QC Copper & Gold Announces Private Placement for up to $3.0 Million
QC Copper & Gold Announces Private
Placement for up to $3.0 Million
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
TORONTO
,
Nov. 16, 2020
/CNW/ - QC Copper and Gold Inc. ("
QC Copper
" or the "
Company
")
(TSXV: QCCU), is pleased to announce a non-brokered private placement offering for aggregate
gross proceeds of up to
$3,000,000
consisting of a combination of: (i) a minimum of
$2,000,000
in
units of the Company (the "
Units
") at a price of
$0.15
per Unit and (ii) flow-through units of the
Company (each a "
FT Unit
") at a price of
$0.18
per FT Unit.
Each Unit will be comprised of one common share in the capital of the Company (a "
Common
Share
") and one-half of one Common Share purchase warrant ("
Warrant
"). Each Warrant is
exercisable to acquire one Common Share in the capital of the Company (a "
Warrant Share
") at an
exercise price of
$0.20
per Warrant Share for a period of 24 months from closing of the Offering.
Each FT Unit will be comprised of one common share in the capital of the Company (within the
meaning of the
Income Tax Act (
Canada
)
(a "
FT Common Share
") and one-half of one Common
Share purchase warrant ("
FT Warrant
"). Each FT Warrant is exercisable to acquire one Common
Share (a "
FT Warrant Share
") at an exercise price of
$0.22
per FT Warrant Share for a period of
24 months from closing of the Offering.
The Company intends to use the net proceeds from the sale of Units towards its exploration and
development work on the Opemiska Copper Project in
Chapais, Quebec
, and for general corporate
and working capital purposes. The Company intends to use the net proceeds from the sale of FT
Units towards its exploration work on the Opemiska Copper Project in
Chapais, Quebec
.
The Common Shares and Warrants underlying the Units and the FT Common Shares and FT
Warrants underlying the FT Units to be issued under the Offering will have a hold period of four
months and one day closing of the Offering.
In connection with the Offering, the Company may pay finder's fee equal to 7.0% of the aggregate
gross proceeds received by the Company from the sale of Units and FT Units, payable in Units at a
price of
$0.15
per Unit.
The issuance of the Units and FT Units, and payment of the Finder's Fee is subject to certain
conditions including, but not limited to, the receipt of all necessary approvals including the approval
of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "
U.S. Securities Act")
or any state
securities laws and may not be offered or sold within
the United States
or to, or for the account or
benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state
securities laws, unless an exemption from such registration is available.
About the Opemiska Copper Complex
The Opemiska Copper Complex is located adjacent to Chapais,
Quebec
, within
the Chibougamau region. Opemiska is also within the Abitibi Greenstone belt and within the
boundaries of the Province of Quebec's Plan Nord, which promotes and funds infrastructure and
development of natural resource projects. The Opemiska property covers 12,782 hectares and
covers the past producing Springer, Perry, Robitaille and Cooke mines, owned and operated
by Falconbridge. The project has the ideal in-place infrastructure, including a power station and
direct access to Highway 113 and the Canadian National Railway.
For information and updates on QC Copper and Gold, please visit:
www.qccopper.com
And please follow us on Twitter @qccopper
Forward Looking Statements
Neither 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. Certain information in this press release may contain forward-looking statements. This
information is based on current expectations that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ materially from results suggested in any
forward-looking statements. QC Copper and Gold Inc. assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could differ from those
reflected in the forward looking-statements unless and until required by securities laws applicable
to QC Copper and Gold Inc. Additional information identifying risks and uncertainties is contained
in filings by QC Copper and Gold Inc. with Canadian securities regulators, which filings are
available under QC Copper and Gold Inc. profile at
www.sedar.com
.
SOURCE
QC Copper & Gold Inc.
View original content:
http://www.newswire.ca/en/releases/archive/November2020/16/c7653.html
%SEDAR: 00045293E
For further information:
Stephen Stewart, Chief Executive Officer, Phone: 416.644.1571, Email:
CO: QC Copper & Gold Inc.
CNW 16:41e 16-NOV-20