Quebec Innovative Materials Corp

Canadian Securities Exchange:QIMCCanada

Montreal, Quebec--(Newsfile Corp. - May 7, 2024) - Quebec Innovative Materials Corp. (CSE: QIMC) (FSE: 7FJ) ("QI Materials", "QIMC" or the "Company"), would like to provide an update to its previously-announced (see April 29, 2024 press release) non-brokered private placement of up to 17,500,000 units (the "Units") of the Company at a price of $0.03 per Unit for gross proceeds to the Company of up to $525,000 (the "Offering"). Following the announcement, the Company received unsolicited interest from Quebec resident investors, including Mr. John Karagiannidis, the President and CEO of the Company, to participate in the private placement. Accordingly, the Board of Directors of QI Materials agreed to consider subscription offers from Mr. Karagiannidis and certain other Quebec residents to subscribe for Units in reliance upon the "accredited investor" prospectus exemption set out in Quebec Regulation 45-106 respecting Prospectus Exemptions.

Montreal, Quebec--(Newsfile Corp. - April 29, 2024) - Quebec Innovative Materials Corp. (CSE: QIMC) (FSE: 7FJ) ("QI Materials", "QIMC" or the "Company"), announces that it is undertaking a non-brokered private placement of up to 17,500,000 units (the "Units") of the Company at a price of C$0.03 per Unit (the "Offering Price") for gross proceeds to the Company of up to C$525,000 (the "Offering"). The Offering has been structured to take advantage of the listed issuer financing exemption whereby securities of the Company issued pursuant to the Offering will be freely tradeable equity securities not subject to any hold period (see below).