Q-Gold closes $1.69-million private placement

Executive Summary

• Q-Gold Resources Ltd. has closed its previously announced non-brokered private placement financing of common shares issued on a flow-through basis, raising gross proceeds of $1,694,503.
• The company issued 4,841,437 common shares at a price of $0.35 per share, with proceeds intended for exploration work on its Mine Centre gold project in Ontario.
• The transaction involved finder's fees of $127,560.24 in cash and the issuance of 364,456 non-transferable finder warrants, with final TSX Venture Exchange approval pending.

Key Details

• Gross Proceeds: $1,694,503
• Shares Issued: 4,841,437 common shares on a flow-through basis
• Price Per Share: $0.35
• Use of Proceeds: To finance exploration work on the Mine Centre gold project in Ontario, Canada
• Hold Period: Statutory four-month hold period expires on April 24, 2026
• Regulatory Status: Completion is subject to receipt of final approval of the TSX Venture Exchange
• Finder's Fees (Cash): $127,560.24 paid to eligible finders
• Finder's Warrants Issued: 364,456 non-transferable finder warrants
• Finder's Warrant Terms: Each warrant entitles the holder to acquire one common share at a price of $0.35 at any time prior to December 23, 2027