QC Copper Closes First Tranche of Non-Brokered Private Placement with Quebec Based Funds

QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ('QC Copper' or the 'Company') is pleased to announce the closing of a first tranche of a non-brokered private placement (the 'Offering').

Under the first tranche, the company sold an aggregate of 9,142,428 common shares (the 'Offered Shares') at a price of C$0.14 per Offered Share for aggregate gross proceeds of C$1,279,939.92. The net proceeds from the Offering will be used for the exploration and development of QC Copper's Opemiska Copper Project in Chapais, Quebec and for general working capital purposes. The Company plans to close a second and final tranche in the near term.

All securities issued and sold pursuant to the Offering were issued pursuant to exemptions from prospectus requirements and will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws. No new insiders were created as a result of the Offering. Closing of the Offering is subject to all necessary regulatory approvals including final approval from the TSX Venture Exchange.

The Offered Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act') or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Opemiska Copper Complex

The Opemiska Copper Complex is located adjacent to Chapais, Quebec, within the Chibougamau district. Opemiska is also within the Abitibi Greenstone belt and within the boundaries of the Province of Quebec's Plan Nord, which promotes and funds infrastructure and development of natural resource projects. The Opemiska property covers 12,782 hectares and covers the past producing Springer, Perry, Robitaille and Cooke mines, previously-owned and operated by Falconbridge between 1953-1991. The project hosts excellent on-site infrastructure, including a power station and direct access to Highway 113 and the Canadian National Railway.

Contact:

Tel: [phone]

Email: [e-mail]

(C) 2023 Electronic News Publishing, source ENP Newswire