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Re: News Releases - Friday, April 09, 2010
GoldQuest Closes Second Tranche of Financing
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VANCOUVER, BC, APRIL 9, 2010 -- GoldQuest Mining Corp. (TSX-V: GQC)
(the "Company") is pleased to announce that it has completed the second
tranche of its previously announced $2.6 million private placement
transactions. For the second tranche, the Company has issued an
aggregate of 6,644,800 units, at $0.125 per unit, for aggregate gross
proceeds of $830,600. The Company is anticipating closing the balance
of the offering prior to April 23, 2010. Each unit is comprised of one
common share in the capital of the Company and one half of one share
purchase warrant (a "Warrant"). Each whole Warrant entitles the holder
to purchase one common share for a period of 24 months, following the
closing of the Private Placement, at an exercise price of CDN$0.20 per
share. The Company has the right to call the outstanding Warrants for
expiry upon 30 days notice in the event that the daily volume weighted
average trading price of the Company's common shares on the TSX Venture
Exchange (the "Exchange"), exceeds $0.35 on 10 consecutive days.
In addition to aggregate cash commissions of $48,475, the Company also
issued an aggregate of 554,000 finder's warrants, each entitling the
holder to acquire one common share of the Company at a price of $0.145
per share, on or before April 9, 2012. The private placement
securities have a hold period expiring on August 10, 2010.
The Company intends to use the net proceeds to execute a detailed
strategic exploration plan developed for both Spain and the Dominican
Republic, and for working capital and general corporate purposes.
In Spain the strategic plan includes the compilation of the historical
Toral project and regional data and the exploration of the district and
Toral project along strike. In the Dominican Republic the Company
intends to fast-track several gold-copper targets to drill stage
including the Las Tres Palmas epithermal gold project, formally part of
the Gold Fields funded joint venture. The GoldQuest portfolio of
projects in the Dominican Republic and Spain are 100% owned by the
Company.
About GoldQuest
GoldQuest is a Vancouver based Exploration company with projects in the
Dominican Republic and Spain. Through a combination of regional
grass-roots generative exploration and new geological models the
Company has built a portfolio of new projects. GoldQuest is traded on
the TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol
M1W.
For further information please contact:
Alistair Waddell
President & Chief Executive Officer
Dan Maarsman
Investor Relations -- Vancouver, Canada
Tel: +1-604-632 4333
www.goldquestcorp.com
investorrelations@goldquestcorp.com
This news release contains forward-looking statements that reflect the
Company's expectations with regard to future events. Actual events
could differ significantly from those anticipated in this document.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be offered
or sold within the United States or to a "U.S. Person", as such term is
defined in Regulation S under the U.S. Securities Act, unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from registration is available.
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Copyright (c) 2010 GOLDQUEST MINING CORP. (GQC) All rights reserved.
For more information visit our website at http://www.goldquestcorp.com/
or send mailto:investorrelations@goldquestcorp.com
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Goldquest Mining Corp.
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EXPLORATEUR |
CODE : GQC.V |
ISIN : CA38144C1005 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Goldquest Mining est une société d’exploration minière d'or basée au Canada. Goldquest Mining détient divers projets d'exploration en Republique Dominicaine. Ses principaux projets en exploration sont CERRO DORADO, PIEDRA IMÁN, JENGIBRE, LOS COMIOS, LAS TRES PALMAS / SAN JUAN, EL TORO, LOMA VIEJO PEDRO, SANTA ANA, LAS ANIMAS et LA ESCALANDOSA en Republique Dominicaine et TORAL en Espagne. Goldquest Mining est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 53,9 millions CA$ (39,7 millions US$, 35,8 millions €). La valeur de son action a atteint son plus bas niveau récent le 18 mai 2012 à 0,04 CA$, et son plus haut niveau récent le 24 août 2012 à 2,03 CA$. Goldquest Mining possède 215 730 000 actions en circulation. |