QMET Closes Agreement to Acquire Colchester Natural Hydrogen Exploration Assets Adjacent to QIMC's Nova Scotia Hydrogen District
Q Precious & Battery Metals Corp. (BTKRF) has finalized its acquisition of the Colchester project, which includes 8 licenses covering 559 claims in Nova Scotia. The property is strategically located adjacent to Quebec Innovative Materials Corp.'s Nova Scotia hydrogen district. Under the acquisition terms, QMET paid $25,000 non-refundable payment and issued 8 million common shares to the sellers. The agreement includes a 2.0% royalty on revenues from hydrogen or mineral sales, with an option to purchase 50% of the royalty for $2 million. The transaction requires CSE approval, and the issued securities have a four-month and one-day holding period.
Q Precious & Battery Metals Corp. (BTKRF) ha completato l'acquisizione del progetto Colchester, che comprende 8 licenze per un totale di 559 concessioni in Nova Scotia. La proprietà è situata strategicamente adiacente al distretto dell'idrogeno di Nova Scotia di Quebec Innovative Materials Corp. Secondo i termini dell'acquisizione, QMET ha effettuato un pagamento non rimborsabile di 25.000$ e ha emesso 8 milioni di azioni ordinarie ai venditori. L'accordo prevede una royalty del 2,0% sui ricavi derivanti dalla vendita di idrogeno o minerali, con un'opzione per acquistare il 50% della royalty per 2 milioni di dollari. La transazione necessita dell'approvazione della CSE e i titoli emessi sono soggetti a un periodo di blocco di quattro mesi e un giorno.
Q Precious & Battery Metals Corp. (BTKRF) ha finalizado la adquisición del proyecto Colchester, que incluye 8 licencias que cubren 559 reclamaciones en Nueva Escocia. La propiedad está estratégicamente ubicada junto al distrito de hidrógeno de Nueva Escocia de Quebec Innovative Materials Corp. Según los términos de la adquisición, QMET pagó un monto no reembolsable de 25,000$ y emitió 8 millones de acciones comunes a los vendedores. El acuerdo incluye una regalía del 2,0% sobre los ingresos por ventas de hidrógeno o minerales, con una opción para comprar el 50% de la regalía por 2 millones de dólares. La transacción requiere la aprobación de la CSE y los valores emitidos tienen un período de retención de cuatro meses y un día.
Q Precious & Battery Metals Corp. (BTKRF)는 노바스코샤에 위치한 559개 청구권을 포함하는 8개의 라이선스를 가진 콜체스터 프로젝트 인수를 완료했습니다. 이 부동산은 Quebec Innovative Materials Corp.의 노바스코샤 수소 지구 인접지에 전략적으로 위치해 있습니다. 인수 조건에 따라 QMET는 25,000달러의 환불 불가 금액을 지불하고 판매자에게 800만 주의 보통주를 발행했습니다. 계약에는 수소 또는 광물 판매 수익에 대한 2.0% 로열티가 포함되며, 200만 달러에 로열티의 50%를 구매할 수 있는 옵션이 있습니다. 이 거래는 CSE의 승인을 필요로 하며, 발행된 증권은 4개월 1일의 보유 기간이 적용됩니다.
Q Precious & Battery Metals Corp. (BTKRF) a finalisé l'acquisition du projet Colchester, comprenant 8 licences couvrant 559 concessions en Nouvelle-Écosse. La propriété est stratégiquement située à proximité du district d'hydrogène de Nouvelle-Écosse de Quebec Innovative Materials Corp. Selon les termes de l'acquisition, QMET a versé un paiement non remboursable de 25 000 $ et émis 8 millions d'actions ordinaires aux vendeurs. L'accord prévoit une redevance de 2,0 % sur les revenus provenant de la vente d'hydrogène ou de minéraux, avec une option d'achat de 50 % de la redevance pour 2 millions de dollars. La transaction nécessite l'approbation de la CSE, et les titres émis sont soumis à une période de détention de quatre mois et un jour.
Q Precious & Battery Metals Corp. (BTKRF) hat den Erwerb des Colchester-Projekts abgeschlossen, das 8 Lizenzen mit insgesamt 559 Claims in Nova Scotia umfasst. Das Grundstück liegt strategisch günstig angrenzend an den Wasserstoffbezirk von Quebec Innovative Materials Corp. in Nova Scotia. Im Rahmen der Übernahme zahlte QMET eine nicht erstattungsfähige Zahlung von 25.000 $ und gab 8 Millionen Stammaktien an die Verkäufer aus. Die Vereinbarung beinhaltet eine 2,0 % Lizenzgebühr auf Einnahmen aus dem Verkauf von Wasserstoff oder Mineralien, mit einer Option, 50 % der Lizenzgebühr für 2 Millionen Dollar zu erwerben. Die Transaktion bedarf der Genehmigung der CSE, und die ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten und einem Tag.
- Strategic acquisition of 559 claims adjacent to QIMC's Nova Scotia hydrogen district
- Option to reduce royalty obligation by 50% for $2 million
- Relatively low initial cash payment of $25,000 for the acquisition
- Share dilution through issuance of 8 million new common shares
- 2% revenue royalty obligation on future sales
- No immediate revenue generation from the acquired assets
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Q Precious & Battery Metals Corp. (CSE: QMET) (FSE: 0NB) (OTC Pink: BTKRF) (the "Company" or "QMET") is pleased to announce that it has closed its previously announced amended and restated acquisition agreement (the "Acquisition Agreement") with the beneficial owners of the with the beneficial owners of the Colchester project (see press releases dated April 7, 2025 and May 6, 2025). The Colchester project comprises 8 licenses totaling 559 claims, strategically positioned adjacent to Quebec Innovative Materials Corp. (QIMC)'s Nova Scotia hydrogen district.
Figure 1 QMET Mineral Licenses Map
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Figure 2 QMET Claims Geology Map
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Under the terms of the Acquisition Agreement the Company paid a non-refundable
The transaction is subject to approval of the CSE. The Sellers are arms-length to the Company. The securities issued are subject to a four month and one day hold from the date of issuance.
About QMET
Q Precious & Battery Metals exploration programs in Quebec are supervised by Dr. Mathieu Piche, OGQ, with office located in Val-d'Or. He is also a company Director. QMET has
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable Canadian securities legislation, including but not limited to statements regarding: the completion of the acquisition of the Colchester project, issuance of common shares, approval by the Canadian Securities Exchange (CSE), exploration potential, geological characteristics, potential hydrogen discoveries, leveraging known geological conditions, replicating successful exploration models, expanding strategic collaborations, and anticipated exploration plans, milestones, timelines, and benefits arising from the collaboration agreement with Quebec Innovative Materials Corp. (QIMC). Such forward-looking statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to: failure to obtain necessary regulatory approvals, including the approval of the CSE; risks associated with the closing of the transaction and potential delays; geological uncertainties and the speculative nature of mineral and hydrogen exploration; actual exploration results differing materially from expectations; inability to replicate prior exploration successes or geological conditions of other projects; availability of financing; volatility of commodity prices; competition and market conditions affecting hydrogen and mineral exploration; operational and technological risks; unforeseen environmental and permitting challenges; legal and contractual uncertainties; general business, economic, competitive, political, and social uncertainties; and the risk that anticipated benefits of the collaboration with QIMC will not be realized. Although QMET believes these statements and expectations reflected therein are based upon reasonable assumptions as of the date hereof, there can be no assurance that these assumptions will prove accurate, and actual results or developments may differ materially from those projected. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252898
FAQ
What did QMET acquire in the Colchester project acquisition?
How much did BTKRF pay for the Colchester project acquisition?
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