Quebec Precious Metals Corporation operation Plan...
Transaction Summary
• Canada Strategic Metals Inc. (CJC), Matamec Explorations Inc. (MAT) and Sphinx Resources Ltd. (SFX), three Quebec-focused mineral exploration companies listed on the TSX-V.
• Goldcorp Inc. to invest at least $3.7 M in QPM to hold 14% undiluted,
provide technical expertise during exploration through creation of a technical committee.
- Completion of plan of arrangement between CJC and MAT, CJC is the surviving entity.
- Consolidation of shares by CJC and MAT (4.16 to 1).
- MAT shareholders to receive 0.267697315 share of QPCM in exchange for each common share of MAT.
- Transaction provides CJC and MAT shareholders with premiums of 41% and 32% respectively to the 20-day volume weighted average price of CJC and MAT on the TSX-V.
- Asset purchase of SFX’s gold projects for 1.2 M shares of QPM and Sirios Resources Inc. 50% interest in Cheechoo-lonore Trend project for 0.3 M shares of QPM.
- Completion of private placement and investor rights agreement with Goldcorp.
- Approval by CJC and MAT shareholders on June 14, 2018 and TSX Venture.
- Closing of transaction expected around June 22, 2018.
Operation Plan (2018-2019)
• June 22, 2018 - Close transaction and creation of QPM.
• Q2 2018 - Drill on Sakami (7,255 m/21 holes completed, results pending).
• Q3 2018 - Q1 2019 - Drill on Sakami (30,000 m) for resource estimate & other targets.
• Q4 2019 - Prepare Sakami mineral resource estimate (Inferred category).
• Q3 2018 - Q2 2019 - Sell or find partners for non-gold, non-James Bay region assets.
• Ongoing - Seek out more advanced stage gold projects for acquisition.