QMET Closes Agreement to Acquire Colchester Natural Hydrogen Exploration Assets Adjacent to QIMC's Nova Scotia Hydrogen District
Q Precious & Battery Metals Corp. (BTKRF) has finalized its acquisition of the Colchester project, which includes 8 licenses covering 559 claims in Nova Scotia. The property is strategically located adjacent to Quebec Innovative Materials Corp.'s Nova Scotia hydrogen district. Under the acquisition terms, QMET paid $25,000 non-refundable payment and issued 8 million common shares to the sellers. The agreement includes a 2.0% royalty on revenues from hydrogen or mineral sales, with an option to purchase 50% of the royalty for $2 million. The transaction requires CSE approval, and the issued securities have a four-month and one-day holding period.
Q Precious & Battery Metals Corp. (BTKRF) ha completato l'acquisizione del progetto Colchester, che comprende 8 licenze per un totale di 559 concessioni in Nova Scotia. La propriet脿 猫 situata strategicamente adiacente al distretto dell'idrogeno di Nova Scotia di Quebec Innovative Materials Corp. Secondo i termini dell'acquisizione, QMET ha effettuato un pagamento non rimborsabile di 25.000$ e ha emesso 8 milioni di azioni ordinarie ai venditori. L'accordo prevede una royalty del 2,0% sui ricavi derivanti dalla vendita di idrogeno o minerali, con un'opzione per acquistare il 50% della royalty per 2 milioni di dollari. La transazione necessita dell'approvazione della CSE e i titoli emessi sono soggetti a un periodo di blocco di quattro mesi e un giorno.
Q Precious & Battery Metals Corp. (BTKRF) ha finalizado la adquisici贸n del proyecto Colchester, que incluye 8 licencias que cubren 559 reclamaciones en Nueva Escocia. La propiedad est谩 estrat茅gicamente ubicada junto al distrito de hidr贸geno de Nueva Escocia de Quebec Innovative Materials Corp. Seg煤n los t茅rminos de la adquisici贸n, QMET pag贸 un monto no reembolsable de 25,000$ y emiti贸 8 millones de acciones comunes a los vendedores. El acuerdo incluye una regal铆a del 2,0% sobre los ingresos por ventas de hidr贸geno o minerales, con una opci贸n para comprar el 50% de la regal铆a por 2 millones de d贸lares. La transacci贸n requiere la aprobaci贸n de la CSE y los valores emitidos tienen un per铆odo de retenci贸n de cuatro meses y un d铆a.
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Q Precious & Battery Metals Corp. (BTKRF) a finalis茅 l'acquisition du projet Colchester, comprenant 8 licences couvrant 559 concessions en Nouvelle-脡cosse. La propri茅t茅 est strat茅giquement situ茅e 脿 proximit茅 du district d'hydrog猫ne de Nouvelle-脡cosse de Quebec Innovative Materials Corp. Selon les termes de l'acquisition, QMET a vers茅 un paiement non remboursable de 25 000 $ et 茅mis 8 millions d'actions ordinaires aux vendeurs. L'accord pr茅voit une redevance de 2,0 % sur les revenus provenant de la vente d'hydrog猫ne ou de min茅raux, avec une option d'achat de 50 % de la redevance pour 2 millions de dollars. La transaction n茅cessite l'approbation de la CSE, et les titres 茅mis sont soumis 脿 une p茅riode de d茅tention de quatre mois et un jour.
Q Precious & Battery Metals Corp. (BTKRF) hat den Erwerb des Colchester-Projekts abgeschlossen, das 8 Lizenzen mit insgesamt 559 Claims in Nova Scotia umfasst. Das Grundst眉ck liegt strategisch g眉nstig angrenzend an den Wasserstoffbezirk von Quebec Innovative Materials Corp. in Nova Scotia. Im Rahmen der 脺bernahme zahlte QMET eine nicht erstattungsf盲hige Zahlung von 25.000 $ und gab 8 Millionen Stammaktien an die Verk盲ufer aus. Die Vereinbarung beinhaltet eine 2,0 % Lizenzgeb眉hr auf Einnahmen aus dem Verkauf von Wasserstoff oder Mineralien, mit einer Option, 50 % der Lizenzgeb眉hr f眉r 2 Millionen Dollar zu erwerben. Die Transaktion bedarf der Genehmigung der CSE, und die ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten und einem Tag.
- Strategic acquisition of 559 claims adjacent to QIMC's Nova Scotia hydrogen district
- Option to reduce royalty obligation by 50% for $2 million
- Relatively low initial cash payment of $25,000 for the acquisition
- Share dilution through issuance of 8 million new common shares
- 2% revenue royalty obligation on future sales
- No immediate revenue generation from the acquired assets
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Q Precious & Battery Metals Corp. (CSE: QMET) (FSE: 0NB) (OTC Pink: BTKRF) (the "Company" or "QMET") is pleased to announce that it has closed its previously announced amended and restated acquisition agreement (the "Acquisition Agreement") with the beneficial owners of the with the beneficial owners of the Colchester project (see press releases dated April 7, 2025 and May 6, 2025). The Colchester project comprises 8 licenses totaling 559 claims, strategically positioned adjacent to Quebec Innovative Materials Corp. (QIMC)'s Nova Scotia hydrogen district.
Figure 1 QMET Mineral Licenses Map
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Figure 2 QMET Claims Geology Map
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Under the terms of the Acquisition Agreement the Company paid a non-refundable
The transaction is subject to approval of the CSE. The Sellers are arms-length to the Company. The securities issued are subject to a four month and one day hold from the date of issuance.
About QMET
Q Precious & Battery Metals exploration programs in Quebec are supervised by Dr. Mathieu Piche, OGQ, with office located in Val-d'Or. He is also a company Director. QMET has
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable Canadian securities legislation, including but not limited to statements regarding: the completion of the acquisition of the Colchester project, issuance of common shares, approval by the Canadian Securities Exchange (CSE), exploration potential, geological characteristics, potential hydrogen discoveries, leveraging known geological conditions, replicating successful exploration models, expanding strategic collaborations, and anticipated exploration plans, milestones, timelines, and benefits arising from the collaboration agreement with Quebec Innovative Materials Corp. (QIMC). Such forward-looking statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to: failure to obtain necessary regulatory approvals, including the approval of the CSE; risks associated with the closing of the transaction and potential delays; geological uncertainties and the speculative nature of mineral and hydrogen exploration; actual exploration results differing materially from expectations; inability to replicate prior exploration successes or geological conditions of other projects; availability of financing; volatility of commodity prices; competition and market conditions affecting hydrogen and mineral exploration; operational and technological risks; unforeseen environmental and permitting challenges; legal and contractual uncertainties; general business, economic, competitive, political, and social uncertainties; and the risk that anticipated benefits of the collaboration with QIMC will not be realized. Although QMET believes these statements and expectations reflected therein are based upon reasonable assumptions as of the date hereof, there can be no assurance that these assumptions will prove accurate, and actual results or developments may differ materially from those projected. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise, except as required by law.
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FAQ
What did QMET acquire in the Colchester project acquisition?
How much did BTKRF pay for the Colchester project acquisition?
What are the royalty terms in QMET's Colchester acquisition?
When will the shares issued for BTKRF's Colchester acquisition be tradeable?
