Québec Nickel Announces Closing of Existing Shareholder Financing

Vancouver, British Columbia--(Newsfile Corp. - November 13, 2024) - Québec Nickel Corp. (CSE: QNI) (FSE: 7lB) (OTCQB: QNICF) ("QNI" or the "Company") is pleased to announce that it has closed its previously announced private placement offering (the "Offering") by issuing 2,000,000 units (the "Units") of the Company at a price of $0.125 per Unit for aggregate gross proceeds of $250,000.

Each Unit consisted of one common share (the "Share") and one-half of one share purchase warrant (each whole warrant, a "Warrant") exercisable for a period of two years. Each whole Warrant is exercisable into one Share at a price of $0.225 per Share.

The Units were offered to existing shareholders under British Columbia Instrument 45-534 - Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders, and equivalent provisions of applicable securities laws in other jurisdictions of Canada and be subject to a statutory hold period of four months and one day from the date of issuance.

No finder's fees were payable in connection with the Offering. No directors or officers participated in the Offering.

The proposed net proceeds received from the Offering are intended to be used by the Company for general working capital purposes.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Québec Nickel Corp.Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing critical metals (Ni-Cu-Co-PGE) projects in Québec, Canada. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229884