Business
GoldQuest Announces Up to C $15 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2025) - GoldQuest Mining Corp. (TSXV: GQC)...
About this update from Goldquest Mining Corp.
[{"type":"text","content":"GoldQuest Announces Up to C $15 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 14, 2025) - GoldQuest Mining Corp. (TSXV: GQC) (\"GoldQuest\" or the \"Company\") is pleased to announce that it intends to offer, on a non-brokered private placement basis, up to 30 million common shares in the capital of the Company (the \"Common Shares\") at a price of $0.50 per Common Share, for aggregate gross proceeds to the Company of up to $15 million (the \"Private Placement\"). There is no minimum offering amount.It is anticipated that the Private Placement will close on or before May 30th, 2025, and the Private Placement is subject to the completion of formal documentation and receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the \"TSXV\"). The Company expects to use the proceeds of the Private Placement for:Completion of the Environmental and Social Impact Assessment (ESIA)Finalization of the Bankable Feasibility Study (BFS)Mineral Exploration at the Tireo BeltGeneral Corporate PurposesIt is anticipated that certain insiders of GoldQuest will subscribe for Common Shares in the Private Placement. The issuances of Common Shares will be considered related party transactions within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements contained in Sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 in respect of such insider participation.Common Shares issued under the Private Placement will be subject to a four-month statutory hold period, in accordance with applicable Canadian securities laws.About GoldQuest Mining Corp.GoldQuest Mining Corp. is a Canadian-based mineral exploration and development company focused on the Dominican Republic. The Company's flagship asset is the Romero gold-copper project, located within the highly prospective Tireo Formation. In addition to advancing Romero, GoldQuest continues to explore the broader Tireo Belt for new discoveries. The Company is listed on the TSX Venture Exchange under the symbol \"GQC\".Forward-Looking Statements:Statements contained in this news release that are not historical facts are forward‐looking infor...