Quimbaya Gold Inc. announces the completion of a third tranche of its non-brokered private placement, raising $940,740. The funds will be used for exploration and working capital. The private placement has been increased to $3,000,000 due to strong investor demand and is expected to close on or before February 21st, 2025. The company also completed debt settlements with certain creditors.
Vancouver, British Columbia-- - Quimbaya Gold Inc. is pleased to announce that further to its news release dated December 23rd, 2024, the Company has completed a third tranche of the previously announced non-brokered private placement of 3,135,800 units of the Company at a price of $0.30 per Unit for aggregate gross proceeds of $940,740.
Quimbaya is also pleased to announced that due to strong investor demand, the private placement has been increased to $3,000,000 on the same terms and is expected to close on or before February 21st, 2025. Included as part of the private placement, Quimbaya has completed debt settlements with certain creditors of the Company also announced on December 23th, 2024, pursuant to which the Company issued to the Creditors, and the Creditors agreed to accept, an aggregate of 484,068 Units in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $146,103.40.
The Company has issued an aggregate of 116,666 Units pursuant to the Placement, to Olivier Berthiaume who are considered"related parties" of the Company , in each case constituting, to that extent, a"related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions .
FINANCE MINING EXPLORATION PRIVATE PLACEMENT COLOMBIA
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
K2 Gold Corporation Acquires Si2 Gold Project from Orogen Royalties Inc.K2 Gold Corporation has acquired the Si2 gold project located in Nevada, USA, from Orogen Royalties Inc. for C$250,000 in cash or common shares. The acquisition follows a previous option agreement and includes a 2% net smelter return royalty for Orogen. K2's recent drilling program on the Si2 project returned broad anomalous gold intercepts, highlighting its potential.
Read more »
Big Gold Inc. Closes $25,025 Private PlacementBig Gold Inc. announced the closing of a non-brokered private placement for gross proceeds of $25,025. The funds will be used to advance exploration at the Tabor Project in Ontario and for working capital.
Read more »
STLLR Gold Inc. Appoints Meghan Shannon, Ph.D. as Vice President, Sustainability and Regulatory AffairsSTLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) welcomes Dr. Meghan Shannon to the team as the new Vice President of Sustainability and Regulatory Affairs. Dr. Shannon brings extensive experience in mining and Indigenous Affairs from her previous role at the Ontario government. Her expertise will be crucial in advancing the Tower and Colomac gold projects towards shovel-ready status, particularly in securing permits and collaborating with Indigenous partners. The company is confident that Dr. Shannon's leadership and experience will contribute significantly to STLLR's success.
Read more »
Arizona Gold & Silver Drills Hit High-Grade Gold at Rising Fawn TargetArizona Gold & Silver Inc. reported high-grade gold drill results from the Rising Fawn target on its Philadelphia Project in Arizona. Two new drill holes, GB-1 and GB-2, intersected significant widths of gold mineralization, including 62.18 meters at 1.27 gpt gold and 40.39 meters at 1.0 gpt gold. The company says these results are consistent with its goal of developing a large-scale heap leach operation.
Read more »
Quimbaya Announces Debt Settlement and Appointment of Experienced Mining Professional Ricardo SierraQuimbaya announces a debt settlement agreement with a creditor, resulting in the issuance of 22,058 common shares. The company also welcomes Ricardo Sierra, a seasoned economic geologist with over 18 years of experience in Latin America, to its team.
Read more »
Spanish Mountain Gold Advances Renewable Power Supply for 'Greenest' Gold Mine in CanadaSpanish Mountain Gold Ltd. (SMG) has completed Stage 1 of its System Impact Study (SIS) with BC Hydro, paving the way for the delivery of 60 MW of renewable hydroelectric power to its flagship Spanish Mountain Gold Project in British Columbia, Canada. This marks a significant step towards securing a clean and sustainable energy source for the project, enabling advancements in electrification, mineral processing, and waste management practices. SMG's commitment to responsible mining is further emphasized through its ongoing Whittle Enterprise Optimization and dedication to community and Indigenous relations.
Read more »