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Lafleur Minerals announced the termination of the Option Assignment Agreement for the Brazil-Li 1 Lithium Property, dated August 7, 2023. The Agreement involved Quebec Pegmatite Corp., a subsidiary of Lafleur, and multiple parties including Brascan Resources, BHBC Exploracao Mineral, and RTB Geologia e Mineracao. As a result, Quebec Pegmatite relinquishes its option to acquire the lithium property in Brazil and has no further obligations under the Agreement. The stock symbols impacted are CSE: LFLR and OTC Pink: WPNNF.
Quebec Pegmatite Holdings Corp. (CSE: QBC, OTC Pink: WPNNF) will change its name to LaFleur Minerals Inc., effective July 2, 2024. The company's shares will start trading under the new name and symbol 'LFLR' on the Canadian Securities Exchange (CSE) on the same date. The new CUSIP for the shares will be 50684B103, and the new ISIN will be CA50684B1031. Importantly, the company's share capital will remain unchanged.
Quebec Pegmatite Holdings Corp. (OTC Pink: WPNNF) announced a non-brokered private placement of up to 5,000,000 units at $0.30 per unit, aiming to raise up to $1,500,000. Each unit consists of one common share and one warrant, allowing the holder to buy an additional share at $0.40 within three years. The warrants can expire earlier if the stock trades at or above $0.50 for 10 consecutive days. Funds will be used for exploration and working capital. Issued securities will have a hold period in Canada of four months and one day. Finders' fees might be applicable.
Quebec Pegmatite Holdings Corp. (CSE: QBC, OTC Pink: WPNNF) announced an Option Agreement with Abcourt Mines to acquire 141 mineral claims (5,579 hectares) adjacent to the Swanson gold deposit in Quebec's Abitibi Greenstone Belt. The terms include staged cash payments totaling $2 million over two years, with the option to substitute payments with shares. The property hosts significant gold and polymetallic mineralization, including notable historical gold showings. The company plans an extensive exploration program targeting gold-bearing structures. Additionally, a name change to 'Lafleur Gold Corp.' is contemplated to reflect its focus on gold and critical minerals.
Quebec Pegmatite Holdings Corp. (CSE: QBC, OTC Pink: WPNNF) announces the resignation of Mike Stier as CEO, who will continue as a board member. Paul Ténière, a professional geologist with 25 years of experience in mining and capital markets, is appointed as the new CEO. Ténière's expertise includes leading mining projects from exploration to mine development and serving in executive roles at various mining companies. He has also been involved in technical due diligence and corporate finance within the mining sector. The company granted Ténière 1,000,000 stock options at $0.25 per share, valid for five years, with vesting periods.
On May 24, 2024, Quebec Pegmatite Holdings Corp. (CSE: QBC, OTC Pink: WPNNF) and Coloured Ties Capital announced a plan to settle QPC's $1.2 million debt to Coloured Ties. The settlement involves QPC transferring 6,666,666 shares of Superior Mining International (TSXV: V.SUI) to Coloured Ties. The transaction is a 'related party transaction' and relies on exemptions from valuation and minority shareholder approval requirements due to QPC's financial difficulties. The settlement aims to improve QPC's financial position. The transaction is pending approval from the TSXV and Canadian Securities Exchange.
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