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Questcorp Mining, Inc. ( (TSE:QQQ) ) has issued an update.
Questcorp Mining Inc. has closed the first tranche of an upsized non-brokered private placement, issuing 13,100,000 units at $0.20 each for gross proceeds of $2.62 million. Each unit comprises one common share and half of a warrant, with full warrants exercisable at $0.30 until February 24, 2029, though warrant exercise is restricted for 60 days after closing.
The financing, conducted under the listed issuer financing exemption in most Canadian provinces and certain other jurisdictions, is intended to fund exploration at Questcorp’s La Union gold and silver project and North Island Copper Project, as well as general working capital. The company also paid cash and securities-based finder’s fees, with related securities subject to resale restrictions until June 25, 2026, underscoring active capital markets support for its exploration plans.
More about Questcorp Mining, Inc.
Questcorp Mining Inc. is a North America-focused mineral exploration company targeting economic precious and base metal deposits. The Vancouver-based firm holds options to acquire 100% interests in the North Island Copper Property on Vancouver Island, British Columbia, and the La Union gold and silver project in Sonora, Mexico, both subject to royalty obligations.
Average Trading Volume: 265,674
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$18.34M
For an in-depth examination of QQQ stock, go to TipRanks’ Overview page.