Questcorp Mining Inc. Completes Flow-Through Financing
Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) has announced the successful closing of its non-brokered private placement, issuing 6,023,077 flow-through units (FT Units) at a price of $0.13 per FT Unit, generating gross proceeds of up to $783,000. Each FT Unit consists of one common share and one-half-of-one share purchase warrant, with the warrant allowing the holder to purchase an additional common share at $0.20 until December 17, 2027.
The company plans to utilize the proceeds from this offering to conduct exploration activities at its North Island Copper Property, located on Vancouver Island, British Columbia. This property is a key asset for Questcorp, with the company holding an option to acquire a 100% interest in the mineral claims totaling 1,168.09 hectares, subject to a royalty obligation.
Terms of the Offering
In connection with the closing, Questcorp paid $53,900 and issued 414,615 share purchase warrants to arms-length parties that assisted in introducing subscribers to the offering. These finders’ warrants are exercisable until December 17, 2027, with 134,615 warrants having an exercise price of $0.13 and 280,000 warrants having an exercise price of $0.20. All securities issued in this offering are subject to resale restrictions until April 18, 2026, in accordance with applicable securities laws.
Questcorp Mining Inc. is focused on the acquisition and exploration of mineral properties in North America, aiming to develop economic precious and base metals properties. In addition to the North Island Copper Property, the company also holds an option to acquire a 100% interest in the La Union Project, located in Sonora, Mexico, subject to a royalty obligation.
Forward-Looking Statements
The company’s news release includes forward-looking statements, which are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ from those expressed or implied. These factors include general business, economic, competitive, political, and social uncertainties, as well as uncertain capital markets and the delay or failure to receive board or regulatory approvals.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278391
Smart Tip for Readers
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