/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
TORONTO, Nov. 16, 2020 /CNW/ - QC Copper and Gold Inc.
("QC Copper" or the "Company") (TSXV: QCCU), is
pleased to announce a non-brokered private placement offering for
aggregate gross proceeds of up to $3,000,000 consisting of a combination of: (i) a
minimum of $2,000,000 in units of the
Company (the "Units") at a price of $0.15 per Unit and (ii) flow-through units of the
Company (each a "FT Unit") at a price of $0.18 per FT Unit.
Each Unit will be comprised of one common share in the capital
of the Company (a "Common Share") and one-half of one Common
Share purchase warrant ("Warrant"). Each Warrant is
exercisable to acquire one Common Share in the capital of the
Company (a "Warrant Share") at an exercise price of
$0.20 per Warrant Share for a period
of 24 months from closing of the Offering.
Each FT Unit will be comprised of one common share in the
capital of the Company (within the meaning of the Income Tax Act
(Canada) (a "FT Common
Share") and one-half of one Common Share purchase warrant
("FT Warrant"). Each FT Warrant is exercisable to acquire
one Common Share (a "FT Warrant Share") at an exercise price
of $0.22 per FT Warrant Share for a
period of 24 months from closing of the Offering.
The Company intends to use the net proceeds from the sale of
Units towards its exploration and development work on the Opemiska
Copper Project in Chapais, Quebec,
and for general corporate and working capital purposes. The Company
intends to use the net proceeds from the sale of FT Units towards
its exploration work on the Opemiska Copper Project in Chapais, Quebec.
The Common Shares and Warrants underlying the Units and the FT
Common Shares and FT Warrants underlying the FT Units to be issued
under the Offering will have a hold period of four months and one
day closing of the Offering.
In connection with the Offering, the Company may pay finder's
fee equal to 7.0% of the aggregate gross proceeds received by the
Company from the sale of Units and FT Units, payable in Units at a
price of $0.15 per Unit.
The issuance of the Units and FT Units, and payment of the
Finder's Fee is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including the
approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or
sold within the United States or
to, or for the account or benefit of, U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws, unless an exemption from such registration is
available.
About the Opemiska Copper Complex
The Opemiska Copper Complex is located adjacent to Chapais,
Quebec, within
the Chibougamau region. Opemiska is also within the
Abitibi Greenstone belt and within the boundaries of the Province
of Quebec's Plan Nord, which promotes and funds
infrastructure and development of natural resource projects. The
Opemiska property covers 12,782 hectares and covers the past
producing Springer, Perry, Robitaille and Cooke mines, owned and
operated by Falconbridge. The project has the ideal in-place
infrastructure, including a power station and direct access to
Highway 113 and the Canadian National Railway.
For information and updates on QC Copper and Gold, please
visit: www.qccopper.com
And please follow us on Twitter @qccopper
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Certain information in this press release
may contain forward-looking statements. This information is based
on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. QC Copper and Gold Inc. assumes no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to QC Copper and Gold Inc. Additional information
identifying risks and uncertainties is contained in filings by QC
Copper and Gold Inc. with Canadian securities regulators, which
filings are available under QC Copper and Gold Inc. profile
at www.sedar.com.
SOURCE QC Copper & Gold Inc.
