Quartz Mountain Announces $500,000 Private Placement
VANCOUVER, Dec. 30, 2019 /PRNewswire/ - Quartz Mountain Resources Ltd. ("Quartz Mountain" or the "Company") (TSX-V: QZM; OTCBB: QZMRF) announces that it has arranged a private placement of 4,545,455 units ('Units") at a price of $0.11 per Unit with insiders of the Company for proceeds of approximately $500,000.
- VANCOUVER, Dec. 30, 2019 /PRNewswire/ - Quartz Mountain Resources Ltd. ("Quartz Mountain" or the "Company") (TSX-V: QZM; OTCBB: QZMRF) announces that it has arranged a private placement of 4,545,455 units ('Units") at a price of $0.11 per Unit with insiders of the Company for proceeds of approximately $500,000.
- Each Unit consists of one common share and one warrant ("Warrant") of the Company.
- Each Warrant allows the holder to purchase one flow-through common share at a price of $0.15 for a period five (5) years.
- The private placement will result in Robert Dickinson holding a control position of approximately 43% (60%, if warrants exercised) of the Company.