Gold company, Q-Gold, declares their private placement financing has been fully subscribed; provides updates regarding the Quartz Mountain transaction.
Q-Gold Resources Ltd., a Canadian-based mineral exploration company, has announced that its Offering of up to 66,666,667 units has been fully allocated. The Offering is being assisted by BMO Nesbitt Burns Inc.
The Offering is subject to a number of customary closing conditions, including receipt of approval from the TSXV. Completion of the Offering also remains subject to successful satisfaction of certain conditions.
In a recent development, Q-Gold has entered into an amendment to the share exchange agreement with 0975828 B.C. Ltd. and Alamos Gold Inc. The amendment decreases the threshold at which Q-Gold would be required to grant a re-purchasable net smelter return royalty to Alamos from 50% to 19.9%.
Peter Tagliamonte, the Chief Executive Officer of Q-Gold Resources Ltd., can be reached at +1 (416) 564-2880 or via email at [email protected].
Currently, Q-Gold is exploring for gold at the past-producing Foley Gold Mine in Mine Centre, Ontario.
It is important to note that forward-looking information in this press release is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
Additionally, no Q-Gold common shares shall be issued in respect of milestone payments if the issuances would mean the total number of Q-Gold common shares issued in respect of payment shares and milestone payments would exceed 138,326,406 Q-Gold common shares in aggregate.
In the event that the issuance of Q-Gold's common shares for milestone payments would result in Alamos holding more than 19.9% of the issued and outstanding common shares of the Company, the value of the shares that would have been issued will be satisfied by Quartz Mountain Gold Ltd. granting the NSR Royalty.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered or an exemption is available.
The company involved with a stock pledge and later participating in the purchase of a gold exploration project in Oregon is not specified in the provided context.
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