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Q2 Metals Announces Closing of C$70 Million Private Placement of Common Shares and Flow-Through Shares
VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or the “Company”) is pleased to
About this update from Q2 Metals Corp
[{"type":"text","content":"\n \nVANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or the “Company”) is pleased to announce that the Company has closed its previously announced private placement of (i) 20,409,000 common shares of the Company (the “Common Shares”) at a price of C$2.45 per Common Share (“Common Share Offering Price”) for aggregate gross proceeds of C$50,002,050, which includes the full exercise of the Underwriters’ (as defined below) option for gross proceeds of C$10,000,900; and (ii) 5,556,000 common shares of the Company that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) (the “FT Shares”) at a price of C$3.60 per FT Share for aggregate gross proceeds of C$20,001,600 (the “Offering”).\nThe Offering was conducted on a bought deal private placement basis pursuant to an underwriting agreement dated May 26, 2026 between Canaccord Genuity Corp., as lead underwriter and sole bookrunner, and ATB Capital Markets Corp. and BMO Nesbitt Burns Inc. (collectively, the “Underwriters”), and the Company.\nThe Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Tax Act, to incur (or be deemed to incur) eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” (as both terms are defined in the Tax Act) (the “Qualifying Expenditures”) related to the Company’s mineral projects in Québec, on or before December 31, 2027, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective on or before December 31, 2026. The net proceeds received from the sale of the Common Shares will be used in advancing the development of the Company’s Cisco Lithium Project, as well as for working capital and general corporate purposes.\nAs consideration for the Underwriters’ services, the Underwriters received a cash commission of C$3,850,200.75 and 649,125 broker warrants (the “Broker Warrants”) with each Broker Warrant entitling the holder thereof to purchase one common share of the Company (a “Broker Share”) at a price of C$2.45 per Broker Share for a period of three years from the closing date of the Offering.\nThe Offering remains subject to the...