Q Precious & Battery Metals Corp. to Settle Outstanding Debt
Q PRECIOUS & BATTERY METALS CORP.
500- 666 Burrard Street
Vancouver, BC, V6C 3P6
Q PRECIOUS & BATTERY METALS CORP. TO SETTLE OUTSTAN DING DEBT
October 10, 2024 – Vancouver, British Columbia. Q Precious & Battery Metals Corp. (the “Company ”)
(CSE: QMET) (Frankfurt: 0NB) (OTCPK: BTKRF) is plea sed to announce that it has settled outstanding
indebtedness of up to $474,350 in exchange for an aggregate of 9,487,000 common shares of the Company
at a price of $0.05 per common share (the “Debt Set tlement”). This debt settlement included outstandin g
indebtedness of $100,000 owing to the Company’s CEO, Richard Penn.
Richard Penn (“Penn”), the Chief Executive Officer and a director of the Company, purchased 2,000,000
common shares for consideration of $100,000 pursuan t to the Offering. Participation by Penn in the Deb t
Settlement is considered a “related party transacti on” pursuant to Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from
the requirements to obtain a formal valuation and m inority shareholder approval in connection with Pen n’s
participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis
that participation in the Offering by Penn did not exceed 25% of the fair market value of the Company’ s
market capitalization.
The securities, when issued will be subject to a fo ur month and one day hold from the date of issuance . In
addition, the debt settlement is subject to the approval of the CSE.
Investment by Richard Penn
As described above, Penn, of 500- 666 Burrard Stree t, Vancouver, BC, V6C 3P6, acquired 2,000,000
common shares, for consideration of $100,00 pursuant to the Offering.
Immediately prior to the closing of the Offering, P enn beneficially owned or controlled 106,965 Shares
12,750 Share purchase warrants (“Warrants”) and 180,000 stock options (“Options”) of the Company, which
represented approximately 0.95% of the issued and o utstanding Shares on a non-diluted basis and,
assuming the exercise of the 12,750 Warrants and 18 0,000 Options, approximately 2.67% of the issued
and outstanding Shares on a partially diluted basis.
Immediately following the closing of the Offering, Penn beneficially owns or controls 2,106,965 Shares ,
12,750 Warrants and 180,000 Options, representing a pproximately 10.18% of the issued and outstanding
Shares on a non-diluted basis and, assuming the exe rcise of the 12,750 Warrants and 180,000 Options,
approximately 10.97% of the issued and outstanding Shares on a partially diluted basis.
The securities of the Company held by Penn are held for investment purposes. Penn 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 cond itions, general economic and industry conditions, t he
Company’s business and financial condition, reformulation of plans and/or other relevant factors.
A copy of Penn’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 expenditure s.
Forward-looking information is frequently character ized by words such as “plan”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and o ther similar words, or statements that certain even ts or
conditions “may” or “will” occur. Forward-looking s tatements are based on the opinions and estimates a t
the date the statements are made, and are subject t o a variety of risks and uncertainties and other fa ctors
that could cause actual events or results to differ materially from those anticipated in the forward-l ooking
statements including, but not limited to delays or uncertainties with regulatory approvals, including that of
the CSE, inability to effectively plan a program, t hird party land claims or failure to obtain permits . There
are uncertainties inherent in forward-looking infor mation, including factors beyond the Company’s cont rol.
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 describ ed 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 risk s and uncertainties that could affect financial res ults is
contained in the Company’s filings with Canadian se curities regulators, which are available at
www.sedar.com.