Vancouver, B.C., July 29, 2019. QX Metals Corp. (TSX-V: QX.V) (“QX Metals” or the “Company”) is pleased to announce that it has received TSX Venture Exchange conditional approval and the requisite shareholder approval by written consent to proceed with the option transactions (the “Option Transactions”) contemplated by the Company’s two option agreements dated July 2, 2019 (the “Kalabak Option Agreement”) and July 13, 2019 (the “Zlatusha Option Agreement”) with Raiden Resources Limited (“Raiden”), an Australian Securities Exchange-listed company. As disclosed in the Company’s July 15, 2019 news release, the Company has agreed to option to Raiden, an initial 51% interest, and up to a 75% interest, in the mineral exploration license covering the Kalabak and Zlatusha projects (“Kalabak License”, “Zlatusha License”). QX Metals is the 100% holder of the Kalabak and Zlatusha Licenses, through its wholly-owned Bulgarian subsidiary Zelenrok EOOD (“Zelenrok”).
Pursuant to the conditions of the Kalabak Option Agreement, Raiden has completed its due diligence on the Kalabak License and has made initial payment to the Company of $50,000 (Australian) under the Kalabak Option Agreement.
The Zlatusha Option Agreement will proceed once Zelenrok enters into the exploration agreement with the Ministry of Energy of the Republic of Bulgaria in respect of the Zlatusha License. This is expected to occur within the coming weeks.
Please see the Company’s news release dated July 15, 2019 for further details on the Option Transactions.
About QX Metals Corp.
QX Metals Corp. is a discovery-focused mineral exploration company that strives to make high-reward discoveries in regions with proven mineral wealth. We leverage our proven technical skills and extensive corporate network to de-risk our exploration process, increase our probability of success and enhance shareholder value. The Company is focused on precious and base metal projects located in top-tier mineral districts that contain significant historical production, existing mining infrastructure and an established mining culture.
President and CEO, QX Metals Corp.
For further information regarding QX Metals, please visit our website at www.qxmetals.ca.
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although QX Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.