Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) announced today that it has increased the size of its previously announced non-brokered private placement from approximately $2 million to $4 million. This upsizing follows a cornerstone investment from a strategic investor group with a long-term commitment to Quimbaya’s growth. Notably, no commissions will be paid in connection with this investment.
The Company regards this move as a strong validation of its regional-scale exploration strategy in Colombia, particularly the progress made at its flagship Tahami project. The private placement is expected to close on or about June 27, 2025, pending customary closing conditions and regulatory approvals. All securities issued under the Offering will be subject to a four-month and one-day hold period in line with applicable securities laws.
CEO Highlights Strategic Investor Confidence
Alexandre P. Boivin, President and CEO of Quimbaya Gold, stated, “The conviction shown by this well-informed, long-term strategic investor group with a proven track record is a powerful endorsement. We have always believed in the strength of our portfolio, and this capital infusion not only provides us with greater flexibility but also accelerates our upcoming drilling campaign to unlock the project’s potential.”
Details of the Offering
Under the upsized Offering, Quimbaya may issue up to 11,428,572 Units at $0.35 per Unit, raising gross proceeds of approximately $4 million. Each Unit consists of one common share and one common share purchase warrant. Each warrant grants the holder the right to purchase one additional common share at C$0.60 per share for 36 months following the Offering date.
The proceeds will primarily fund exploration activities on Quimbaya’s 100% owned gold assets in Colombia, with a focus on the Tahami project located in Segovia, adjacent to Aris Mining. Funds will also support general working capital needs.
Forward-Looking Statements and Legal Notice
Quimbaya expresses gratitude for the strong interest from both new and existing shareholders and plans to provide a detailed operational update soon.
It is important to note that the securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933 and therefore cannot be offered or sold in the United States or to U.S. persons without registration or an applicable exemption. This press release does not constitute an offer to sell or solicitation to buy securities in the United States.
Conclusion
Quimbaya Gold’s increased private placement underscores growing investor confidence in its Colombian exploration projects, providing vital capital to advance its Tahami gold project and strengthen its position in the region.
