Q2 Metals Announces Grant of Equity Incentive Awards
Q2 Metals Announces Grant of Equity Incentive Awards
Vancouver, British Columbia, December 20, 2024 – Q2 Metals Corp. (TSX.V: QTWO | OTCQB:
QUEXF | FSE: 458) (“Q2” or the “Company”) announces that pursuant to its equity incentive plan
and subject to the acceptance by the TSX Venture Exchange, the Company has granted 2,500,000
stock options to directors, officers, and consultants of the Company to purchase an aggregate of
2,500,000 common shares in the capital of the Company at an exercise price of $0. 82 per share
until December 20, 2029.
The Company has also granted an aggregate 750,000 deferred share units (each, a “DSU”) and
6,000,000 performance share units (each, a "PSU") to certain directors and executive officers of
the Company. The DSUs will vest one year after their date of grant and do not settle until a
director ceases to serve as a director of the Company. The PSUs will vest on the later of (a) one
year after their date of grant and (b) the successful completion of specific key performance
objectives. Any PSUs that have not vested on or before December 20, 2027 will expire. Once
vested, each PSU and DSU will entitle the holder thereof to receive either one common share of
the Company or the cash equivalent of one common share, as determined by the board of
directors of the Company, net of applicable withholdings.
Q2’s Equity Incentive Plan’s objective is to promote the long-term success of the Company and
the creation of shareholder value by aligning the interests of eligible persons under the plan with
the interests of the Company. The Equity Incentive Plan includes (i) a rolling 10% stock option
plan and (ii) a fixed 10% plan which permits the Company to issue up to 13,041,422 common
shares in respect of aggregate performance-based awards other than stock options.
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 Property is comprised of 767 claims, totaling 39,389 hectares (“ha”). The Cisco Property
transects the Billy Diamond Highway, and the main mineralized zone is located only 6.5
kilometres (“km”) away from the highway. The Cisco Property is approxi mately 150 km north of
Matagami, a small town that contains the closest rail link to much of James Bay; and is within the
greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec.
The Cisco Property is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic
package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium
TSX-V: QTWO
OTCQB: QUEXF
FSE: 458
District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and
180 km away, respectively.
The Cisco Lithium Property has district-scale potential with an already identified mineralized zone
and discovery drill results that include:
• 120.3 metres at 1.72% Li2O (hole CS-24-010);
• 215.6 metres at 1.69% Li2O (hole CS-24-018);
• 347.1 metres at 1.35% Li2O (hole CS-24-021); and
• 188.6 metres at 1.56% Li2O (hole CS-24-023)
Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes
intercepted pegmatite with visual indications of spodumene mineralization identified.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne Jason McBride
President & CEO Corporate Communications
[email protected] [email protected]
Telephone: 1 (800) 482-7560
E-mail: [email protected]
WWW.Q2Metals.com
Follow the Company: Twitter, LinkedIn, Facebook, and Instagram
Qualified Person
Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified
Person as defined by NI 43 -101 (“QP”), has reviewed and approved the technical information in this news release.
Mr. McCallum is a director and VP Exploration for Q2.
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 tha t 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 ing the options, DSUs and PSUs granted under the
Company’s equity incentive plan, 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
statement. Forward looking statements in this news release include, but are not limited to, the prospectivity of the
greenstone rocks in the area, the possibility of future development and mining infrastructure scenarios, the potential
for development, the potential scale of the Cisco Property, the focus of the Company’s current and future exploration
and drill programs, the scale, scope and lo cation 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, est imated 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.