GoldQuest Mining (GQC-V) May 19, '16 is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc., pursuant to which the underwriters have agreed to purchase 15,625,000 common shares at a price of $0.32 per Common Share of the Company, on a bought deal private placement basis, for aggregate gross proceeds to the Company of C$5 million.
The Company has also granted the underwriters an option to purchase up to 15% of the number of Common Shares sold pursuant to the Offering, exercisable at any time prior to the Closing Date.
The net proceeds from the sale of the Common Shares will be used towards land acquisition, general haul road preparatory work and for general corporate purposes.
The Offering is scheduled to close on or about June 9, 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.
The securities to be issued under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of GoldQuest's securities in the United States.
About GoldQuest
GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic. GoldQuest is traded on the TSX-V under the symbol GQC and in Frankfurt/Berlin with symbol M1W. GoldQuest has moved its Toronto office to 133 Richmond Street West - Suite 501, Toronto, Ontario M5H 2L3, which has reduced corporate general administration expenditures.
Additional information can be viewed at the Company's website www.goldquestcorp.com.
On Behalf of the Board of Directors of GoldQuest Mining Corp.,
Bill Fisher, Chairman
GoldQuest Mining Corp.
www.goldquestcorp.com
Julio Espaillat
President & CEO - Santo Domingo
+1-829-919-8701
JEspaillat@GoldQuestCorp.com
Bill Fisher
Executive Chairman - Toronto
+1-647-271-4505
BFisher@GoldQuestCorp.com |
