Business
GoldQuest Announces Proposed Private Placement of up to C$3 Million
VANCOUVER, BC--(Marketwired - March 15, 2016) - GoldQuest Mining Corp., (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is plea
About this update from Goldquest Mining Corp.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - March 15, 2016) - GoldQuest Mining Corp., (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to announce its intention to complete a non-brokered private placement (the \"Private Placement\") of up to 15 million common shares of the Company (each, a \"Share\") at C$0.20 per Share (the \"Share Price\") for gross aggregate proceeds of up to C$3 million. The net proceeds of the Private Placement will be used by GoldQuest for general working capital purposes. There are currently 177,682,225 common shares of the Company issued and outstanding without giving effect to the Private Placement. Following completion of the Private Placement, assuming it is fully subscribed, the Company will have a total of 192,682,225 common shares issued and outstanding. The Private Placement is expected to close on or before April 5, 2016, subject to receipt of the necessary approvals, including approval of the TSX Venture Exchange. The Company has agreed to pay a finder's fee of 7% of the aggregate proceeds raised from subscriptions arranged by Cormark Securities Inc. Any securities issued pursuant to the Private Placement will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the Private Placement. The securities to be issued under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of GoldQuest's securities in the United States. About GoldQuest GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic. GoldQuest is traded on the TSX-V under the symbol GQC and in Frankfurt/Berlin with symbol M1W. GoldQuest has moved its Toronto office to 133 Richmond Street West - Suite 501, Toronto, Ontario M5H 2L3, which has reduced corporate general administration expenditures. Additional information ca...