Vancouver, British Columbia — January 9, 2026 — Leads & Copy — GoldQuest Mining Corp. has announced the closing of the second tranche of its non-brokered private placement, originally announced on December 16, 2025. The first tranche closed on December 23, 2025.
Under the Second Tranche, the Company issued 7,172,813 Units at a price of C$1.21 per Unit, for total gross proceeds of approximately C$8.7 million.
Each Unit includes one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant can be used to purchase one Common Share at an exercise price of C$1.80 per Common Share for 24 months from the applicable closing date of the Private Placement.
Combined with the First Tranche, the Company has issued a total of 31,966,201 Units under the Private Placement, for gross proceeds of approximately C$40 million.
In connection with the Second Tranche, the Company paid a cash finder’s fee of C$305,579.45 to Paradigm Capital Inc.
All Common Shares and Warrants issued pursuant to the Private Placement are subject to a four-month statutory hold period under applicable Canadian securities laws.
The Company expects to close the third and final tranche of the Private Placement of up to C$3,320,896 early next week.
The Company plans to use the proceeds of the Private Placement for early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes.
Insiders of the Company acquired an aggregate of 150,000 Units (C$181,500) under the Second Tranche. Such insider participation constitutes a “related party transaction” as defined under the TSV Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities to be acquired by insiders, nor the consideration paid by them, exceeds 25% of the Company’s Market Capitalization.
GoldQuest Mining Corp. is a Canadian exploration and development company focused on advancing its gold and copper assets in the Dominican Republic. The Company has a Board of Directors and management team with prior experience developing and operating a mine in the country.
Luis Santana, Chief Executive Officer
1 (809) 224-0629
lsantana@goldquestcorp.com
Source: GoldQuest Mining Corp.
