Canadian lithium explorer Q2 Metals (TSX-V:QTWO) has raised C$7.6 million ($8.5 million) after shareholders exercised share purchase warrants before they expired.
Share purchase warrants give the holder the option to buy extra shares at a set price before a certain date.
Nearly 13 million warrants priced at C$0.60 were exercised. The warrants were previously issued to investors as part of a placement that closed on 23 February 2023.
Q2 CEO Alicia Milne says at the end of Q2’s fiscal year on February 28, the explorer will have about $12.3 million in cash.
A winter drilling program is currently underway at the company’s Cisco Lithium Project in Québec.
Cisco spans 39,389 hectares and is located within the greater Nemaska traditional territory of the Eeyou Istchee Territory in the James Bay region.
Q2 will be exhibiting at this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada.
“Our fully funded 2025 winter drill campaign at Cisco is underway and we look forward to displaying our core and speaking with investors at a very busy PDAC next week,” Milne says.
Q2 is exhibiting in the Investors Exchange at booth number 2726 and will also be exhibiting core from the Cisco Lithium Project at the PDAC 2025 Core Shack on 4-5 March.
Milne will also be presenting during Québec Day at 10.25am ET time on 4 March.
The annual convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event. To register for PDAC 2025 click here.
Write to Angela East at Mining.com.au
Images: Q2 Metals
