Questcorp Mining Provides Update on Private Placement

Executive Summary

• Questcorp Mining Inc. revised its non‑brokered private placement, now offering up to 7.5 million AI Units at $0.20 and up to 11.111 million LIFE Units at $0.18, for total gross proceeds of up to $3.5 million.
• Each unit includes one common share plus a half‑share purchase warrant; AI Warrants are exercisable at $0.30, LIFE Warrants at $0.24, both with 24‑month terms.
• Proceeds will be used for exploration and drilling at the La Union Gold & Silver Project, work on the North Island Copper Property, and general working capital.

Key Details

• AI Units: up to 7,500,000 units @ $0.20 per unit → gross proceeds up to $1,500,000.
• LIFE Units: up to 11,111,112 units @ $0.18 per unit → gross proceeds up to $2,000,000.
• AI Unit composition: 1 common share + ½ share purchase warrant (AI Warrant). AI Warrant: exercise price $0.30, expires 24 months after closing; accelerated expiry if share price ≥ $0.50 for ten consecutive trading days.
• LIFE Unit composition: 1 common share + ½ share purchase warrant (LIFE Warrant). LIFE Warrant: exercise price $0.24, expires 24 months after closing.
• Exemptions used:
• AI Units – Accredited Investor Exemption (NI 45‑106 §2.3).
• LIFE Units – Listed Issuer Financing Exemption (NI 45‑106 Part 5A).
• Use of proceeds:
• Advancement of ongoing exploration and drill work at the La Union Gold & Silver Project (Mexico).
• Upcoming exploration at the North Island Copper Property (Vancouver Island, BC).
• General working capital.
• Investor participation: UK‑based institutional investor Sorbie Bornholm LP expected to participate in a portion of the offering.
• Finders’ fees: Company will pay eligible third‑party finders who introduce subscribers.
• Resale restrictions: AI Units subject to a 4‑month‑and‑1‑day hold period; LIFE Units have no resale hold period.
• Closing conditions: Completion subject to receipt of required regulatory approvals.

Notable Quotes

(No direct quotes were included in the release.)