Q2 Metals (TSX-V:QTWO) is conducting a private placement to raise C$60 million ($61.51 million), to develop the Cisco Lithium Project in Québec, Canada.
Under the bought-deal private placement with Canaccord Genuity, 16.32 million shares will be issued at C$2.45 per share — raising around C$40 million.
A further 5.55 million shares — qualified as flow-through shares — will be issued at C$3.60, raising an additional C$20 million.
The placement is expected to close on or about 26 May 2026.
As previously reported, Q2 Metals has delivered a maiden resource estimate for the project which defines a pit constrained 270 million tonnes @ 1.36% lithium oxide in the inferred category for a total of 9.1 million tonnes of contained lithium carbonate equivalent (LCE).
An additional underground constrained resource was also established, containing 24 million tonnes @ 1.34% lithium oxide for 800,000 tonnes of contained LCE.
The Cisco Project comprises 801 contiguous mineral claims over 41,253 hectares within the greater Nemaska Community lands of the Eeyou Istchee James Bay region.
Q2 Metals is a Canadian mineral explorer focused on lithium discoveries.
Write to Aaliyah Rogan at Mining.com.au
Images: Q2 Metals
