Q-Gold Resources Ltd. announced a non brokered private placement of up to 9,090,910 flow through units at a price of CAD 0.11 per unit for gross proceeds of up to CAD 1,000,000 on December 30, 2021. Each flow through unit will consist of one flow through common share and one-half non flow through share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at an exercise price of CAD 0.20 for a period of 24 months following the closing date.

The securities to be issued in the transaction will be subject to a statutory hold period. The company may pay finder's fees with respect to the transaction. The transaction is expected to close on or before January 1, 2022 and is subject to customary closing conditions, including approval from the TSX Venture Exchange.