The net proceeds from the Private Placement will be used for general exploration and working capital. In connection with the Private Placement, the Corporation may pay finder's fees to eligible finders. All securities issued in connection with the Private Placement will be subject to a statutory hold period of 4 months and a day from their issuance.
Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the Canadian Securities Exchange (the "CSE").
2024 Objectives
In 2024, QNB intends to focus on advancing the Kingsville Salt deposit, in
- Review exploration data & analyze the potential of developing salt caverns;
- Develop a 3D geological model and calculate the amount of product that can be stored in the salt caverns at the Corporation's flagship Kingsville Salt Deposit property in
Nova Scotia, Canada ; - Conduct a high-level market review of the CO2, hydrogen, and compressed air energy storage markets;
- Initiate drilling campaign to confirm historical resource and complete a NI 43-101 Resource Estimate;
- Initiate Quarry Permitting process with objective of launching Production & Sales in near term; and
- Complete PEA on mining operations scale-up.
Near Term Focus
Negotiate:
- Quarry Operating Contract;
- Product and side-product contracts and offtake agreements;
- Identify strategic partners;
- Establish logistics and shipment routes; and
- Acquire additional world class salt deposits with a focus on
Québec opportunities.
The Kingsville Salt Deposit is accessed by traveling the
The Strait of
The Corporation extends its best wishes to all QNB stakeholders for 2024.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "
The statements in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE
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