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QMET Closes Agreement to Acquire Colchester Natural Hydrogen Exploration Assets Adjacent to QIMC's Nova Scotia Hydrogen District
Newsfileยท 2025-05-21 09:30
Core Viewpoint - Q Precious & Battery Metals Corp. has successfully closed an amended acquisition agreement for the Colchester project, which includes 8 licenses and 559 claims, strategically located near Quebec Innovative Materials Corp.'s hydrogen district [1]. Acquisition Details - The Company made a non-refundable payment of $25,000 and issued 8,000,000 common shares to the sellers in exchange for the Colchester project [5]. - The sellers will receive a 2.0% royalty on revenues from the sale of hydrogen or other minerals from the property, with the option for the Company to purchase 50% of this royalty for $2,000,000 [5]. Regulatory and Operational Context - The transaction is pending approval from the Canadian Securities Exchange (CSE) [6]. - The sellers are considered arms-length to the Company, and the issued securities will be subject to a hold period of four months and one day from the issuance date [6]. Company Overview - Q Precious & Battery Metals is focused on exploration programs in Quebec, targeting critical and precious metals as well as natural hydrogen [7]. - The Company holds a 100% interest in various mineral claims, including the McKenzie East Gold Project, LaCorne South Critical Minerals Project, and the Matane Natural Hydrogen Project, in collaboration with Quebec Innovative Materials Corp. [7].