Q2 Metals Raises $70 Million in a Private Placement of Common and Flow-Through Shares
Q2 Metals (QTWO.V) on Tuesday said it closed a private placement of common and flow-through shares, raising $70 million.The company issued 20.4-million common shares at $2.45 apiece for $50 million, which includes the full exercise of the underwriters' option for $10 million, and 5.6-million flow-through shares priced at $3.60 each for $20 million.Proceeds received from the sale of the common shares will be used in advancing the development of its Cisco Lithium project, as well as for working capital and general corporate needs.Shares of the company were last seen down $0.12 to $3.02 on the TSX Venture Exchange.Price: $3.02, Change: $-0.12, Percent Change: -3.82%