QMC Quantum Minerals Corp. Data Interpretation and 3-D modeling - Seite 2

Financing Increase

Further to the news release of March 6, 2017, The Company, due to overwhelming interest, has agreed to increase the private placement to $1.1-million. 

The Company has engaged Ascenta Finance Corp. to arrange a private placement of up to $1.1million (CDN). The financing will consist of issuing up to 11million units at $0.10 per unit, where each unit will consist of one common share and one common share purchase warrant exercisable at $0.17 per warrant for a period of 18 months. In the event that the closing price of the Company's shares as quoted on the TSXV exceeds $0.28 per share for ten consecutive days, the Company may accelerate the expiry date of the $0.17 warrants by giving notice to the holders, within five days of such event, thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the Company. 

All securities issued pursuant to this private placement will be subject to a four-month hold. The private placement is subject to acceptance by the TSX Venture Exchange.

Finders' fees may be paid by the company in conjunction with the completion of the private placement in accordance with TSX Venture Exchange policies.

The Company intends to use the net proceeds from the private placement for working capital, advancing its recently acquired Irgon Mine Lithium project and general corporate purposes.

QUALIFIED PERSON AND NI 43-101 DISCLOSURE

The technical content of this news release has been reviewed and approved by Bruce E. Goad, P. Geo. who is a qualified person as defined by National Instrument 43-101.

About the Company

QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base metal and resource properties of merit. The Company's properties include the Irgon Lithium Mine project, two VMS properties, the Rocky Lake and Rocky-Namew known collectively as the Namew Lake District Project, and the Carrot River Gold Property. Currently, all of the company's properties are located in Manitoba.

On behalf of the Board of Directors of

QMC QUANTUM MINERALS CORP.

"Balraj Mann"

Balraj Mann

President and Chief Executive Officer

Neither the 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 news release.

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: QMC Quantum Minerals Corp. via Globenewswire