec (on a post-consolidated basis as per the terms of the Arrangement). As part the Arrangement, the common shares of Canada Strategic Metals Inc. (now, the Company) and the common shares of Matamec were each consolidated on the basis of one post-consolidation share for every 4.16 pre-consolidation shares then issued and outstanding.
Shareholders of Matamec approved the Arrangement at an annual and special meeting of shareholders held on June 14, 2018. The Superior Court of Québec approved the Plan of Arrangement on June 18, 2018. The Arrangement was effective as of June 27, 2018, following the filing of Articles of Arrangement and the receipt from the Registraire des entreprises du Québec of a Certificate of Arrangement.
Prior to the acquisition of the Acquired Shares, the Company did not own any common shares of Matamec. As a result of the acquisition of the Acquired Shares, the Company owns 10,847,805 common shares of Matamec, representing 100% of the outstanding common shares of Matamec.
A copy of the early warning report filed by the Company in connection with a business combination by way of Plan of Arrangement is available on Matamec’s SEDAR profile at www.sedar.com. This announcement is made under the early warning provisions of Canadian securities legislation.
About Quebec Precious Metals Corporation
Quebec Precious Metals is a well-capitalized company with a large land position and significant holdings in the highly-prospective Eeyou Istchee James Bay region, Québec, near Goldcorp’s Éléonore gold mine. The land package contains high-quality early stage exploration gold targets.
For more information on Quebec Precious Metals Corporation, contact:
Tel.: 514 951-2730
Chief Executive Officer
Tel.: 514 979-4746
Paradox Public Relations
Tel: 514 341-0408
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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- July 30, 2019 Quebec Precious Metals announces first phase of 2019 Exploration Program
- July 12, 2019 Quebec Precious Metals hires SGS Canada for resource model
- July 09, 2019 Quebec Precious Metals and its partner Lomiko report multiple 100 m+ intercepts and multiple 10%+ Cg zones at its non-core high grade La Loutre Flake Graphite Project
- June 21, 2019 Quebec Precious Metals grants stock options
- June 18, 2019 Quebec Precious Metals: Message from the CEO
- June 05, 2019 Quebec Precious Metals Corporation extends La Pointe deposit at depth to 600 m and on strike to 900 m
- May 31, 2019 Quebec Precious Metals appoints Mario Caron, Dominique Dionne and Charles Main to its Board of Directors
- May 23, 2019 Quebec Precious Metals provides update on monetizing non-core assets
- May 06, 2019 Quebec Precious Metals and its partner Lomiko report intercept of 116.9 m of 4.80% including 15.2 m of 18.04% and 47.3 m of 7.56% including 11.3 m of 17.45% flake graphite on its non-core high grade La Loutre asset
- April 30, 2019 Quebec Precious Metals Corporation: strong copper-gold potential of the Blanche and Charles projects near the recent Mythril copper-gold discovery, James Bay region, Quebec
- April 24, 2019 Quebec Precious Metals and its partner Lomiko report intercept of 87.9 m of 7.14% including 21.0 m of 15.48% flake graphite on its non-core high grade La Loutre project
- April 23, 2019 Quebec Precious Metals extends previously announced new near-surface drill discoveries at Sakami including 1.27 g/t Au over 15 m and 4.66 g/t Au over 3.5 m
- March 26, 2019 Quebec Precious Metals drills new near-surface gold discoveries at Sakami including 14.20 g/t Au over 2.0 m and 5.05 g/t Au over 5.06 m