Q-Gold Announces $10,000,000 Financing to complete acquisition of Quartz Mountain Gold project in Oregon, USA and advance Mine Centre Camp in Ontario, Canada
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Highlights:
Proceeds of financing to enable completion of previously announced acquisition of Quartz Mountain project, a transformational USA gold acquisition with district scale including the Crone Hill and Quartz Butte advanced projects, and the Angel's Camp exploration upside
Angel's Camp boasts historical intercepts with high grade drill holes intersections of 160.5 g/t over 1.5m in QM 600 and 67.44 g/t over 4.18m in QM 403 (Alamos Gold Inc.: Quartz Mountain, October 2024)
Proceeds to also enable advancement of past-producing Mine Centre gold camp, in Ontario, Canada
Mine Centre historical drill intercepts of 11.39 g/t over 5.5m in hole QMG09-04, 16.69 g/t over 9.32 m in QMC09-05, and high-grade drill hole intercepts of 106.7 g/t over 0.23 m in Q BV-10-1and 53.47 g/t over 1.5 m in Q05-08. (NI 43-101, J. Arnold, June 2024)
Targeting multiple high-grade zones with infrastructure in place and active drilling to establish an initial mineral resource.
Proven and experienced mining team that have explored, permitted, engineered, developed and build successful mining projects.
TORONTO, Aug. 29, 2025 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd. (TSXV:QGR) ("Q-Gold" or the "Company") is pleased to announce that it has engaged BMO Capital Markets as sole agent ("Agent") in connection with a "best efforts" private placement offering of up to 66,666,667 units of the Company (the "Units") at a price of $0.15 per Unit for aggregate gross proceeds to the Company of up to $10,000,000 (the "Offering"). Each Unit shall consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to acquire one common share of the Company at a price of $0.20 for 24 months following issuance; provided, however, that if at any time after four months and one day from the issuance date of the Warrants the common shares of the Company trade at $0.25 per common share or higher on the TSX Venture Exchange ("TSXV") for a period of 10 consecutive days, the Company will have the right (but not the obligation) to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise this acceleration right.
The Units will be offered by the Agent on a "best efforts" private placement basis in each of the provinces and territories of Canada pursuant to exemptions from prospectus requirements under applicable Canadian securities laws, as well as in the United States on a private placement basis pursuant to applicable exemptions under the United States Securities Act of 1933, as amended, and to persons resident outside of Canada and the United States as agreed between the Company and the Agent. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months. Completion of ...
