VANCOUVER, British Columbia,
March 15, 2021 /CNW/ -- QMC
Quantum Minerals Corp., (TSX.V: QMC) (FSE: 3LQ) (OTC PINK:
QMCQF) ("QMC" or "the Company") has closed its
previously announced financing for gross proceeds of $2.1-million through the issuance of 7.5-million
units at $0.28 per unit, where each
unit will consist of one common share and one common share purchase
warrant exercisable at $0.37 per
warrant for a period of 24 months, in the event that the closing
price of the Company's shares as quoted on the TSXV exceeds
$0.50 per share for ten consecutive
trading days, the Company may accelerate the expiry date of the
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.
Balraj Mann, CEO, commented:
"Canada continues to solidify its
electric vehicle manufacturing presence with General Motors (GM)
joining Ford and Fiat Chrysler, announcing its plan to produce GM's
BrightDrop EV 6000 light commercial vehicle at its CAMI plant in
Ingersoll, Ontario. This
will be Canada's first large-scale
electric delivery vehicle manufacturing plant; FedEx has placed the
first order for the EV 6000 and will take delivery of the first EV
units by the end of the year. The EV manufacturing hub of
Canada now has investments
totaling approximately $6 billion
which will significantly increase over the next few years. With
QMC's close proximity to North
America's EV Hub (Ontario,
Michigan and Ohio), we are strategically positioned to be a
key supplier in the electric vehicles battery supply chain."
As per Multilateral Instrument 61-101, two insiders subscribed
for an aggregate of 300,000 units.
In connection with the private placement, the Company paid
finder's fees to arm's length third parties consisting of
$11,200 cash.
All shares to be issued pursuant to the financing will be
subject to a four-month plus a day hold period under applicable
securities laws in Canada.
The Company intends to use the net proceeds from the private
placement for working capital, advancing its mineral properties,
and general corporate purposes.
About the Company
QMC is a British Columbia based
company engaged in the acquisition, exploration and development of
resource properties. Its objective is to locate and develop
economic precious, base, rare metal resource properties of merit.
The Company's properties include the Irgon Lithium Mine Project and
two VMS properties, the Rocky Lake
and Rocky-Namew, known collectively as the Namew Lake District
Project. 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
604-601-2018
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SOURCE QMC Quantum Minerals Corp.
