VANCOUVER, British Columbia, April 29, 2026 (GLOBE NEWSWIRE) — Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or the “Company”) is happy to announce that it has entered into an settlement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a bought-deal private placement basis, (i) 16,327,000 common shares of the Company (the “Common Shares”) at a worth of $2.45 per Frequent Share (“Common Share Offering Price”) for combination gross proceeds of $40,001,150; and (ii) 5,556,000 frequent shares of the Firm that can qualify as a “flow-through share” throughout the that means of subsection 66(15) of the Revenue Tax Act (Canada) (the “Tax Act”) (the “FT Shares”) at a worth of $3.60 per Movement-By way of Share for combination gross proceeds of $20,001,600 (collectively the “Offering”).
The Firm shall grant the Underwriters an choice to buy as much as a further 4,082,000 Frequent Shares on the Frequent Share Providing Worth for added gross proceeds of as much as $10,000,900 exercisable at any time as much as 48 hours previous to the closing of the Providing (the “Underwriters’ Option“).
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 Income Tax Act (Canada) (the “Tax Act”), to incur (or be deemed to incur) eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” (as each phrases are outlined within the Tax Act) (the “Qualifying Expenditures”) associated to the Firm’s initiatives in Québec, on or earlier than December 31, 2027, and to surrender all of the Qualifying Expenditures in favour of the subscribers of the FT Shares efficient December 31, 2026. Within the occasion the Firm is unable to surrender Qualifying Expenditures efficient on or previous to December 31, 2026 to the subscribers for the FT Shares bought in an combination quantity not lower than the gross proceeds raised from the problem of the FT Shares and/or the Qualifying Expenditures are in any other case lowered by the Canada Income Company, the Firm will indemnify every FT Share subscriber for any further taxes payable by such subscriber because of the Firm’s failure to surrender the Qualifying Expenditures or because of the discount, as agreed.
The online proceeds obtained from the sale of the Frequent Shares can be utilized in advancing the event of the Firm’s Cisco Lithium Undertaking, in addition to for working capital and common company functions.
The Providing is anticipated to shut on or about Might 26, 2026, or such different date because the Firm and Canaccord Genuity could agree and is topic to sure situations together with, however not restricted to, the receipt of all obligatory regulatory and different approvals together with the conditional approval of the TSX Enterprise Trade.
More Read
The Frequent Shares and FT Shares can be supplied by means of non-public placement pursuant to relevant exemptions from prospectus necessities in every of the provinces of Canada and in america pursuant to an exemption from the registration necessities of america Securities Act of 1933, as amended, (the “1933 Act”) and in such different jurisdictions outdoors of Canada and america supplied it’s understood that no prospectus submitting or comparable obligation arises in such different jurisdiction.
ABOUT Q2 METALS CORP.
Q2 Metals is a Canadian mineral exploration firm targeted on the Cisco Lithium Undertaking, situated throughout the better Nemaska conventional territory of the Eeyou Istchee, James Bay area of Quebec, Canada. The Cisco deposit is 6.5 km from the Billy Diamond Freeway, which ends up in rail amenities within the City of Matagami, ~150 km to the south.
More Read
The Inferred Mineral Useful resource Estimate (“MRE”) on the Cisco Lithium Undertaking defines a pit constrained 270 Mt at 1.36% Li2O at a cut-off grade of 0.4% Li2O with a further underground constrained MRE of 24 Mt at 1.34 Li2O at a cut-off grade of 0.7% Li2O, for a complete mixed inferred mineral useful resource of 295 Mt at 1.36% Li2O. The deposit stays open alongside strike, with a number of further excessive potential targets recognized throughout the broader 41,253 ha venture space.
FOR FURTHER INFORMATION, PLEASE CONTACT:
WWW.Q2Metals.com
Ahead-Trying Statements
Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes could range materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated. Though the Firm has tried to establish necessary dangers, uncertainties and components which may trigger precise outcomes to vary materially, there could also be others that trigger outcomes to not be as anticipated, estimated or meant. The Firm doesn’t intend, and doesn’t assume any obligation, to replace this forward-looking data besides as in any other case required by relevant regulation.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
