Q Precious & Battery Metals Corp. Secures Hydrogen Project Acquisition and Private Placement Funds
Key Ideas
  • Q Precious & Battery Metals Corp closed its first tranche of private placement, raising $536,555.03 through flow-through shares and non-flow-through units.
  • The company acquired the Matane Hydrogen Project, paying $25,000 to Zadkiel Holdings, issuing shares to sellers, and granting revenue royalties to them and Quebec Innovative Materials Corp.
  • Matane Hydrogen Project covers 80 claims over 26 kilometers, highlighting potential for natural hydrogen formation through oxidative hydrolysis and radiolytic reactions.
  • The company's actions demonstrate a strategic move towards renewable energy exploration and investment in the hydrogen sector.
Q Precious & Battery Metals Corp (CSE: QMET, OTCPK: BTKRF) recently announced two significant developments: the closure of their first tranche of private placement and the successful acquisition of the Matane Hydrogen Project. The company raised a total of $536,555.03 through a combination of flow-through shares priced at $0.09 per share and non-flow-through units at $0.075 per unit. Each unit included a common share and a two-year warrant exercisable at $0.10. Additionally, the company paid finder's fees amounting to $22,875 and issued 85,000 finder's warrants. Regarding the Matane acquisition, Q Precious & Battery Metals Corp paid $25,000 to Zadkiel Holdings and issued 6 million common shares to the sellers. Furthermore, the company granted a 1.2% revenue royalty to the sellers, with the option for them to buy 50% for $1.2 million. Additionally, 4 million shares were issued to Quebec Innovative Materials Corp, with a 0.80% revenue royalty granted, 50% of which is buyable for $800,000. The Matane Hydrogen Project encompasses 80 claims spread over 26 kilometers along the Schicksock-South fault zone. This project showcases the potential for natural hydrogen formation through oxidative hydrolysis and radiolytic reactions, indicating a significant focus on renewable energy exploration and investment in the hydrogen sector. Q Precious & Battery Metals Corp's recent activities signal a strategic move towards sustainable ventures and harnessing the potential of hydrogen as a renewable energy source.
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