Business · Companies · 5 hrs ago
QGold Pays First Quartz Mountain Project Milestone in Shares
Q-Gold Resources issued shares to Alamos Gold to meet its first annual milestone payment for the Quartz Mountain Gold Project.
The payment is part of an agreement tied to QGold’s acquisition of the project from Alamos.
Alamos chose to receive the payment in QGold common shares rather than cash.
QGold issued 22,859,861 shares at a deemed price of C$0.1937 each.
The shares had an aggregate value of about C$4.43 million (US$3.15 million).
The payment fulfils the first annual milestone obligation described in the agreement; no further steps are specified.
Q-Gold Resources Ltd. said it completed its first annual milestone payment to Alamos Gold Inc. for the Quartz Mountain Gold Project.
The payment was made by issuing 22,859,861 Q-Gold common shares.
The shares were valued at C$0.1937 each, for an aggregate value of about C$4,427,955 (US$3,150,000).
The payment was made under a share exchange agreement dated March 31, 2025, as amended.
Alamos elected to receive the payment in shares.
- Who
- Q-Gold Resources Ltd. made the payment to Alamos Gold Inc.
- What
- Q-Gold completed its first annual milestone payment by issuing 22,859,861 common shares.
- When
- Q-Gold announced the payment on Oct. 27, 2026.
- Where
- Not stated.
- Why
- The payment was required under the share exchange agreement relating to the acquisition of the Quartz Mountain Gold Project.
This story does not have two clearly opposing sides.
Q-Gold and Alamos’ share exchange agreement was dated.
Q-Gold announced it had satisfied its first annual milestone payment by issuing shares to Alamos.
- Recipient
- Alamos Gold Inc.
- Project
- Quartz Mountain Gold Project
- Shares issued
- 22,859,861 common shares
- Deemed price
- C$0.1937 per share
- Aggregate value
- Approximately C$4,427,955 (US$3,150,000)