Pursuant to the Agreement, the Company has agreed to settle debt in the amount of $113,405.28 through the issuance of 872,348 units (each, a "Unit") at a deemed price of $0.13 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a "Share") and one (1) Share purchase warrant (each whole, being a "Warrant"). Each Warrant will be convertible into an additional Share (a "Warrant Share") at an exercise price of $0.165 per Warrant Share and will expire on the date that is two (2) years following the date of issuance (the "Expiry Date"). The Expiry Date shall be subject to acceleration should the closing price of the Shares on the Canadian Securities Exchange (or any such other stock exchange in Canada as the Shares may trade at the applicable time) equal or exceed $0.50 for ten (10) consecutive trading days at any time from the date which is 4 months following their date of issue, the Company may accelerate the expiry date of the Warrants such that the Warrants shall expire on the date which is 30 calendar days following the date a news release is issued by the Company announcing the accelerated expiry date of the Warrants.
The Agreement and the issuance of the securities thereunder are subject to the approval of the CSE. The securities will be subject to a hold period of four months and one day pursuant to CSE policies and applicable securities laws.
About Copper Quest
The company's land holdings comprise 7 projects that span over 45,000 hectares in great mining jurisdictions of Canada and the USA. Copper Quest is committed to building shareholder value through acquisitions, discovery-driven exploration, and responsible development of its North American critical mineral portfolio of assets. The Company's common shares are principally listed on the Canadian Stock Exchange under the symbol "CQX". For more information on Copper Quest, please visit the Company's website at
