Quantum Numbers Corp. Receives TSX Venture Exchange Approval on Warrant Extension and Disposes of Mining Assets
MONTREAL, QUEBEC – Nov. 30, 2017 – Quantum Numbers Corp. (TSX VENTURE:QNC) (the “Corporation” or “QNC“) announces an extension to the term of 19,256,000 common share purchase warrants (the “Warrants”) originally issued on November 23, 2016. The warrants were issued as part of a private placement. The expiry date will be extended as follows:
|Number of Warrants:||19,256,000|
|Original Expiry Date of Warrants:||November 23, 2017|
|New Expiry Date of Warrants:||March 31, 2018|
|Exercise Price of Warrants:||$0.10|
|All other terms of the Warrants will remain unchanged.|
The Corporation also reports that all conditions have been fulfilled for the sale of none productive assets, that had been written down, its 50% participation in the mining project in Saguenay, St Georges.
In addition to disposing of potential liabilities related the mining industry the Company obtained:
- $5,000 representing original acquisition cost and expenses,
In order to ensure that the Company would benefit from any positive future development in the project:
- 500,000 common shares of St Georges Platinum and Base Metals Ltd;
- 1.5% royalty on the Net Smelter Return on the portion of the claims sold;
- The purchaser kept the right to buy back 2/3 of the royalty for $1,500,000.
In order to be able to monetize none productive asset and stay focused on our main objective the company is also looking in disposing of its other none productive asset.
About Quantum Numbers Corp.
QNC is an innovative developer of cryptographic solutions based on Quantum Random Number Generator (QRNG). The Corporation’s mission is to address the growing demand for affordable hardware security for connected devices. Visit our website at www.quantumnumberscorp.com
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Quantum Numbers Corp.
Chief Financial Officer