QMC Quantum Minerals Corp. Closes first Tranche of Private Placement
TSX-V: QMC • OTC PINK: QMCQF • FSE: 3LQ
QMC Quantum Minerals Corp. Closes first Tranche of Private Placement
July 29, 2016 Vancouver, British Columbia: QMC Quantum Minerals Corp., (TSX.v: QMC) (FSE: 3LQ) (OTC PINK: QMCQF) (“QMC” or "the Company"), has closed the first tranche of its previously announced non-brokered private placement and issued 2.15 million units at five cents per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of 10 cents for a period of 12 months from closing of the financing. All securities issued pursuant to this private placement will be subject to a four-month hold period from the issuance date
As per Multilateral Instrument 61-101, two insiders of the Company purchased 250,000 units in the private placement.
The Company intends to use the net proceeds from the private placement for working capital, advancing its projects and general corporate purposes.
The Company expects to close additional tranches in the near future and will provide updates as they become available.
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 economic precious, base metal and resource properties of merit. The Company’s properties include its principal VMS properties the Rocky Lake and Rocky-Namew known as the Namew Lake District project, and the Carrot River gold Property all located in Manitoba.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
“Balraj Mann”
Balraj Mann
President and Chief Executive Officer
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 600 - 666 Burrard Street, Vancouver, British Columbia V6C 2X3
Tel: (604) 601-2018 email: [email protected] web: www.qmcminerals.com July 29, 2016