Vancouver, B.C., March 7, 2019. QX Metals Corp. (TSX-V: QX.V) (“QX Metals” or the “Company”) announces the re-pricing of 616,668 Stock Options to a new exercise price of $0.20 per common share (the “Re-Priced Stock Options”), subject to TSX Venture Exchange acceptance as well as the approval of the Company’s disinterested shareholders (as it relates to 450,002 Re-Priced Stock Options held by insiders). Effective February 21, 2019, Company consolidated its common shares on the basis of three old common shares for one new common share, which resulted in all of its securities being consolidated and exercise prices of convertible securities adjusted accordingly. Accordingly, the post-consolidation exercise prices now being reduced to $0.20 ranged from $0.60 to $0.90.
The Re-Priced Stock Options will remain exercisable for a period of 5 years from their original grant date in accordance with the terms of the Company’s stock option plan. Details of the repricing will be further disclosed in the Company’s information circular for its next annual general meeting of shareholders, in accordance with TSX Venture Exchange policies. A total of 166,666 Re-Priced Stock Options are held by consultants for which shareholder approval is not required to effect the re-pricing.
About QX Metals Corp.
QX Metals is a mineral exploration company active in the Black Sea region of Eastern Europe. The Company has over 4 years of regional experience both technically and operationally within Bulgaria, Serbia, Turkey and Romania, and has established a compliment of local technical, logistical, community and corporate support. QX Metals has demonstrated its ability to identify new copper-gold porphyry and epithermal targets, and believes it has one of the most extensive proprietary geological/exploration databases for Eastern Europe in the industry. The Company is committed to building a robust portfolio of high quality copper and gold projects with the potential to become world-class mining assets.
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.