Questcorp Mining Announces Closing of Oversubscribed Private Placement Financing

Questcorp Mining Announces Closing of Oversubscribed Private Placement Financing

Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce that it has closed its non-brokered private offering (the "Offering") of 45,832,539 units (each, a "Unit") at a price of $0.06 per Unit for gross proceeds of $2,749,952. Each Unit consists of one common share of the Company and one common share purchase warrant entitling the holder to acquire a further common share of the Company at a price of $0.10 until March 19, 2027 (each, a "Warrant").

Certain insiders of the Company participated in the Offering for an aggregate of 1,683,750 Units. Such participation represents a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Holders in Special Transaction ("MI 61-101"). The transaction is however exempt from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value of the Units acquired by the insiders in the Offering did not exceed 25% of the Company's market capitalization.

The proceeds of the Offering will be used by the Company to complete the transaction involving the La Union Project, to continue its exploration program at the North Island Copper Property, to retire existing payables and for general working capital purposes. In connection with completion of the Offering, the Company has paid finders' fees of $181,367.39 and issued 3,022,790 Warrants to certain arms-length finders who assisted in introducing subscribers to the Company. All securities issued in connection with the Offering are subject to a statutory holder period of four-months-and-one-day until July 20, 2025.

The Company is relying on the provisions of 4.6(1)(b) of Policy 4 of the Canadian Securities Exchange to complete the Offering as it involves the issuance of more than 100% of the outstanding share capital of the Company. In accordance with Policy 4, the Company confirms receipt of shareholder approval for the Offering by way of written-consent of the majority of the outstanding share capital of the Company.

Grant of Incentive Awards

The Company also announces that pursuant to closing of the Offering, it has granted 3,000,000 incentive stock options (the "Options") and 2,750,000 restricted share units (the "RSUs") to certain directors, officers and consultants of the Company in accordance with its omnibus incentive plan (the "Plan"). The Options shall vest immediately and are exercisable at a price of $0.15 until March 19, 2030. The RSUs shall vest and be settled in common shares of the Company upon receipt of shareholder approval for the Plan. In the event shareholder approval for the Plan is not received by December 31, 2025, the RSUs will be automatically cancelled without any further right or entitlement.

About Questcorp Mining Inc.

Questcorp is engaged in the business of the acquisition and exploration of mineral properties in Canada. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company's secondary objective is to locate and develop economic precious and base metals properties of merit.

Contact Information

Questcorp Mining Corp.
Saf Dhillon, President & Chief Executive Officer
Email: saf@questcorpmining.ca
Telephone: (604) 484-3031

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the intended use of proceeds from the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245219

News Provided by Newsfile via QuoteMedia

QQQ:CC
Questcorp Mining

Questcorp Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Questcorp Mining (CSE:QQQ)

Questcorp Mining

Keep reading...Show less

Gold and copper exploration in historic, past-producing regions in Canada and Mexico

Questcorp Mining Completes 25 Percent of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Questcorp Mining Completes 25 Percent of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce they have completed 25% of the planned drilling program on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).

Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Questcorp Mining and Riverside Resources Announce Commencement of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Questcorp Mining and Riverside Resources Announce Commencement of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce that drilling has commenced on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).

Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Questcorp Mining Taps National Inflation Association for Marketing & Investor Outreach Campaign

Questcorp Mining Taps National Inflation Association for Marketing & Investor Outreach Campaign

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) ("Questcorp" or the "Company") is excited to announce a strategic engagement with GRA Enterprises LLC, operating as the National Inflation Association ("NIA"), to deliver a dynamic marketing and communications campaign aimed at boosting investor awareness and market visibility.

Under the terms of the agreement (the "NIA Agreement"), which commences July 28, 2025, Questcorp will pay a one-time fee of US$30,000 for a three-month initial campaign, with the option for renewal. The NIA will leverage its expansive distribution channels-including targeted email lists, website features, and blog content-to highlight Questcorp's compelling growth story and project developments.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to further update shareholders on the on-going surface exploration in preparation for drilling at the La Union Gold-Silver Project in Sonora, Mexico. Questcorp has an option to earn a 100% interest from Riverside Resources Inc. ("Riverside") in the 2,520 ha (25 km sq) property by making a series of cash payments and share issuance and incurring exploration expenditures.

Questcorp President & CEO, Saf Dhillon stated "The Riverside technical team continues to de-risk the upcoming 1500 metre mid-August maiden drill program through detailed surface mapping and sampling. The discovery of multiple stacked thrust faults in the main mineralized area has significantly enhanced the potential of the project. Management continues to be impressed with the excellent work and progress being made with prudent management of exploration dollars".

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to update shareholders on the on-going surface exploration in preparation for drilling at the La Union Gold-Silver Project in Sonora, Mexico. Questcorp has an Option earn a 100% interest from Riverside Resources Inc. in the 2,520 ha (25 km sq) property by making a series of cash payments and share issuance and completing a series of exploration expenditures.

Questcorp President & CEO, Saf Dhillon, stated: "We are pleased with the progress Riverside has made as we complete the preliminary exploration steps, in finalizing our drill targets for the upcoming maiden drill program at La Union. The decades of in country exploration experience that John-Mark and his Riverside team diligently bring to focus at the La Union project is very evident as they continue to further de-risk the up-coming 1,500 metre drill program."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Issue of Shares and Cleansing Notice

Issue of Shares and Cleansing Notice

Further to its ASX announcement on 20 June 2025 and following shareholder approval received at the general meeting on 20 August 2025, Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued a total of 1,162,790 fully paid ordinary shares ("Shares") to a nominee of Non-Executive Director Raymond Shorrocks at A$0.086 each to raise A$100,000 (before costs).

Cygnus issued the Shares without disclosure under section 708A(5) of the Corporations Act 2001 (Cth) ("Act"). With reference to those Shares issued, in accordance with section 708A(6) of the Act, the Company gives notice under paragraph 708A(5)(e) that:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
FPX Nickel Completes Successful Drilling Programs at Baptiste Nickel Project in Central British Columbia

FPX Nickel Completes Successful Drilling Programs at Baptiste Nickel Project in Central British Columbia

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the completion of drilling programs at the Baptiste Nickel Project (" Baptiste " or " the Project ") in Central British Columbia . The previously announced programs (see FPX's July 7, 2025 news release) mark the most active campaign at Decar since 2021, with a focus on targeting the first phase completion of geomechanical, hydrogeological, and condemnation holes to complement the Project dataset for the feasibility study and the Company's planned entry into the environmental assessment (" EA ") process in the fourth quarter of 2025.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Questcorp Mining

Questcorp Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×