Quebec Precious Metals Receives Payment of $200,000 from the Sale of Non-Core Asset in Ontario

Rhea-AI Summary

Quebec Precious Metals (CJCFF) has announced the receipt of a $200,000 payment plus additional valuable consideration from International Explorers and Prospectors Inc. (IEP). The payment is related to the sale of QPM's 50% undivided interest in specific mining rights that are part of the Matheson Township mining property in Ontario. This transaction represents the company's divestment of a non-core asset.

Positive

• Received $200,000 cash payment from asset sale
• Successfully divested non-core asset to focus on core operations

Negative

• None.

MONTREAL, QC / ACCESS Newswire / January 17, 2025 / Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM") is pleased to announce that it has received a payment of $200,000 plus other valuable consideration from International Explorers and Prospectors Inc. ("IEP") in connection with the sale to IEP of its 50% undivided interest in certain mining rights forming part of the Matheson Township mining property located in the Province of Ontario.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

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.

SOURCE: Quebec Precious Metals Corporation

View the original press release on ACCESS Newswire

FAQ

How much did Quebec Precious Metals (CJCFF) receive for its Matheson Township property sale?

Quebec Precious Metals received $200,000 plus additional valuable consideration for selling its 50% undivided interest in the Matheson Township mining property.

What percentage of the Matheson Township mining property did CJCFF sell to IEP?

Quebec Precious Metals sold its 50% undivided interest in certain mining rights of the Matheson Township property to International Explorers and Prospectors Inc.

Where is the mining property that CJCFF sold located?

The mining property is located in Matheson Township in the Province of Ontario, Canada.

What type of asset did Quebec Precious Metals (CJCFF) sell in January 2025?

Quebec Precious Metals sold a non-core asset consisting of mining rights in the Matheson Township mining property in Ontario.