QCMBTF Extend Long Stop Date of Subscription Agreement
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TSX-V Announcement
12 December 2024
QCMBTF Extend Long Stop Date of Subscription
Agreement
Vancouver, British Columbia, December 12, 2024 – Velox Energy Materials Inc. (TSXV: VLX) ("Velox" or the
"Company") is pleased to announce, the QIC Critical Minerals and Battery Technology Fund (QCMBTF), a fund
managed and administered by QIC Limited (“QIC”) , has agreed to extend the long stop date of the
subscription agreement until 31 March 2025.
To support Velox’s dual listing on the Australian Securities Exchange ( ASX), QCMBTF has agreed to extend
the long stop date of the executed subscription agreement with Velox to the end of the first quarter in 2025.
The previous date for satisfaction of conditions precedent was 31 December 2024.
This extension is to enable Velox time to comply with all ASX requirements for a dual listing , as well as
continuing to build the Company for a successful initial listing and longevity on the ASX.
No other terms of the agreements previously announced in relation to QCMBTF’s investment have changed.
In particular, the fund has maintained its conditional commitment to a cornerstone investment of between
AUD$4m and AUD$5m subject to the terms previously announced on 2 August 2024 , which would position
QCMBTF as a significant shareholder with an anticipated undiluted holding between 15-19% in the Company.
Please refer to the TSX-V announcement dated 2 August 2024 for further details.
Velox’s President and CEO, Simon Coyle, commented:
“QIC’s commitment to extend the long stop date of the subscription agreement reflects QCMBTF’s support.
With critical minerals crucial to Queensland’s future, this support highlights Velox’s assets and the promising
position of vanadium and other critical minerals in Queensland.
“Velox continues to pursue a dual listing on the ASX, as we ensure the company is complying with all
requirements of the exchange and building the Company for long term success.”
Approved by the Board of Velox Energy Materials Inc.
Simon Coyle
President & CEO
+1 416-214-7577
Investor Relations Contact
Amalie Schreurs
Investor Relations – Australia
M: +61 431 636 033
Email: [email protected]
About Velox Energy Materials
Velox Energy Materials is a publicly traded energy materials company developing and progressing high-value
assets in resource and research -friendly jurisdictions. The Company’s priority focus is the advanced NQV
Project in Queensland, Australia. The NQV Pr oject hosts the Cambridge Deposit with a CIM compliant
Indicated Mineral Resource of 61.33 Mt @ 0.34% V2O5 and 234.6 ppm MoO3 along with an Inferred Mineral
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TSX-V Announcement
12 December 2024
Resource of 144.87 Mt @ 0.33% V 2O5 (cut-off grade of 0.25% V2O5) and 241.9 ppm MoO 3 (Dufresne et al.,
2022). The Company is targeting shallow, high -grade mineralization that can be developed using low -cost
mining and processing options.
Forward Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward‐looking statements and forward‐looking information within the meaning
of applicable securities laws. These statements relate to future events or future performance. All statements
other than statements of historical fact may be forward‐looking statements or information. More particularly
and without limitation, this news release contains forward ‐looking statements and information relating to
the closing of the Transaction, the conditions to completing the Transaction, timing and receipt of regulatory,
shareholder and exchange approvals, future plans and business objectives of the Company and other
matters. The forward ‐looking statements and information are based on certain key expectations and
assumptions made by management of the Company. As a result, there can be no assurance that the proposed
Transaction or related matters will be completed as proposed or at all. Alt hough management of the
Company believes that the expectations and assumptions on which such forward -looking statements and
information are based are reasonable, undue reliance should not be placed on the forward ‐looking
statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about
the current expectations and plans of management of the Company relating to the future. Readers are
cautioned that reliance on such statements and information may not be appropriate for other purposes, such
as making investment decisions. Since forward ‐looking statements and information address future events
and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of factors and risks. These include, but are not
limited to, the Company's ability to obtain regulatory, shareholder and exchange approvals, and the
Company's ability to complete the Transaction as currently proposed or at all. Accordingly, readers should
not place undue reliance on the forward‐looking statements and information contained in this news release.
Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements
and information contained in this news release are made as of the date hereof and no undertaking is given
to update publicly or revise any forward ‐looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable securities laws. The forward-looking
statements or information contained in this news release are expressly qualified by this cautionary
statement.