VANCOUVER, British Columbia, March 06, 2017 (GLOBE NEWSWIRE) -- QMC Quantum Minerals Corp., (TSX-V: QMC ) (FSE:3LQ) (OTC PINK:QMCQF) (“QMC” or "the Company") , has engaged Ascenta Finance Corp. to arrange a private placement of up to $750,000. The financing will consist of issuing up to 7.5-million units at $0.10 per unit, where each unit will consist of one common share and one common share purchase warrant exercisable at $0.17 per warrant for a period of 18 months. In the event that the closing price of the Company’s shares as quoted on the TSXV exceeds $0.28 per share for ten consecutive days, the Company may accelerate the expiry date of the $0.17 warrants by giving notice to the holders, within five days of such event, thereof, and in such case, the warrants will expire on the 30 th day after the date on which such notice is given by the Company.
All securities issued pursuant to this private placement will be subject to a four-month hold. The private placement is subject to acceptance by the TSX Venture Exchange.
Finders' fees may be paid by the company in conjunction with the completion of the private placement in accordance with TSX Venture Exchange policies.
The Company intends to use the net proceeds from the private placement for working capital, advancing its recently acquired Irgon Mine Lithium project and general corporate purposes.
About the Company
QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base metal and resource properties of merit. The Company’s properties include the Irgon Mine Lithium project, two VMS properties, the Rocky Lake and Rocky-Namew known collectively as the Namew Lake District Project, and the Carrot River Gold Property. Currently, all of the company’s properties are located in Manitoba.
About Ascenta Finance Corp.
Ascenta Finance Corp. is an independent boutique institutional investment bank whose services include superior and creative advice to corporations financing, M&A, and restructuring transactions. Ascenta specializes in uncovering undervalued public and private equity investment opportunities across a variety of sectors, including resources, alternative energy, biotech and technology. Ascenta is registered as an Exempt Market Dealer in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and is a member of the Private Capital Markets Association of Canada and the National Exempt Market Association.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
“Balraj Mann”
Balraj Mann
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Tel: (604) 601-2018 Email: info@qmcminerals.com
