QC Copper and Gold Inc. Announces Closing of Strategic Acquisition
QC Copper and Gold Inc. Announces Closing
of Strategic Acquisition
Toronto, Ontario--(Newsfile Corp. - March 23, 2023) - QC Copper and Gold Inc. (TSXV: QCCU)
(OTCQB: QCCUF) ("
QC Copper
" or the "
Company
") is pleased to announce the closing of its
previously announced acquisition of 100% of the Opemiska West Project (the "
Interest
"), consisting of
36 mineral claims over 1560 hectares situated in the Levy and Daubree townships in the province of
Québec (the "
Opemiska West Project
").
The Company acquired the interest in the Opemiska West Project pursuant to a mining property
acquisition agreement
dated March 3, 2023 (the "
Acquisition Agreement
") between the Company and
Windfall Geotek Inc. (TSXV: WIN) (OTCQB: WINKF) (FSE: L7C2) ("
Windfall
"). As consideration for the
Interest in the Opemiska West Project, the Company issued a total of 500,000 common shares in the
capital of QC Copper to Windfall (the "
Consideration Shares
"). The Consideration Shares are not
tradable or transferable by Windfall for 12 months following their issuance. Additionally the Opemiska
West Project is subject to an 2% net smelter royalty, with a right to buy back one-half thereof at any time
for a price of $1,000,000.
In connection with the Acquisition, the Company and Windfall also entered into a services agreement
dated March 3, 2023 (the "
Services Agreement
"). Pursuant to the Services Agreement, Windfall will
provide data analysis and artificial intelligence services to identify drilling targets on the Opemiska West
Project. As consideration for the services, the Company has paid a total of $125,000 to Windfall.
No finders fees were be paid in connection with either the Acquisition Agreement or the Services
Agreement.
About QC Copper and Gold Inc.
QC Copper & Gold Inc. is a copper and gold exploration company focused on the Chibougamau district
of Quebec. The common shares of QC Copper and Gold Inc. are listed on the TSX Venture Exchange
under the symbol "QCCU" and on the OTCQB under the symbol "QCCUF".
Reader Advisory
Neither the TSX Venture Exchange Inc. 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 set forth in this news release contains forward-looking statements or information
("forward-looking statements)", including details about the business of the Company. All statements in
this news release, other than statements of historical facts, that address events or developments that
the Company expects to occur, are forward-looking statements. By their nature, forward-looking
statements are subject to numerous risks and uncertainties, some of which are beyond the
Company's control, including the impact of general economic conditions, industry conditions, volatility
of commodity prices, currency fluctuations, environmental risks, operational risks, competition from
other industry participants, stock market volatility. Although the Company believes that the
expectations in its forward-looking statements are reasonable, its forward-looking statements have
been based on factors and assumptions concerning future events which may prove to be inaccurate.
Those factors and assumptions are based upon currently available information. Such statements are
subject to known and unknown risks, uncertainties and other factors that could influence actual results
or events and cause actual results or events to differ materially from those stated, anticipated or
implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue
reliance on the forward-looking statements, as no assurance can be provided as to future results,
levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that
could affect actual results are discussed in the Company's public disclosure documents available at
www.sedar.com
. Furthermore, the forward-looking statements contained in this document are made as
of the date of this document and, except as required by applicable law, the Company does not
undertake any obligation to publicly update or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by this cautionary statement.
For further information:
QC Copper and Gold Inc.
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/159585