Quantum Battery closes $507,500 private placement

Executive Summary

• Quantum Battery Metals Corp. has closed a non-brokered private placement raising gross proceeds of $507,500.
• The offering consisted of 1.75 million units priced at $0.29 per unit, with net proceeds allocated to exploration activities and general corporate/working capital purposes.
• Each unit includes one common share and one common share purchase warrant exercisable at $0.40 per share, subject to specific acceleration provisions and statutory hold periods.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 1,750,000 units.
• Price Per Unit: $0.29 CAD.
• Gross Proceeds: $507,500.
• Use of Proceeds: Exploration activities, general corporate purposes, and working capital.
• Warrant Terms:
  • Each unit includes one common share purchase warrant.
  • Exercise Price: $0.40 per common share.
  • Expiration: 12 months following the closing date (5 p.m. Pacific Time).
  • Adjustment: Subject to adjustment in certain circumstances.
• Warrant Acceleration Provision:
  • Trigger Condition: If common shares trade at a daily volume-weighted average price of at least $0.80 per share on the Canadian Securities Exchange for five consecutive trading days.
  • Effect: Company may deliver written notice to accelerate expiry.
  • Expiry Date: 30th calendar day following the date of the acceleration notice.
• Hold Period: All securities subject to a statutory hold period of four months plus one day from the date of issuance.
• Regulatory Status: Closing subject to final approval of the Canadian Securities Exchange.
• Compensation: Company may pay finders' fees or issue compensation securities in accordance with applicable laws and exchange policies.