Business
Quimbaya Gold Announces C$1 Million Private Placement Financing
VANCOUVER, BC, July 7, 2023 /CNW/ - Quimbaya Gold Inc. (CSE: QIM) ("Quimbaya" or the "Company") is pleased to announce that it intends to complete a non-brokere
About this update from Quimbaya Gold Inc
[{"type":"text","content":" VANCOUVER, BC, July 7, 2023 /CNW/ - Quimbaya Gold Inc. (CSE: QIM) (\"Quimbaya\" or the \"Company\") is pleased to announce that it intends to complete a non-brokered private placement offering of common shares of the Company (\"Common Shares\") at a price of $0.45 per Common Share for aggregate gross proceeds of up to $1,000,000 (the \"Offering\"). Depending on market conditions and the receipt of regulatory approvals, the Company reserves the right to increase the maximum aggregate gross proceeds under the Offering to an amount greater than $1,000,000. The completion of the Offering will be subject to Canadian Securities Exchange acceptance. Closing of the Offering is expected to occur on or about July 17, 2023, subject to satisfaction of all closing conditions. The Common Shares will have a hold period of four months and one day from the date of issue. The net proceeds of the Offering will be used by the Company for exploration and working capital. The Company may pay a finder's fee (\"Finder's Fee\") in connection with the issue and sale of any or all of the Common Shares under the Offering. The Finder's Fee shall consist of a payment of no more than 8% of the gross proceeds of the Offering in relation to subscribers introduced by any particular finder. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the \"U.S. Securities Act\"), or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to any U.S. person absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. \"United States\" and \"U.S. person\" have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act. About Quimbaya Quimbaya aims to consolidate gold reserves through exploration and acquisition of mining properties in Antioquia, Colombia. Managed by an experienced team...