QcX Gold Completes Acquisition
Rhea-AI Summary
QcX Gold (OTC: QCXGF) completed acquisition of multiple mining claim blocks in the Batchawana Bay area of northern Ontario pursuant to an agreement dated October 14, 2025. Consideration included 6,000,000 common shares at a deemed price of $0.28 per share and a cash payment of $15,000. All securities are subject to a statutory hold period of four months and one day. The Company granted a 3% net smelter returns royalty (NSR) to the vendor, with the Company having the option to repurchase up to 1.5% of the NSR for $1,000,000.
Positive
- Equity consideration: 6,000,000 shares at $0.28 ($1.68M)
- Cash payment: $15,000 completed on closing
- Company secured Batchawana Bay mining claim blocks
Negative
- Granted 3% NSR on the Property to vendor
- Full NSR buyback requires $1,000,000 cash
- Issuance of 6,000,000 shares creates immediate dilution
News Market Reaction
On the day this news was published, QCXGF declined 10.57%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - November 7, 2025) - QcX Gold Corp. (TSXV: QCX) (OTC Pink: QCXGF) (FSE: 21MA) ("QcX" or the "Company") is pleased to announce that, further to its press release of October 20, 2025, it has acquired several strategically located mining claim blocks (the "Property") in the Batchawana Bay area of northern Ontario. The Property was acquired pursuant to a mining claim acquisition agreement (the "Agreement") dated October 14, 2025 with an arm's-length vendor (the "Vendor").
As consideration for the Property, the Company has issued an aggregate of 6,000,000 Common Shares at a deemed price of
In addition, the Company has granted a
About QcX Gold
QcX Gold is exploring for gold and VMS style mineralization on its highly prospective and well-located properties in Québec, Canada. The Golden Giant Project is located in the James Bay region, only 2.9 km from Azimut Exploration Inc.'s Patwon discovery on their Elmer gold project. The Fernet Project is located in the Abitibi Greenstone Belt and is contiguous with Wallbridge Mining Company Limited's Fenelon/Martinière property. Both properties are in close proximity to major discoveries which bodes well for exploration.
On behalf of the Board of Directors:
Aaron Stone, P.Geo.
Vice President Exploration
aaron.stone@qcxgold.com
416-361-2515
Neither the 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.
Forward-Looking Statements:
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program, the expected positive exploration results, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273613
FAQ
What did QcX Gold (QCXGF) acquire on November 7, 2025?
How much did QcX Gold (QCXGF) pay for the Batchawana Bay property?
What royalty did QcX Gold (QCXGF) grant on the acquired property?
Are the shares issued by QcX Gold (QCXGF) immediately tradable?
How does the NSR buyback work for QcX Gold (QCXGF)?
What is the implied equity value of the shares issued by QcX Gold (QCXGF)?
