Quantum Battery Metals Corp. ("Quantum" or the "Company"), is pleased to announce an update regarding the acquisition of 1500643 B.C. Ltd. ("Calico Jack"), as previously disclosed in the Company's news release on September 9, 2024.
The Company signed a non-binding Letter of Intent on September 9, 2024, with 1500643 B.C. Ltd. The transaction will be conducted as an arm's-length agreement, and no finder's fee will be paid in connection with the acquisition.
The Company has successfully negotiated terms to proceed with a share exchange agreement. As part of the proposed transaction, Quantum will issue 6,000,000 shares at a price of $0.31 per share, resulting in a total consideration of $1,860,000.
Quantum is now working diligently towards closing the transaction, pending final review and approval of the acquisition target. This acquisition aligns with Quantum's strategic growth initiatives and further strengthens its position within the battery metals sector.