QMET Closes Agreement to Acquire Colchester Natural Hydrogen Exploration Assets Adjacent to QIMC's Nova Scotia Hydrogen District
May 21, 2025 5:30 AM EDT | Source: Q Precious & Battery Metals
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 $25,000 payment and issued 8,000,000 common shares to the Sellers in exchange for the Colchester project. In addition, the Company has granted certain Sellers a 2.0% royalty on revenues from the sale of any hydrogen or other minerals on the property (the "Sellers' Royalty"). 50% of the Sellers' Royalty may be purchased for $2,000,000.
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 100% interest in mineral claims with Quebec, targeting critical and precious metals as well as natural hydrogen. Projects include the McKenzie East Gold Project, LaCorne South Critical Minerals Project and the Matane Natural Hydrogen Project in a strategic collaboration with Quebec Innovative Materials Corp.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252898
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