Quartz Mountain Resources Ltd. announced a private placement to issue 1,538,889 Flow-through units at an issue price of CAD 0.18 per Unit for proceeds of CAD 277,000.02 on October 20, 2023. Each Unit consists of one Flow-through common share and one Flow-through common share warrant. Each Warrant allows the holder to purchase one flow-through common share at a price of CAD 0.18 for a period five years from completion of the placement.

The transaction will include participation from new investor Robert Dickinson is subscribing for 1,400,000 of the Flow-through Units. Upon completion of the placement Robert Dickinson will own 25,468,184 common shares (54.9%) of the 46,403,030 shares then outstanding and together with his associates, a total of 32,196,730 (69.4%) of issued shares.