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QCX Gold Corp. Announces Closing of Private Placement of Flow-Through Units
Montreal, Quebec--(Newsfile Corp. - December 31, 2020) - QcX Gold Corp. (TSXV: QCX) (OTCQB: Q...
About this update from Qcx Gold Corp
[{"type":"text","content":"QCX Gold Corp. Announces Closing of Private Placement of Flow-Through UnitsMontreal, Quebec--(Newsfile Corp. - December 31, 2020) - QcX Gold Corp. (TSXV: QCX) (OTCQB: QCXGF) (FSE: 21MA) (\"QcX\" or the \"Company\") is pleased to announce that it has closed a non-brokered private placement offering of an aggregate of 5,067,997 flow-through units (a \"FT Unit\") of the Company at a price of $0.15 per FT Unit for gross proceeds of $760,199.55 (the \"Offering\").Each FT Unit is comprised of one common share in the capital of the Company, issued on a \"flow-through\" basis (each, a \"FT Share\"), and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). The FT Shares will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada). Each Warrant entitles the holder thereof to acquire one additional common share (\"Common Share\") of the Company, to be issued on a non-flow-through basis, at an exercise price of $0.18 until December 30, 2022. The gross proceeds derived from the sale of the FT Units under Offering will be used for general exploration expenditures on the Company's mineral properties located in Quebec.In connection with the Offering the Company paid certain eligible persons: (i) a cash commission in the aggregate of $21,305.96; (ii) an aggregate of 274,037 broker warrants (each a \"Broker Warrant\"); and (iii) an aggregate of 130,000 units (a \"Broker Unit\") in lieu of cash commission. Each Broker Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.15 until December 30, 2022. Each Broker Unit is comprised of one Common Share and one Warrant, each Warrant comprising the Broker Units having the same terms as the Warrants comprising the FT Units.The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the final approval of the TSX Venture Exchange. About QcX GoldQcX Gold is exploring for gold and VMS style mineralization on its highly prospective and well-located properties in Québec, Canada. The Golden Giant Project is located in the James Bay region of Québec, only 2.9 km away from Azimut Exploration Inc.'s Patwon discovery on their Elmer gold project. The Fernet Project is located in the Abitibi Greenstone Belt in the...