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Mining industry

Questcorp Mining Inc. Closes First Tranche of Private Placement Offering

Strategic Insights

— 2 min read

Questcorp Mining Inc. has closed the first tranche of its non-brokered private placement, issuing 14,000,334 units at a price of $0.15 per unit for gross proceeds of $2,100,050. The company plans to utilize the funds for advancement of ongoing exploration and drill work at the La Union Gold and Silver Project, upcoming exploration work at the North Island Copper Property, and for general working capital purposes. A portion of the units issued will be held pursuant to a sharing agreement with Sorbie Bornholm LP, which will determine the company's economic interest in 24 monthly settlement tranches.

Key Takeaways:

  • Questcorp Mining Inc. has closed the first tranche of its non-brokered private placement, issuing 14,000,334 units at $0.15 per unit for gross proceeds of $2,100,050.
  • The company plans to utilize the funds for exploration and drill work at the La Union Gold and Silver Project and the North Island Copper Property, as well as for general working capital purposes.
  • A portion of the units issued will be held pursuant to a sharing agreement with Sorbie Bornholm LP, which will determine Questcorp's economic interest in 24 monthly settlement tranches.
  • The Sharing Agreement provides that if the Settlement Price exceeds the Benchmark Price of $0.1949, Questcorp will receive more than 100% of the monthly settlement due on a pro-rata basis.
  • If the Settlement Price is below the Benchmark Price, Questcorp will receive less than 100% of the monthly settlement due on a pro-rata basis.
  • The Units issued to subscribers in the first tranche of the Offering were issued pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 and are not subject to statutory hold periods.

Statistics:

  • 14,000,334 units were issued at $0.15 per unit for gross proceeds of $2,100,050.
  • The company plans to utilize the funds for advancement of ongoing exploration and drill work at the La Union Gold and Silver Project.
  • 24 monthly settlement tranches will be used to determine Questcorp's economic interest in the Sharing Agreement with Sorbie Bornholm LP.
  • The Benchmark Price is $0.1949, and if the Settlement Price exceeds this amount, Questcorp will receive more than 100% of the monthly settlement due.
  • If the Settlement Price is below the Benchmark Price, Questcorp will receive less than 100% of the monthly settlement due.

Sources:

  • Newsfile Corp. - October 27, 2025
  • Questcorp Mining Inc. press release - October 27, 2025

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