Quimbaya Gold Closes C$14.4 Million Bought Deal Financing

Executive Summary

• Quimbaya Gold Inc. closed a bought‑deal private placement of 20,585,000 LIFE Units at C$0.70 per unit, raising gross proceeds of C$14.41 million.
• Each LIFE Unit consists of one common share and half of a common‑share purchase warrant (full warrant exercisable at C$1.00 after 36 months).
• Net proceeds will fund exploration drilling at the Tahami South project and other regional copper‑gold/gold targets, plus general working capital.

Key Details

• Units sold: 20,585,000 LIFE Units (including full exercise of underwriter’s over‑allotment option).
• Price per unit: C$0.70.
• Gross proceeds: C$14,409,500.
• Composition of each LIFE Unit:
• 1 common share.
• ½ of a common‑share purchase warrant (full warrant exercisable for one additional common share at C$1.00 per share, valid 36 months from closing).
• Underwriter: Stifel Canada (sole underwriter and bookrunner).
• Commission to Underwriter: Cash commission of C$722,769.60 plus issuance of 1,118,208 broker warrants (each for one common share at C$0.70, exercisable for 36 months).
• Finder’s fee: Cash commission of US$59,976 paid to an eligible finder.
• Use of proceeds:
• Advance exploration programs, specifically drilling at the Tahami South project.
• Follow‑up work on regional copper‑gold and gold targets.
• General working capital.
• Regulatory framework: Offering made under the LIFE exemption (NI 45‑106) in all Canadian provinces except Québec; also offered in certain offshore jurisdictions under applicable exemptions.
• Hold period: LIFE Units issued to substituted purchasers are not subject to a statutory hold period under Canadian securities law.

Notable Quotes

(No direct quotes were included in the release.)