Q Precious & Battery Metals Corp. Closes Private Placement and Acquires Matane Hydrogen Project
Key Ideas
- Q Precious & Battery Metals Corp. closed the first tranche of a private placement, raising $536,555.03 for mineral and gas exploration activities and general working capital.
- The company acquired the Matane Hydrogen Project by making a payment of $25,000, issuing 6,000,000 common shares, and granting a royalty on revenues from hydrogen sales.
- The Matane Hydrogen Project is strategically located within a geological zone conducive to hydrogen generation, with potential for significant hydrogen accumulation.
- With a focus on critical minerals and energy transition resources, Q Precious & Battery Metals Corp. is dedicated to exploring and developing natural hydrogen reserves in Quebec and beyond.
Q Precious & Battery Metals Corp., based in Vancouver, Canada, announced the closure of the first tranche of their private placement and the acquisition of the Matane Hydrogen Project. The private placement raised $536,555.03 through the issuance of flow-through shares and non-flow through units, with proceeds allocated for mineral and gas exploration activities and general working capital.
The acquisition of the Matane Hydrogen Project involved a payment of $25,000, issuance of 6,000,000 common shares, and the granting of a royalty on revenues from hydrogen sales to the sellers. Additionally, a collaboration agreement with Quebec Innovative Materials Corp. led to the issuance of 4,000,000 common shares and a royalty on hydrogen sales for QIMC.
The Matane Hydrogen Project, spanning 80 claims along the Schicksock-South fault zone, is situated in a geological region with favorable conditions for natural hydrogen generation. The property's geological characteristics, including basaltic and peridotitic rocks, tectonized zones, and deep fault systems, offer an ideal environment for hydrogen accumulation.
Q Precious & Battery Metals Corp. specializes in critical minerals and energy transition resources, with a focus on exploring and developing natural hydrogen reserves. The company's commitment to innovation and sustainability drives its efforts to harness strategic resources in Quebec and other regions. While the article contains forward-looking statements and cautionary notes about potential risks, the overall sentiment is positive towards the company's initiatives in the hydrogen and mineral resource industries.