Quartz Mountain Resources Secures $4.2 Million in Equity Financing

Quartz Mountain Resources Ltd. has successfully closed a $4.2 million equity financing through the issuance of 10,000,000 units. Each unit, priced at $0.42, consists of one common share and a warrant allowing purchase of additional shares at $0.60 within a year. The shares were sold via private placement and are subject to a four-month hold in Canada.

A portion of the units, specifically 1,700,000, were allocated to Chairman Robert Dickinson and associates. The remaining 8,300,000 units were purchased by investors, including The Sutton Group Inc.

The capital raised will fund drilling at the Maestro gold-silver-copper project and other company activities. Chairman Dickinson emphasized the promising results from initial drillings at the Maestro site, noting significant gold and silver deposits.