Quebec Innovative Materials Corp. (CNSX:QIMC) entered into Acquisition Agreement to acquire River Valley Silica Property for CAD 0.06 million on September 1, 2023. Under the terms of the acquisition, Quebec Innovative Materials Corp. will issue 2 million common shares to an unknown arms length Vendor, Additionally, the Vendor will be granted a royalty of CAD 2.50 per tonne on gross revenues from the sale of raw quartz or silica from the Property. The Consideration Shares will be subject to a hold period of four months and one-day following issuance. Quebec Innovative Materials Corp. also announced the appointment of John Karagiannidis as Chairman of the Board and the grant of an aggregate of 5,500,000 stock options at an exercise price of CAD 0.05, exercisable for a period of 2 years.

Quebec Innovative Materials Corp. (CNSX:QIMC) completed the acquisition of River Valley Silica Property on September 7, 2023.