en.Wedoany.com Reported - Canadian mineral exploration company Q2 Metals has announced a private placement financing, aiming to raise C$60 million (approximately US$61.51 million) to develop its Cisco lithium project located in Quebec, Canada. The company has entered into a bought deal agreement with Canaccord Genuity, planning to issue 16.32 million shares at a price of C$2.45 per share to raise approximately C$40 million; concurrently, it will issue 5.55 million flow-through shares at a price of C$3.60 per share to raise an additional C$20 million. This private placement is expected to close on or about May 26, 2026.

Q2 Metals recently submitted the initial resource estimate for the Cisco lithium project. Data indicates that, constrained within an open-pit shell, the project hosts an inferred resource of 270 million tonnes grading 1.36% lithium oxide, equivalent to 9.1 million tonnes of lithium carbonate equivalent (LCE). Additionally, the underground-constrained resource contains 24 million tonnes grading 1.34% lithium oxide, corresponding to 0.8 million tonnes of LCE.

The Cisco lithium project comprises 801 contiguous mineral claims covering 41,253 hectares, located within the Nemaska community lands in the Eeyou Istchee James Bay region. Q2 Metals is a Canadian exploration company focused on lithium discovery, and this financing will help advance the subsequent development of the project.

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