Part of the capital increase consists of so-called flow-through units, which are tax-advantaged in Canada and are therefore issued at a price of CAD1.04. This is the company's way of minimizing dilution in the upcoming round. Reportedly, much of the fresh money will come from major Australian lithium investors.
Individually, Q2 Metals is offering 6,250,000 units at a price of CAD1.04 per unit (the "Series C Units"). Each Series C Unit consists of one flow-through common share of Q2 (a "FT Share") and a share purchase warrant entitling the holder to purchase one additional non-flow-through common share of Q2 at a price of CAD 1.25 per share for a period of two years. 1,350,000 units will be offered at a price of CAD 0.75 per unit (the "Series R Units"). Each Series R Unit will consist of one FT Share and one Warrant. 4,975,000 Units will be issued at a price of CAD 0.50 per Unit (the "NFT Units"). Each NFT Unit will consist of one Q2 non-flow-through common share and one two-year warrant at CAD 1.25.
Directors or officers of the Company may participate in the Offering by purchasing up to $300,000 in Series R Units or NFT Units (or any combination thereof).
Q2 Metals Corp acquired the 86 km2 Mia lithium project in the James Bay region of Quebec, Canada, late last year, which is in the neighborhood of projects held by Patriot Battery Metals and Li-FT Power. Q2 is also exploring the Big Hill and Titan gold projects in the historic goldfields of Queensland, Australia. The total Australian licenses cover 110 square kilometers in the Talgai gold fields and include 54 high-grade historic gold mines.
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