Quebec Silica Resources Corp. announced a private placement for gross proceeds of up to CAD 2,575,000 on December 13, 2022. In connection with the offering, the Company will pay finder's fees and issue finder shares and finder warrants to EMD Financial Inc. well as any other registrants participating in the offering consisting of: cash finder's fees of up to 10 % of the gross proceeds of the offering finder shares in an amount equal to up to 5 % of the number of units, FT Units and Québec flow through units issued pursuant to the offering; and finder warrants in an amount equal to up to 5% of the number of units, flow through units and Québec flow through units issued pursuant to the offering, exercisable at a price of CAD 0.075 per common share for a period of two years following the closing date of the offering..

The company will issue one common share in the capital and one-half of a common share purchase warrant common share units at a price of CAD 0.05 per unit for a gross proceeds of CAD 575,000, national flow-through units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,000,000 and Québec flow-through units at a price of CAD 0.05 per unit for a gross proceeds of CAD 1,000,000 in the transaction. Each national flow-through unit will consist of one common share and one-half common share purchase warrant and each Québec flow-through units will consist of one common share and one-half common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.075 for a period of 24 months following the distribution date.

In connection to the transaction, the company paid a cash commission of CAD 257,500. The closing of the offering will be subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. The common shares and flow through shares issuable from the offering will have a hold period ending on the day that is four months and one day following its distribution date.

The transaction is expected to close on December 23, 2022.