Q-Gold Resources Ltd. announced a non-brokered private placement of up to 20,000,000 at a price of CAD 0.05 per unit for gross proceeds of up to CAD 1,000,000 on September 2, 2022. Each unit will consist of one common share and one half of a share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of CAD 0.07 for a period of 24 months following the closing date of the offering.

The offering is expected to close on or before October 1, 2022 and is subject to customary closing conditions, including approval from the TSX Venture exchange.