Quimbaya increases bought deal to $12.53-million

Executive Summary

• Quimbaya Gold Inc. has upsized its previously announced bought deal private placement offering to $12.53 million in aggregate gross proceeds due to strong investor demand.
• The company entered into an amended agreement with Stifel Canada as sole underwriter to issue 17.9 million LIFE units at 70 cents per unit.
• The offering includes an over-allotment option allowing the underwriter to purchase up to an additional 15% of units for up to $1,879,500 in additional gross proceeds.

Key Details

• Transaction Structure: Bought deal private placement pursuant to the listed issuer financing exemption under National Instrument 45-106.
• Underwriter: Stifel Canada (sole underwriter and bookrunner).
• Units Issued: 17.9 million LIFE units.
• Price: 70 cents per LIFE unit.
• Gross Proceeds: $12.53 million.
• Over-Allotment Option: Option to purchase up to an additional 15% of LIFE units at the offering price, providing up to $1,879,500 in additional gross proceeds.
• Warrant Terms: Each LIFE unit consists of one common share and one-half of one common share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of $1.00 per share for a period of 36 months following the closing date.
• Use of Proceeds: Advancing exploration programs, including drilling at the Tahami South project and follow-up work on regional copper-gold and gold targets, as well as general working capital.
• Closing Date: Scheduled on or about November 4, 2025.
• Regulatory Status: Subject to regulatory approvals, including acceptance by the Canadian Securities Exchange. Units are not subject to a hold period under applicable Canadian securities laws.

Notable Quotes

• No direct quotes from management were included in the provided text.