Quest Rare Minerals Ltd. (TSX:QRM) announced a private placement of up to 4,615,384 units at a price of CAD 0.13 per unit for gross proceeds of CAD 600,000 with new investor Investissement Quebec, Investment Arm on April 21, 2015. Each unit consists of one common share and one share purchase warrant. As required by the Toronto Stock Exchange and as described in the company management proxy circular dated March 11, 2015.

Closing of the transaction is anticipated to occur on or about April 30, 2015.