QCX Gold closes $750,000 private placement

Executive Summary

• QCX Gold Corp. closed a non‑brokered private placement raising $750,000 through the issuance of 7.5 million units at $0.10 per unit.
• Each unit includes one common share and one whole‑share purchase warrant (exercise price $0.15, 24‑month term); additional finders’ warrants were issued.
• Net proceeds are earmarked for continued exploration on the Golden Giant and Fernet properties and general working capital; the company also granted 1.41 million stock options to insiders.

Key Details

• Financing Structure: 7.5 M units @ $0.10 per unit = $750,000 gross proceeds.
• Unit Composition: 1 common share + 1 whole‑share purchase warrant (exercise price $0.15/share, exercisable for 24 months).
• Finder’s Warrants: 434,000 warrants issued; each allows purchase of one additional common share at $0.10 per share.
• Commission Paid: Cash commission of $43,400 to placement agents.
• Use of Proceeds: Funding continued exploration and evaluation of the Golden Giant and Fernet properties; supplement general working capital.
• Holding Periods: All securities subject to a four‑month plus one day hold period from issuance; resale governed by applicable securities legislation.
• Additional Equity Incentives: Grant of 1.41 M stock options at an exercise price of $0.155 per share, exercisable over five years by directors, officers and consultants; subject to a four‑month hold period from grant date.
• Beneficial Ownership Update (Albert Contardi):
• Pre‑offering: 1,302,750 common shares (~17.16% undiluted).
• Post‑offering: 2,502,750 common shares, 750,000 warrants, and 400,000 other securities (~13.60% undiluted; ~19.72% partially diluted).
• Warrants contain a “beneficial ownership cap” preventing exercise if Contardi would own ≥ 19.99% of outstanding shares post‑exercise.
• Regulatory Conditions: Closing subject to corporate and regulatory approvals, including TSX Venture Exchange acceptance.

Notable Quotes

(No direct quotes were provided in the release.)