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QC Copper and Gold Inc. Announces Closing of Strategic Acquisition
Toronto, Ontario--(Newsfile Corp. - March 23, 2023) - QC Copper and Gold Inc. ‎(TSXV: QCCU...
About this update from Xxix Metal Corp.
[{"type":"text","content":"QC Copper and Gold Inc. Announces Closing of Strategic AcquisitionToronto, Ontario--(Newsfile Corp. - March 23, 2023) - QC Copper and Gold Inc. ‎(TSXV: QCCU) (OTCQB: QCCUF) (\"QC Copper\" or the \"Company\") is pleased to announce the closing of its previously announced acquisition of 100% of the Opemiska West Project (the \"Interest\"), consisting of 36 mineral claims over 1560 hectares situated in the Levy and Daubree townships in the province of Québec (the \"Opemiska West Project\"). The Company acquired the interest in the Opemiska West Project pursuant to a mining property acquisition agreement dated March 3, 2023 (the \"Acquisition Agreement\") between the Company and Windfall Geotek Inc. (TSXV: WIN) (OTCQB: WINKF) (FSE: L7C2) (\"Windfall\"). As consideration for the Interest in the Opemiska West Project, the Company issued a total of 500,000 common shares in the capital of QC Copper to Windfall (the \"Consideration Shares\"). The Consideration Shares are not tradable or transferable by Windfall for 12 months following their issuance. Additionally the Opemiska West Project is subject to an 2% net smelter royalty, with a right to buy back one-half thereof at any time for a price of $1,000,000. In connection with the Acquisition, the Company and Windfall also entered into a services agreement dated March 3, 2023 (the \"Services Agreement\"). Pursuant to the Services Agreement, Windfall will provide data analysis and artificial intelligence services to identify drilling targets on the Opemiska West Project. As consideration for the services, the Company has paid a total of $125,000 to Windfall. No finders fees were be paid in connection with either the Acquisition Agreement or the Services Agreement. About QC Copper and Gold Inc.QC Copper & Gold Inc. is a copper and gold exploration company focused on the Chibougamau district of Quebec. The common shares of QC Copper and Gold Inc. are listed on the TSX Venture Exchange under the symbol \"QCCU\" and on the OTCQB under the symbol \"QCCUF\". Reader AdvisoryNeither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Certain information set forth in this news release contains forward-looking statements or informat...