Future Mineral closes first tranche of placement

Questcorp Mining Inc. (CSE: QQQ) has completed the first tranche of its upsized non-brokered private placement, raising gross proceeds of $2.62 million through the issuance of 13.1 million units at $0.20 per unit. Each unit comprises one common share and one-half of one common share purchase warrant. The warrants, exercisable at $0.30 per share until February 24, 2029, are subject to a 60-day holding period before exercise. The company allocated proceeds to exploration activities at its La Union Gold and Silver Project and North Island Copper Project, as well as general working capital.

The offering utilized the Listed Issuer Financing Exemption under Canadian securities regulations, allowing immediate trading of units in all provinces except Quebec and qualifying jurisdictions. Finders' fees included $16,300 in cash and 720,000 units, alongside 801,500 finders' warrants with identical terms to the offering warrants. All securities issued to finders are restricted until June 25, 2026.

The securities have not been registered under U.S. federal securities laws and are not offered for sale in the United States. The company emphasized compliance with regulatory exemptions and noted that forward-looking statements in the press release are subject to risks and uncertainties, including market and operational factors.

Questcorp Mining, focused on precious and base metal exploration in North America, holds options to acquire 100% interests in the North Island Copper Property (British Columbia) and La Union Project (Mexico), both subject to royalty obligations.