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Conquest Resources ( (TSE:CQR) ) has shared an update.
Conquest Resources has closed the final tranche of its previously announced non-brokered private placement and increased the financing to $415,000, issuing 8.3 million shares at $0.05 to fund exploration at its Belfast-TeckMag Project and for general corporate purposes. The financing, which included insider participation and a small finder’s fee, remains subject to TSX Venture Exchange and other regulatory approvals, with no new control person created, underscoring modest but continued investor interest in the company’s Ontario-focused exploration portfolio.
The transaction qualifies as a related party deal under Canadian securities rules, but Conquest is relying on exemptions from formal valuation and minority approval requirements because the insider component represents a small portion of its market capitalization. The capital raise supports ongoing work on its flagship Belfast-TeckMag Project, reinforcing the company’s strategic focus on advancing underexplored, high-potential base metal and gold assets in established Ontario mining camps.
More about Conquest Resources
Conquest Resources Limited is a Toronto-based mineral exploration company focused on base metals and gold projects in Ontario. Its flagship Belfast-TeckMag Project in the Temagami Mining Camp targets magmatic sulphide, VMS, IOCG, iron formation-hosted and paleo-placer gold deposits, alongside additional interests in the Alexander Gold Property in the Red Lake Camp and the Smith Lake Gold Property.
Average Trading Volume: 202,477
Technical Sentiment Signal: Buy
Current Market Cap: C$8.81M
Find detailed analytics on CQR stock on TipRanks’ Stock Analysis page.