October 4, 2017 Vancouver, British Columbia: QMC Quantum Minerals Corp., (TSX.v: QMC) (FSE: 3LQ) (OTC PINK: QMCQF) (“QMC” or "the Company"), has amended its non-brokered private placement previously announced on September 28, 2017, to 6-million units at a price of $0.12 per unit for gross proceeds of up to $720,000. Each unit will consist of one common share and one common share purchase warrant exercisable at $0.17 per warrant for a period of 18 months, in the event that the closing price of the Company’s shares as quoted on the TSXV exceeds $0.28 per share for ten consecutive days, the Company may accelerate the expiry date of the $0.17 warrants by giving notice to the holders, within five days of such event, thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the Company. The repricing was made in the context of the market.
All securities issued pursuant to this private placement will be subject to a four-month hold. The private placement is subject to acceptance by the TSX Venture Exchange.
Finders' fees may be paid by the company in conjunction with the completion of the private placement in accordance with TSX Venture Exchange policies.
The Company intends to use the net proceeds from the private placement for working capital, advancing its Irgon Lithium Mine project and general corporate purposes.
About the Company
QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base metal and resource properties of merit. The Company’s properties include the Irgon Lithium Mine project, two VMS properties, the Rocky Lake and Rocky-Namew known collectively as the Namew Lake District Project, and the Carrot River Gold Property. Currently, all of the company’s properties are located in Manitoba.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
President and Chief Executive Officer
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