On October 12, 2023, Q Battery Metals Corp. closed the transaction. The company announced that it has issued 1,050,000 Units at an issue price of CAD 0.04 per unit for the gross proceeds of CAD 42,000 in second and final tranche and is subject to CSE approval. Each Unit consists of one flow-through common share and one half of one non-flow through share purchase warrant. Each Warrant will entitle the holder to purchase a non-flow through share at a price of CAD 0.10 per share for a two-year term. The Company paid finders fees to EMD Financial consisting of CAD 4,200 cash, 52,500 common shares and 42,000 finders warrants exercisable at CAD 0.10 per share for a two-year term.
The securities issued will be subject to a four month and one day hold from the date of issuance.