Goldquest arranges $30-million private placement

Executive Summary

• Goldquest Mining Corp. announced a non-brokered private placement of up to 24,793,399 units at $1.21 per unit, targeting aggregate gross proceeds of approximately C$30 million.
• The financing includes strong participation from new and existing Dominican institutional investors, aimed at strengthening the balance sheet and funding exploration and early development of the Romero project in the Dominican Republic.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $1.80 per share for 24 months.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 24,793,399 units.
• Price Per Unit: $1.21 CAD.
• Gross Proceeds: Up to approximately $30 million CAD.
• Minimum Offering: None.
• Composition of Units: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $1.80 per common share.
  • Duration: 24 months from the closing date.
  • Ratio: One-half warrant per unit (effectively one warrant for every two units).
• Use of Proceeds: Early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes.
• Closing Date: Expected on or before December 19, 2025, subject to formal documentation and regulatory approvals (including TSX Venture Exchange).
• Hold Period: Four-month statutory hold period for common shares and warrants under Canadian securities laws.
• Investor Profile: Participation includes a new institutional investor and continued support from established Dominican institutional investors, providing local market knowledge and long-term capital alignment.

Notable Quotes

• "This financing strengthens our balance sheet and provides the company with the flexibility to advance exploration and early development activities in the Dominican Republic. We are particularly encouraged by the participation of a new institutional investor, alongside continued support from established Dominican institutional investors. Their involvement reflects long-term alignment with Goldquest's strategy and confidence in the quality of our assets and our disciplined approach to advancing the project." — Luis Santana, CEO
• "The participation of one of the largest Dominican institutional investors, together with continued support from existing local institutional investors, represents an important strategic element of this financing. These investors have a long-standing presence in the Dominican financial market and bring long-term capital, local market knowledge, and a strong understanding of the Dominican Republic's regulatory and operating environment." — Luis Santana, CEO