Quest Rare Minerals completes special warrant financing

On February 22, 2017, Quest Rare Minerals Ltd. (“Quest”), a company listed on the Toronto Stock Exchange, completed a private placement by issuing an aggregate of 8,100,000 special warrants to “accredited investors” in Ontario, British Columbia and outside of Canada at a price of $0.20 per special warrant, for gross proceeds to Quest of $1,620,000. Quest subsequently obtained a receipt for a final short form prospectus qualifying for distribution the common shares and common share purchase warrants of Quest issuable upon the exercise of the 8,100,000 special warrants. Each common share purchase warrant entitles its holder to acquire one additional common share of Quest at a price of $0.275 until February 22, 2020. Quest will use the net proceeds from the private placement for its full-scale pilot plant project and process optimization (part of Quest’s Strange Lake, Québec project) and for working capital and general corporate purposes. Quest is a Canadian-based company focused on becoming an integrated producer of rare earth metal oxides and a significant participant in the rare earth elements (REE) material supply chain. Fasken Martineau, with a team comprised of Neil Wiener and Sébastien Bellefleur, acted as legal counsel to Quest in connection with the special warrant financing.