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Q2 Metals Announces $20 Million LIFE Private Placement of Flow-Through Shares
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About this update from Q2 Metals Corp
[{"type":"text","content":"Q2 Metals Announces $20 Million LIFE Private Placement of Flow-Through Shares\n\n\n\n\n Not for distribution to United States newswire services or for dissemination in the United States\n \n\n\n VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) --\n \n Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458)\n \n (“\n \n Q2\n \n ”\n \n or the\n \n “\n \n Company\n \n ”) announces today that it has entered into an agreement pursuant to which Canaccord Genuity Corp., as sole agent (the “\n \n Agent\n \n ”), in connection with a best efforts private placement of 20,000,000 common shares of the Company that qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Tax (as defined below) (the “\n \n FT Shares\n \n ”) at a price of $1.00 per FT Share (the “\n \n Offering Price\n \n ”), for gross proceeds of up to $20,000,000 (the “\n \n Offering\n \n ”). In addition, the Company will grant the Agent an option to sell up to an additional 5,000,000 FT Shares at the Offering Price to raise additional gross proceeds of up to $5,000,000 (the “\n \n Agent’s Option\n \n ”) on the same terms and conditions as set out herein. The Agent’s Option is exercisable in whole or in part at any time, up to the closing date.\n \n\n The 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\n \n Income Tax Act\n \n (Canada) (the “\n \n Tax Act\n \n ”), 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 “\n \n Qualifying Expenditures\n \n ”) related to the Company’s projects in Québec, on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2025. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2025 to the subscribers for the FT Shares purchased in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares and/or the Qualifyin...