{kanada_flagge}Q2 Metals Corp (TSX.V: QTWO; OTCQB: QUEXF; FRA: 458) has successfully closed a CAD 10.25 million financing round. This puts the lithium hard rock explorer in good stead for the upcoming drilling season at its 86 km2 Mia lithium project in the James Bay region of Quebec, Canada. In total, cash on the company’s balance sheet currently stands at more than CAD 11 million. In addition, a significant number of warrants and options are already in the money. This, together with the newly issued warrants and options at CAD 1.25, could provide the Company with additional substantial cash in the coming years without a new capital increase.
{kanada_flagge}Q2 Metals Corp (TSX.V: QTWO; OTCQB: QUEXF; FRA: 458) has successfully closed a CAD 10.25 million financing round. This puts the lithium hard rock explorer in good stead for the upcoming drilling season at its 86 km2 Mia lithium project in the James Bay region of Quebec, Canada. In total, cash on the company’s balance sheet currently stands at more than CAD 11 million. In addition, a significant number of warrants and options are already in the money. This, together with the newly issued warrants and options at CAD 1.25, could provide the Company with additional substantial cash in the coming years without a new capital increase.
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Alicia Milne, President and CEO of Q2 commented, “The closing of this private placement is an important milestone for the Company that will position us to execute a robust 2023 field exploration program expected to commence this spring, with our first drill campaign planned for this summer.”
Summary: Q2 Metals is among the first tier of young lithium hard rock exploration companies in Canada due to the location and quality of its project in James Bay, Quebec, but also due to its ability to capitalize on the market. Of particular note is the strong commitment from Australian investors, who raised the lion’s share of the placement.
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