MONTREAL, Nov. 08, 2018 (GLOBE NEWSWIRE) — Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”), the parent company of Matamec Explorations Inc. (“Matamec”) announces that they have signed an Agreement. Pursuant to this signature, QPM will issue an aggregate of 145,000 common shares in satisfaction of an aggregate of $88,450 of indebtedness at a deemed price of $0.61 per common share, indebtedness is owed to a service provider of Matamec.
The Company determined to satisfy the indebtedness, of its subsidiary, with common shares in order to preserve its cash for its existing operations.
The shares will be issued upon acceptance by the TSX Venture Exchange and approval by the directors of the Company. The common shares issued in satisfaction of the indebtedness will be subject to a four month hold period from the date of issuance.
About Quebec Precious Metals Corporation
QPM is a new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay region, Quebec, near Goldcorp’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore this project to advance it to the mineral resource estimate stage.
For more information please contact:
Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca
Paradox Public Relations
Tel: 514 341-0408
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.