Quebec Precious Metals to Issue Shares for Services and Deferred Share Units

Montreal, QC / ACCESSWIRE / August 9, 2024 - Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM" or the "Corporation") announces the issuance of 221,165 common shares in payment for services rendered by three current directors. The total amount is $19,462.52, as per prior agreements. This transaction is for services during the second quarter of the financial year ending January 31, 2025.

QPM believes that issuing shares to settle these services will help preserve cash. The shares will be issued at a deemed price of $0.088 per share and are subject to a four-month hold period per TSX Venture Exchange rules.

This share issuance is a "related party transaction" under Multilateral Instrument 61-101, but it is exempt from formal valuation and minority shareholder approval requirements because QPM's securities are not listed on certain specified exchanges. The value of this transaction does not exceed 25% of QPM's market capitalization.

Additionally, QPM will issue 107,955 deferred stock units to the CEO, representing 20% of salary compensation for the second quarter of 2025. These units will vest after one year and may be paid out in shares or cash upon termination of employment, per company policies.