NEWS!! $1.1 million PP completed.QMC closes private placement for $1.1-million 2017-05-11 17:45 ET - News Release Mr. Balraj Mann reports QMC QUANTUM MINERALS CORP. CLOSES PRIVATE PLACEMENT QMC Quantum Minerals Corp. has closed the $1.1-million financing announced in its news release on March 7, 2017. The financing was closed in two tranches, $825,000 on April 12, 2017, and $275,000 on May 5, 2017, for a total of 11 million units at 10 cents per unit, where each unit consists of one common share and one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of 17 cents for a period of 18 months from closing of each tranche of the financing. All securities issued pursuant to this private placement will be subject to a four-month-plus-one-day hold period from the issuance date. As per Multilateral Instrument 61-101, three insiders of the company purchased 1.75 million units in the private placement. In connection with the private placement, the company paid finders' fees to arm's-length third parties consisting of $40,640 cash and 406,440 brokers' options, which allow the holder to acquire, for 10 cents per option, one common share and one common share purchase warrant exercisable at 17 cents per warrant for a period of 18 months. The company may accelerate the expiry date of the 17-cent warrants, in the event that the closing price of the company's shares as quoted on the TSX Venture Exchange exceeds 28 cents per share for 10 consecutive days by giving notice to the holders, within five days of such event, thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company. The company intends to use the net proceeds from the private placement for working capital, advancing its projects and general corporate purposes. About QMC Quantum Minerals Corp. QMC is a company based in British Columbia and engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base metal and resource properties of merit. The company's properties include the Irgon lithium mine project, two VMS properties -- the Rocky Lake and Rocky-Namew known collectively as the Namew Lake district project -- and the Carrot River gold property. Currently, all of the company's properties are located in Manitoba.