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  • Writer's pictureJeffrey White

Quebec Precious Metals Sells Non-Core Kipawa/Zeus for C$8mm!

Good news for Quebec Precious Metals (QPM-V)!


QPM has agreed to sell its 68% interest in the Kipawa exploration project and 100% interest in the Zeus exploration project to Vital Metals (ASX: VML) for total cash consideration of C$8mm. Subject to final due diligence, C$5mm of the the total C$8mm cash purchase price is payable in year 1, with the balance spread over the remaining term.


Both Kipawa and Zeus are heavy rare-earth projects and non-core to QPM. This transaction is another example of QPM successfully executing its stated strategy since 2018 of monetizing non-core assets to focus on its flagship Sakami exploration project in the James Bay region of Quebec.


The completion of this transaction further bolsters Quebec Precious Metals' strong balance sheet and market position and gives the company increased financial flexibility to further expand its James Bay QC exploration program.


With a market cap of approx. C$20mm, an already strong cash position of over C$4.5mm (PRE the VML transaction), and a clear target on an economic resource in excess of 2+mm ounces AU, QPM is compelling value and extremely well-positioned to advance its flagship project well beyond 2021.


Please contact me to learn more!

rjwhite@hingemarkets.com

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