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PTX Metals Inc. Announces Private Placement Amendments
Newsfile· 2025-09-16 20:30
Core Viewpoint - PTX Metals Inc. is expanding its private placement offerings to raise up to $3,500,000 through a LIFE Offering and an additional $1,500,000 through a Non-LIFE Offering, aimed at funding corporate expenses and eligible exploration activities in Ontario [1][6][2]. Group 1: LIFE Offering Details - The LIFE Offering includes hard dollar units (HD Units) priced at $0.10 each and charity flow-through units (CFT Units) priced at $0.15 each, with a total target of $3,500,000 [1][7]. - Each Unit consists of one common share and one-half of a share purchase warrant, with the warrant exercisable at $0.16 for 36 months [1]. - The proceeds from the CFT Units will be allocated to Canadian exploration expenses related to the Company's projects, with expenditures to be incurred by December 31, 2026 [3]. Group 2: Non-LIFE Offering Details - The Non-LIFE Offering aims to raise up to $1,500,000 through flow-through units (FT Units) priced at $0.135 each and an additional $500,000 through CFT Units [6]. - FT Units will also consist of one common share and one-half of a warrant, with the CFT Units having identical terms to those in the LIFE Offering [6]. Group 3: Regulatory and Insider Participation - The offerings are being conducted under the Listed Issuer Financing Exemption, allowing for no hold period under Canadian securities laws [4]. - Insiders may participate in the offerings, which will be treated as related party transactions, exempting them from certain formal valuation and minority approval requirements [9]. Group 4: Closing and Additional Information - The closing of both offerings may occur in multiple tranches, with the final closing expected on September 26, 2025, subject to regulatory approvals [8]. - Eligible finders will receive a cash fee of 7% of the gross amount raised and finder warrants equal to 7% of the units issued [10].
Q2 Metals Announces Closing of C$26 Million Private Placement of Flow-Through Shares
Globenewswire· 2025-08-14 13:36
Core Viewpoint - Q2 Metals Corp. has successfully closed an upsized private placement of 26 million flow-through shares, raising total gross proceeds of $26 million to fund Canadian exploration expenses related to its mineral projects in Québec [1][3]. Group 1: Offering Details - The private placement consisted of 26,000,000 common shares sold at a price of $1.00 per share, including the full exercise of the Agent's option for an additional $5 million [1]. - The offering was conducted on a best efforts basis by Canaccord Genuity Corp. as the sole agent and bookrunner [2]. - The offering included 25,000,000 LIFE FT Shares and 1,000,000 Non-LIFE FT Shares, utilizing various prospectus exemptions [2]. Group 2: Use of Proceeds - The gross proceeds from the sale of the FT Shares will be used to incur eligible "Canadian exploration expenses" related to the Company's mineral projects in Québec, with a commitment to renounce these expenditures to subscribers by December 31, 2025 [3]. Group 3: Agent Compensation - As compensation for its services, the Agent received a cash commission of $1.3 million and 1.3 million non-transferable broker warrants, allowing the purchase of common shares at $0.90 each for three years [4]. Group 4: Regulatory and Compliance - The offering is subject to final approval from the TSX Venture Exchange, with specific hold periods for the LIFE FT Shares and Non-LIFE FT Shares under Canadian securities laws [5]. Group 5: Company Overview - Q2 Metals Corp. is focused on the Cisco Lithium Project in Québec, which spans 41,253 hectares and has significant potential for lithium mineralization [7][8]. - The Cisco Project has an initial exploration target estimating between 215 to 329 million tonnes of lithium mineralization at grades of 1.0 to 1.38% Li2O [8]. - Ongoing drill testing indicates potential for significant expansion at the Cisco Mineralized Zone, with results expected in Q3 2025 [9].
Q2 Metals Announces Upsized Private Placement of Flow-Through Shares
Globenewswire· 2025-07-25 13:06
Core Viewpoint - Q2 Metals Corp. has amended its agreement with Canaccord Genuity Corp. to increase the size of its private placement to raise gross proceeds of $21,000,000 through the issuance of flow-through shares at a price of $1.00 per share [1] Group 1: Offering Details - The Offering will consist of 21,000,000 common shares, including 20,000,000 LIFE FT Shares and 1,000,000 Non-LIFE FT Shares [1] - The Agent has an option to sell an additional 5,000,000 LIFE FT Shares, potentially raising up to $5,000,000 more [1] - The Offering is expected to close on or about August 14, 2025, subject to regulatory approvals [4] Group 2: Use of Proceeds - The gross proceeds from the sale of FT Shares will be used to incur eligible Canadian exploration expenses related to the Company's projects in Québec, with a deadline for incurring these expenses by December 31, 2026 [3] - The Company will renounce all qualifying expenditures in favor of the subscribers effective December 31, 2025 [3] Group 3: Company Overview - Q2 Metals is focused on the Cisco Lithium Project in Québec, which consists of 801 claims covering 41,253 hectares [9] - The Cisco Project has an initial exploration target estimating potential lithium mineralization of 215 to 329 million tonnes at grades ranging from 1.0% to 1.38% Li2O [10] - Ongoing drill testing at the Cisco Mineralized Zone shows potential for significant expansion, with results expected in Q3 2025 [11]
Q2 Metals Announces $20 Million LIFE Private Placement of Flow-Through Shares
GlobeNewswire News Room· 2025-07-23 20:31
Group 1 - Q2 Metals Corp. has entered into an agreement for a best efforts private placement of 20,000,000 common shares at a price of $1.00 per share, aiming for gross proceeds of up to $20,000,000 [1][2] - The company will grant the agent an option to sell an additional 5,000,000 shares, potentially raising an extra $5,000,000 [1] - The offering is expected to close around August 14, 2025, subject to regulatory approvals [3] Group 2 - Proceeds from the sale of the shares will be used to incur eligible Canadian exploration expenses related to the company's projects in Québec, with a deadline for renouncement set for December 31, 2025 [2] - The FT Shares will be offered to purchasers in Canada and other qualifying jurisdictions, exempt from a hold period under applicable Canadian securities laws [4] Group 3 - Q2 Metals is focused on the Cisco Lithium Project in Québec, which consists of 801 claims covering 41,253 hectares [7] - The Cisco Project has an initial exploration target estimating potential lithium mineralization of 215 to 329 million tonnes at grades ranging from 1.0% to 1.38% Li2O [8] - Ongoing drill testing at the Cisco Project shows potential for significant expansion, with results expected in Q3 2025 as the company works towards a maiden resource estimate [9]