Goldquest increases private placement to $42-million

Executive Summary

• Goldquest Mining Corp. is upsizing its previously announced non-brokered private placement to raise up to approximately $42 million.
• The offering consists of up to 34,710,743 units priced at $1.21 per unit, driven by significant interest from Dominican institutional investors and international capital markets participants.
• Proceeds will be used for early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement upsized to an aggregate of up to 34,710,743 units.
• Price: $1.21 per unit.
• Gross Proceeds: Up to approximately $42 million.
• Unit Composition: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable to purchase one common share at an exercise price of $1.80 per share.
• Warrant Expiry: 24 months from the applicable closing of the private placement.
• Closing Timeline: Expected to close in tranches on or before January 9, 2026, subject to formal documentation and regulatory approvals (including TSX Venture Exchange).
• Use of Proceeds: Early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes.
• Insider Participation: Certain insiders are anticipated to subscribe for units; the company intends to rely on exemptions from formal valuation and minority approval requirements under MI 61-101.
• Finder’s Fee: The company will pay a finder’s fee to eligible finders, including Paradigm Capital Inc., for services provided in connection with the placement.
• Hold Period: Common shares and warrants are subject to a four-month statutory hold period under Canadian securities laws.

Notable Quotes

• "We are encouraged by the continued support and trust demonstrated by large Dominican institutional investors, whose long-term participation reflects confidence in the quality of the Romero project and in our disciplined approach to advancing it. The strong demand for this financing reinforces institutional acceptance of our strategy and provides additional confidence as we move forward. Importantly, the convergence of Dominican institutional investors and international capital markets participants creates a uniquely strong and well-aligned shareholder base, which we view as critical as we advance permitting, fund development and move Romero toward construction." — Luis Santana, Chief Executive Officer