Business
Q-Gold Resources Initiates Private Placement for Exploration Work at Surupana Silver Property
(All figures in Canadian dollars unless otherwise stated) TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd (TSXV: QGR, OTC: QGLDF, FRA: QX9G) (“Q
About this update from Q-gold Resources Ltd
[{"type":"text","content":" (All figures in Canadian dollars unless otherwise stated) TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd (TSXV: QGR, OTC: QGLDF, FRA: QX9G) (“Q-Gold” or the “Company”) is pleased to announce it is initiating a non-brokered private placement financing (the “Offering”) to fund its previously announced exploration program at the Surupana property (the “Surupana Property”) in the silver-rich Altiplano region of southern Peru in the Puno province near Lake Titicaca. The Surupana Property houses an estimated twelve historical mine workings, which were focused on high-grade silver, copper and lead mineralisation. The Offering will consist of up to of 2,500,000 units (“Units”) priced at C$0.20 per Unit (the “Offering Price”) for gross proceeds of up to C$500,000. Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of a share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of C$0.40 for a period of 18 months following the closing date of the Offering. The Offering is expected to close on or before August 1, 2021 and is subject to customary closing conditions, including approval from the TSX Venture exchange. The proceeds of the Offering will be used to fund the exploration work at the Surupana Property, as well as for general corporate and working capital purposes. This press release is not an offer of securities for sale in the United States. The common shares may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the US. Securities Act of 1933, as amended (the \"U.S. Securities Act\") and applicable U.S. state securities laws. Q-Gold will not make any public offering of the securities in the United States. The Units, Common Shares and Warrants have not been and will not be registered under the U.S. Securities Act, or any state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Q-Gold Resources Ltd. Q-Gold Resources (TSXV: QGR, OTC: QGLDF, FRA: QX9G) is a publicly traded Canada-based mineral exploration company targeting h...