Highlights
12,808,333 warrants issued in the Company's February 2023 private placement financing have been exercised.
Total proceeds of $7,684,999.80 have been received.
VANCOUVER, BC / ACCESS Newswire / February 26, 2025 / Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (" Q2 " or the " Company ") is pleased to announce that a total of 12,808,333 share purchase warrants bearing a strike price of $0.60 per share (the "Warrants") were exercised prior to their expiry date. The Warrants were issued in connection with a private placement financing that closed on February 23, 2023. Total proceeds of $7,684,999.80 was received from the exercised Warrants.
"We are extremely pleased to add the cash proceeds from the exercise of these expiring Warrants to Q2's strong balance sheet. Our fiscal year-end of February 28 will reflect a cash position of approximately $12.3m. Our fully funded 2025 winter drill campaign at Cisco is underway and we look forward to displaying our core and speaking with investors at a very busy PDAC next week," said Alicia Milne, President and Chief Executive Officer of Q2 Metals.
Upcoming Events
PDAC Booth and Core Shack
The Company will be attending and exhibiting on site at the 2025 Prospectors & Developers Association of Canada event ("PDAC 2025") in Toronto, ON.
Q2 is exhibiting in the Investors Exchange from March 2 - 5, 2025 at booth number 2726 and will also be exhibiting core from the Cisco Lithium Project at the PDAC 2025 Core Shack on March 4 - 5, 2025.
For more information on PDAC 2025, please click here.
PDAC Quebec Day: Critical & Strategic: Mining in Québec
Q2 Metals is honoured to have been selected to provide a corporate spotlight presentation during Quebec Day at PDAC. Q2 Metals President and CEO Alicia Milne will present at 10:25am on March 4 th in Room 206D.
For more information on Quebec Day, click here .
About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec, where drilling is currently underway.
The Cisco Project is comprised of 767 claims, totaling 39,389 hectares. The main mineralized zone is just 6.5 kilometres ("km") away from the Billy Diamond Highway and transects the Project. The town of Matagami, which features direct rail link to much of James Bay, is approximately 150 km to the south.
Cisco has district-scale potential with an already identified mineralized zone and 2024 discovery drill results that include:
120.3 metres at 1.72% Li 2 O (hole CS-24-010);
215.6 metres at 1.69% Li 2 O (hole CS-24-018);
347.1 metres at 1.35% Li 2 O (hole CS-24-021); and
188.6 metres at 1.56% Li 2 O (hole CS-24-023)
The Cisco Project 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 District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com
Jason McBride
Corporate Communications
Jason@Q2metals.com
Chris Ackerman
Corporate Communications
Chris@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com
www.Q2Metals.com
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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 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 regarding 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 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.
SOURCE: Q2 Metals Corp.
View the original press release on ACCESS Newswire