Questcorp Mining's Private Placement: Fueling Exploration and Growth

In a strategic move to fund its exploration and development activities, Questcorp Mining Inc. (CSE: QQQ) has successfully closed a non-brokered private placement offering. The company raised gross proceeds of $350,000 through the issuance of 4,999,999 units at a price of $0.07 per unit. Each unit consists of one common share and one common share purchase warrant, entitling the holder to acquire a further common share at a price of $0.10 per share until June 28, 2026.

The proceeds from the private placement will be used to advance an exploration program at the company's North Island Copper Property and for general working capital purposes. This aligns with Questcorp's primary objective of acquiring and exploring mineral properties in Canada, with a focus on the North Island Copper Property.

The private placement also involved an insider participating for 183,570 units, representing a related party transaction. However, the transaction was exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the participation did not exceed 25% of the fair market value of the company's market capitalization.

In connection with the completion of the offering, the company paid finders' fees of $7,392 and issued 57,600 warrants to arms-length finders who assisted in introducing subscribers to the company. All securities issued in connection with the offering are subject to a statutory hold period of four-months-and-one-day until October 29, 2024.

Questcorp Mining's private placement is a testament to the company's commitment to funding its exploration and development activities, as well as maintaining a stable financial position. By securing funds through this offering, the company is well-positioned to continue pursuing its long-term strategic objectives and creating value for shareholders.

As an investor, it's essential to stay informed about companies like Questcorp Mining that are actively exploring and developing mineral properties. By understanding their financing strategies and exploration activities, you can make more informed investment decisions and potentially identify opportunities for long-term growth.

In conclusion, Questcorp Mining's private placement is a positive development for the company, as it allows them to fund their exploration and development activities while maintaining a stable financial position. As an investor, keeping an eye on companies like Questcorp Mining can help you identify potential opportunities for long-term growth in the mineral exploration and development sector.