Q Precious & Battery Metals Corp. to Settle Outstanding Debt and Grant Options
Q PRECIOUS & BATTERY METALS CORP.
500- 666 Burrard Street Vancouver, BC, V6C 3P6
Q PRECIOUS & BATTERY METALS CORP. TO SETTLE OUTSTANDING DEBT AND GRANT OPTIONS
November 20, 2024 – Vancouver, British Columbia. Q Precious & Battery Metals Corp. (the “Company”) (CSE: QMET) (Frankfurt: 0NB) (OTCPK: BTKRF) is pleased to announce that proposes to settle outstanding indebtedness of up to $250,944 in exchange for an aggregate of up to 3,345,916 common shares of the Company at a price of $0.075 per common share.
The securities, when issued will be subject to a four month and one day hold from the date of issuance. In addition, the debt settlement is subject to the approval of the CSE.
The Company also announces that it has granted 2,200,000 stock options with a two year term and an exercise price of $0.09 per share (the “Option Grant”), of which all of the issued options were issued to directors and officers of the Company.
Option Grant to Richard Penn
Richard Penn, an officer and director of Company (the “Acquiror), was granted 1,000,000 options to purchase common shares (the “Shares”) of Q Precious & Battery Metals Corp. (the “Reporting Issuer”). Immediately prior to the closing of the Option Grant, the Acquiror beneficially owned or controlled 2,516,965 Shares, 212,750 Warrants and 180,000 Options, representing approximately 9.3% of the issued and outstanding Shares on a non-diluted basis and, assuming the exercise of the 212,750 Warrants and 180,000 Options, approximately 10.6% of the issued and outstanding Shares on a partially diluted basis.
Immediately following the closing of the Option Grant, the Acquiror beneficially owns or controls 2,516,965 Shares, 212,750 Warrants and 1,180,000 Options, representing approximately 9.3% of the issued and outstanding Shares on a non-diluted basis and, assuming the exercise of the 212,750 Warrants and 1,180,000 Options, approximately 13.7% of the issued and outstanding Shares on a partially diluted basis.
The securities of the Company held by the Acquiror are held for investment purposes. The Acquiror has a long-term view of the investment and may acquire additional securities of the Company either on the open market, through private acquisitions or as compensation or sell the securities on the open market or through private dispositions in the future depending on market conditions, general economic and industry conditions, the Company’s business and financial condition, reformulation of plans and/or other relevant factors.
A copy of the Acquiror’s early warning report will appear on the Company’s profile on SEDAR+ and may also be requested by mail at Q Precious & Battery Metals Corp., 500- 666 Burrard Street, Vancouver, BC, V6C 3P6, Attention: Richard Penn or phone at (778) 384-8923.
On behalf of the Board of Directors Richard Penn CEO (778) 384-8923
Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law including statements relating exploration program expenditures. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, inability to effectively plan a program, third party land claims or failure to obtain permits. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.