Questcorp Mining amends private placement

Executive Summary

• Questcorp Mining Inc. announced a revised non‑brokered private placement of up to 23,333,334 units at C$0.15 per unit, targeting gross proceeds of up to C$3.5 million.
• Each unit consists of one common share and half of a share purchase warrant (full warrant exercisable at C$0.20 per share for 24 months, with accelerated expiry if the share price stays ≥ C$0.50 for ten consecutive trading days).
• Proceeds will be used to fund exploration and drilling at the La Union gold‑silver project, upcoming work at the North Island copper property, and general working capital.

Key Details

• Units Offered: Up to 23,333,334 units.
• Price per Unit: C$0.15.
• Maximum Gross Proceeds: Approximately C$3.5 million.
• Unit Composition:
• 1 common share of Questcorp Mining Inc.
• ½ of a share purchase warrant (full warrant gives the holder the right to acquire one additional common share).
• Warrant Terms:
• Exercise price: C$0.20 per share.
• Exercise window: 24 months after closing of the offering.
• Accelerated expiry if Questcorp’s closing share price is ≥ C$0.50 for ten consecutive trading days.
• Exemptions Utilized:
• Accredited investor exemption under NI 45‑106, Section 2.3.
• Listed issuer financing exemption under Part 5A of NI 45‑106.
• Use of Proceeds:
• Advancement of ongoing exploration and drill work at the La Union gold‑silver project (Sonora, Mexico).
• Upcoming exploration activities at the North Island copper property (Vancouver Island, B.C.).
• General working capital.
• Key Investor Participation: United Kingdom‑based institutional investor Sorbie Bornholm LP is expected to subscribe to a portion of the offering.
• Finder’s Fees: The company will pay finders’ fees to eligible third parties that introduce subscribers.
• Resale Restrictions:
• Securities issued under the accredited investor exemption are subject to a four‑month‑plus‑one‑day hold period.
• Securities issued under the listed issuer financing exemption have no resale restriction.
• Regulatory Conditions: Completion of the offering is contingent upon receipt of required regulatory approvals.

Notable Quotes

(No direct quotes were provided in the release.)