Mr. John Karagiannidis reports

QI MATERIALS ANNOUNCES LISTED ISSUER FINANCING EXEMPTION (LIFE) NON-BROKERED PRIVATE PLACEMENT OF UNITS

Quebec Innovative Materials Corp. (QI Materials) is undertaking a non-brokered private placement of up to 17.5 million units of the company at a price of three cents per unit for gross proceeds to the company of up to $525,000. 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).

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 24 months following the closing date of the offering at an exercise price of five cents per warrant share.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the offering is being made to purchasers resident in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities offered under the exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

In connection with the offering, the company may pay finders' fees and issue finders' shares and finders' warrants to EMD Financial Inc., as well as any other registrants participating in the offering, consisting of: (i) cash finders' fees of up to 7 per cent of the gross proceeds of the offering; (ii) finders' shares in an amount equal to up to 7 per cent of the number of units issued pursuant to the offering; and (iii) finders' warrants in an amount equal to up to 7 per cent of the number of units issued pursuant to the offering, exercisable at a price of five cents per common share for a period of 24 months following the closing date of the offering. John Karagiannidis, a director and chief executive officer of the company is also a registered dealing representative of EMD Financial. Mr. Karagiannidis is not an influential securityholder (as defined in NI 33-105, Underwriting Conflicts) of the company, and he is not an officer, director or influential securityholder of EMD Financial. The company is not a related issuer or connected issuer of, or to, EMD Financial, as such terms are defined in NI 33-105, Underwriting Conflicts. In addition, there is no debtor/creditor relationship between the company and EMD Financial. EMD Financial will not receive any finders' fees from the participation, if any, of officers, directors or any related parties of the company in the proposed offering. The terms of the offering were determined by resolution of the independent directors of the company.

The company plans to use the net proceeds of this financing for exploration and evaluation of the company's existing hydrogen and helium projects, and for general working capital. "The Province of Quebec as well as strategic shareholders' embrace of hydrogen represents a transformative opportunity, unlocking clean energy solutions and driving sustainable development for generations to come. We are very fortunate to be able to contribute to that alongside our partner INRS," stated John Karagiannidis, the company's chief executive officer.

The offering is scheduled to close on or about May 31, 2024, and completion of the offering is subject to certain conditions, including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

About Quebec Innovative Materials Corp.

Quebec Innovative (previously Quebec Silica Resources Corp.) is a mineral exploration and development company with a diversified portfolio of natural resource assets, including high-grade silica, hydrogen and helium properties. The company is working toward becoming a sustainable supplier of resources that are essential in advanced batteries and the electrification of the new green economy.

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