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Great Quest to Launch Private Placement of 1.7 Mln Units

Great Quest Metals Ltd. (GQ.V) intends to complete a non-brokered private placement of up to 1.7 million units at a price of $0.60 per unit for gross proceeds of around $1 million.

Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will be exercisable for one common share at a price of $0.80 per share for a period of three years from the date of issue, subject to the Company's right to accelerate the expiry of the warrants if the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange is equal to, or exceeds $1.20 for a period of 20 consecutive trading days during the term of the warrant.

GQ was up 5% to 79 cents, with 52-week range of $0.425 - $1.55.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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