Quest Critical Metals Closes First Tranche of Non-Brokered Private Placement Offering
FOR IMMEDIATE RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
QUEST CRITICAL METALS CLOSES FIRST TRANCHE OF
NON-BROKERED PRIVATE PLACEMENT OFFERING
Vancouver, BC – June 18, 2024 – Quest Critical Metals Inc. ("Quest Critical Metals" or the
"Company") (CSE: BULL, OTCQB: DCNNF, FSE: DCR0) is pleased to announce that,
further to its press release dated May 22, 2024, it has closed the first tranche of a non-brokered
private placement offering (the "Private Placement"), pursuant to which the Company issued an
aggregate 3,068,163 units (each, a "Unit") at a price of $0.22 per Unit, generating gross proceeds
of $674,996.
Each Unit is comprised of one common share in the authorized share structure of the Company
(each, a "Common Share") and one Common Share purchase warrant (a “Warrant”) of the
Company. Each Warrant entitles the holder to purchase one additional Common Share (a
“Warrant Share”) of the Company at a price of $0.35 per Warrant Share for a period of two (2)
years from the date of closing.
In connection with the first tranche closing of the Private Placement, the Company has paid cash
finders’ fees totaling $17,316 to eligible finders that have introduced subscribers to the Company.
The closing of the Private Placement is subject to certain conditions including, but not limited to,
the receipt of all necessary approvals, including the approval from the CSE.
All securities issued in connection with the first tranche closing of the Private Placement will be
subject to a statutory hold period in accordance with applicable Canadian securities laws, and may
not be traded until October 19, 2024. The Company intends to close the second tranche of the
Private Placement in the near future.
The gross proceeds of the Private Placement will be used for an initial drill program at the
Company’s Tisvoa Klingenthal copper/cobalt property, and for general corporate and working
capital purposes. The Tisvoa property is drill ready, following a geophysical survey that identified
a very large, untested anomaly and confirmed the reinterpretation of the deposit as a Volcanic
Massive Sulphide (VMS) style deposit. The Tisova project covers over 120km2 straddling the
German/Czech border near the Czech town of Kraslice and the German town of Klingenthal in the
Erzgebirge mountain range.
Quest Critical Metals Inc.
James Newall, President and CEO
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T: (604) 639-4472
Forward-Looking Statements
This news release contains certain "forward -looking information" within the meaning of
applicable securities law. Forward-looking information is frequently characterized by words such
as "plan", "expect", "project", "intend", "believe", "anticipate", "esti mate" and other similar
words, or statements that certain events or conditions "may" or "will" occur. In particular,
forward-looking information in this press release includes, but is not limited to, statements with
respect to the Company's ability to complete the Private Placement on the terms and on the
proposed closing timeline announced or at all and the use of proceeds of the Private Placement.
Although we believe that the expectations reflected in the forward -looking information are
reasonable, there can be no assurance that such expectations will prove to be correct. We cannot
guarantee future results, performance or achievements. Consequently, there is no representation
that the actual results achieved will be the same, in whole or in part, as those set out in the forward-
looking information.
Forward-looking information is based on the opinions and estimates of management 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 information. Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but are not limited
to: general economic conditions in Canada and globally; industry conditions, including
governmental regulation and environmental regulation; failure to obtain industry partner and
other third party consents and approvals, if and when required; the availability of capital on
acceptable terms; the need to obtain required approvals from regulatory authorities; stock market
volatility; liabilities inherent in water disposal facility operations; competition for, among other
things, skilled personnel and supplies; incorrect assessments of the value of acquisitions;
geological, technical, processing and transportation problems; changes in tax laws and incentive
programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other
factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this
cautionary statement. We undertake no duty to update any of the forward-looking information to
conform such information to actual results or to changes in our expectations except as otherwise
required by applicable securities legislation. Readers are cautioned not to place undue reliance
on forward-looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.