GoldQuest Announces Upsizing of Private Placement

About this update from Goldquest Mining Corp.

[{"type":"text","content":"GoldQuest Announces Upsizing of Private PlacementVancouver, British Columbia--(Newsfile Corp. - December 18, 2025) - GoldQuest Mining Corp. (TSXV: GQC) (OTCQX: GDQMF) (\"GoldQuest\" or the \"Company\") is pleased to announce that due to significant interest, the Company intends to increase the size of its previously announced non-brokered private placement (the \"Private Placement\"). The Private Placement will now be comprised of an aggregate of up to 34,710,743 units of the Company (the \"Units\") at a price of $1.21 per Unit, for aggregate gross proceeds of up to approximately $42 million. Each Unit will be comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable to purchase one Common Share at an exercise price of $1.80 per Common Share for a period of 24 months from the applicable closing of the Private Placement. Luis Santana, CEO of GoldQuest Mining Corp., commented: \"We are encouraged by the continued support and trust demonstrated by large Dominican institutional investors, whose long-term participation reflects confidence in the quality of the Romero project and in our disciplined approach to advancing it. The strong demand for this financing reinforces institutional acceptance of our strategy and provides additional confidence as we move forward. Importantly, the convergence of Dominican institutional investors and International capital markets participants creates a uniquely strong and well-aligned shareholder base, which we view as critical as we advance permitting, fund development, and move Romero toward construction.\"The Private Placement is expected to close in tranches on or before January 9, 2026, subject to the completion of formal documentation and receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange (the \"TSXV\"). The Company expects to use the proceeds of the Private Placement for early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes.It is anticipated that certain insiders of GoldQuest will subscribe for Units in the Private Placement. The issuance of Units will be considered related party transactions within the meaning of TSXV Policy 5.9 and Multilateral Instru...

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