Questcorp Mining Announces Closing of First Tranche of Upsized Private Placement

Executive Summary

• Questcorp Mining Inc. closed the first tranche of an upsized non‑brokered private placement, issuing 11,100,000 units at $0.20 per unit for gross proceeds of $2.22 million.
• Each unit consists of one common share and half of a common share purchase warrant (full warrant exercisable at $0.30 per share until 2029).
• Proceeds will be used to fund exploration on the La Union Gold & Silver Project and North Island Copper Project, as well as for general working capital.

Key Details

• Units sold: 11,100,000 (first tranche)
• Price per unit: $0.20
• Gross proceeds: $2,220,000
• Unit composition: 1 common share + ½ common share purchase warrant (full warrant price $0.30, exercisable until Feb 24 2029; exercise prohibited for 60 days post‑closing)
• Finders’ Warrants: 661,500 warrants issued to finders at $0.30 per share, also subject to a 60‑day lock‑up and resale restrictions until June 25 2026
• Closing costs paid: $16,300
• Use of proceeds: Exploration work on La Union Gold & Silver Project (Sonora, Mexico) and North Island Copper Project (Vancouver Island, BC); general working capital
• Exemption relied upon: Listed Issuer Financing Exemption under NI 45‑106 (Part 5A), applicable in all Canadian provinces except Quebec and in qualifying U.S. jurisdictions
• Free‑trading status: Units issued are immediately free‑trading under Canadian securities law

Notable Quotes

• “The successful closing of this financing tranche provides us with the capital needed to advance our key exploration projects and strengthen our balance sheet,” – Saf Dhillon, President & CEO.