TORONTO, Jan. 04, 2022 (GLOBE NEWSWIRE) — Pursuant to a private placement transaction that closed on December 31, 2021 (the “Offering”), Mr. Stan Bharti acquired an aggregate total of 9,090,909 units of Q-Gold Inc. (the “Issuer”) (the “Units”) at a price of $0.11 per Unit for a total acquisition cost of $1,000,000. Each Unit was comprised of a flow through common share of the Issuer (a “Common Share”) and a half warrant (each whole warrant, a “Warrant”), with each Warrant exercisable to acquire one Common Share at a price of $0.20 at any time prior to December 31, 2023. Following completion of the Offering, the Acquiror beneficially owns 9,090,909 Common Shares of the Issuer, representing approximately 16% of the issued and outstanding on a non-diluted basis and 24% on a diluted basis.
The Acquiror acquired the Units, Common Shares and Warrants for investment purposes. It may acquire additional securities of the Issuer in the future or may dispose of securities of the Issuer.
For more information, or for a copy of the report filed under applicable securities laws by the Acquiror in connection with the transactions referred to in this press release, please contact the Acquiror at 416 861 5933.
The address of the Acquiror is
198 Davenport Road