Goldquest closes $3.3M final tranche of placement

Executive Summary

• Goldquest Mining Corp. has closed the third and final tranche of its non-brokered private placement, raising approximately C$3.3 million.
• The total gross proceeds from the entire private placement (all three tranches) amount to approximately $42 million.
• Proceeds are designated for early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes.

Key Details

• Third Tranche Details:
  • Issued 2,744,542 units.
  • Price: $1.21 per unit.
  • Gross Proceeds: Approximately $3.3 million.
• Warrant Terms:
  • Each unit includes one common share and one-half of one common share purchase warrant.
  • Exercise Price: $1.80 per common share.
  • Term: 24 months from the applicable closing date.
• Total Financing Scope:
  • Total units issued across all three tranches: 34,710,743 units.
  • Total gross proceeds: Approximately $42 million.
  • First Tranche Closed: Dec. 23, 2025.
  • Second Tranche Closed: Jan. 9, 2026.
• Finders' Fees:
  • Paid $100,000.45 to Paradigm Capital Inc.
  • Paid $66,044.34 to Milenio Partners SA.
  • Both parties are arm's-length.
• Regulatory Conditions:
  • All common shares and warrants are subject to a four-month statutory hold period under Canadian securities laws.
• Use of Proceeds:
  • Early development activities at the Romero project.
  • Expansion of greenfield exploration drilling.
  • General corporate purposes.

Notable Quotes

• None provided in the text.