Questcorp Mining revises private placement

Executive Summary

• Questcorp Mining Inc. revised its non‑brokered private placement, offering up to 7.5 million AI units at $0.20 each and up to 11,111,112 LIFE units at $0.18 each, targeting gross proceeds of approximately $3.5 million.
• The AI units include common shares plus half a share‑purchase warrant exercisable at $0.30; the LIFE units include similar warrants exercisable at $0.24.
• Proceeds are earmarked for continued exploration and drilling at the La Union gold‑silver project, upcoming work at the North Island copper property, and general working capital.

Key Details

• AI Units: Up to 7.5 million units @ $0.20 per unit → max gross proceeds of $1.5 million.
• LIFE Units: Up to 11,111,112 units @ $0.18 per unit → max gross proceeds of $2.0 million.
• AI Unit Composition: 1 common share + ½ share‑purchase warrant; warrant price $0.30, exercisable for 24 months, accelerated expiry if share price ≥ $0.50 for 10 consecutive trading days.
• LIFE Unit Composition: 1 common share + ½ share‑purchase warrant; warrant price $0.24, exercisable for 24 months.
• Use of Proceeds: Advancement of exploration and drill work at La Union (Mexico), exploration at North Island copper property (British Columbia), and general working capital.
• Investor Participation: United Kingdom‑based institutional investor Sorbie Bornholm LP expected to participate in a portion of the offering.
• Regulatory Framework: AI units offered under accredited investor exemption (NI 45‑106 Section 2.3); LIFE units offered under listed issuer financing exemption (NI 45‑106 Part 5A).
• Resale Restrictions: AI securities subject to a four‑month‑plus‑one‑day hold period; LIFE securities have no resale restriction.
• Finder’s Fees: Company will pay fees to eligible third parties introducing subscribers.
• Closing Conditions: Completion pending regulatory approvals.

Notable Quotes

(No direct quotes were provided in the release.)