Q2 Metals Announces $7.5 Million Private Placement
Q2 METALS ANNOUNCES $7.5 MILLION PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
VANCOUVER, BRITISH COLUMBIA, July 10, 2024 – Q2 Metals Corp. (TSX.V: QTWO | OTCQB:
QUEXF | FSE: 458) (“Q2” or the “Company”) is pleased to announce that it has arranged a non-
brokered private placement of units of the Company to raise gross proceeds of up to $7,500,000
(the “Offering”) as follows:
• Up to 10,800,000 units of Q2 at a price of $0.4625 per unit (the “Charity Units”) for gross
proceeds of up to $4,995,000. Each Charity Unit will consist of one flow-through common
share of Q2 (a “FT Share”) and one half of one share purchase warrant (each whole
warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one additional non-
flow-through common share of Q2 at a price of $0.50 per share for a period of two years;
• Up to 1,000,000 units of Q2 at a price of $0.35 per unit (the “FT Units”) for gross proceeds
of up to $350,000. Each FT Unit will consist of one FT Share and one half of one Warrant;
and
• Up to 8,620,000 units of Q2 at a price of $0.25 per unit (the “NFT Units”) for gross
proceeds of up to $2,155,000. Each NFT Unit will consist of one non-flow-through
common share of Q2 and one half of one Warrant.
Gross proceeds from the issuance of the Charity Units and FT Units will be used to incur
“Canadian exploration expenses” that qualify as “flow-through critical mineral mining
expenditures”, as such terms are defined in the Income Tax Act (Canada) (the “Tax Act”), on Q2’s
lithium projects in Quebec that the Company will renounce to the subscribers pursuant to the
Tax Act with an effective date not later than December 31, 2024. Where applicable, gross
proceeds from the sale of the FT Shares from purchasers in Québec will also qualify as “Canadian
exploration expense” under the Taxation Act (Québec) and qualify for inclusion in the
“exploration base relating to certain Québec exploration expenses” and the “exploration base
relating to certain Québec surface mining exploration expenses”, under the Taxation Act
(Québec). Proceeds from the sale of the NFT Units will be used for general working capital.
The Company may pay finders’ fees in accordance with the policies of the TSX Venture Exchange.
Closing of the Offering is subject to certain customary conditions, is expected to occur on or about
July 31, 2024, and is subject to receipt of acceptance by the TSX Venture Exchange. All securities
issued with respect to the Offering will be subject to a hold period of four months and one day
in accordance with applicable securities laws or the Exchange Hold Period under the policies of
the TSX Venture Exchange.
TSX-V: QTWO
OTCQB: QUEXF
FSE: 458
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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful, including any of the securitie s in the United States of America .
The securities issuable pursuant to the Offering have not been, and will not be, registered under
the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the
United States or to, or for the account or benefit of, U.S. persons, absent registration or any
applicable exemption from the registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws
About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of
lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its
100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.
The Cisco lithium property is located approximately 150 km north of Matagami, Que., and
comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential
with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40
percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.
The Company’s exploration advancement at its 8,668-hectare flagship Mia lithium property is
focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia
2 lithium occurrences and 11 other mineralized zones along trend.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne Kevin Bottomley Jason McBride
President & CEO Director Corporate Communications
[email protected] [email protected] [email protected]
Telephone: 1 (800) 482-7560
E-mail: [email protected]
Follow the Company: Twitter, LinkedIn, Facebook, and Instagram
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-
looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are
typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”,
“should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions,
which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or
achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking
statements and include statements regarding beliefs, plans, expectations and orientations regarding the future
including, without limitation, any statements or plans regard the geological prospects of the Company’s properties
and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in the forward-looking
statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from those anticipated in such forward-looking statements. The forward-looking
statements in this news release speak only as of the date of this news release or as of the date specified in such
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statement. Forward looking statements in this news release include, but are not limited to, the Offering, the focus of
the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration
and drilling activities, the Company's expectations in connection with the projects and exploration programs being
met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the
estimation of mineral resources, exploration and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could cause actual results to differ materially from those
in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates,
changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project
parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of
capital and financing on acceptable terms, general economic, market or business conditions, risks associated with
regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or
equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental
impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development
of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected
in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the
Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under
Company’s SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks,
uncertainties and factors which could cause actual results to differ materially, there may be others that cause results
not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation,
to update this forward-looking information except as otherwise required by applicable law.
Neither the 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.