GoldQuest Announces Upsizing of Private Placement
GoldQuest Announces Upsizing of Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2025) - GoldQuest Mining Corp. (TSXV:
GQC) (OTCQX: GDQMF) ("GoldQuest" or the "Company") is pleased to announce that due to
significant interest, the Company intends to increase the size of its previously announced non-brokered
private placement (the "Private Placement"). The Private Placement will now be comprised of an
aggregate of up to 34,710,743 units of the Company (the "Units") at a price of $1.21 per Unit, for
aggregate gross proceeds of up to approximately $42 million.
Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of
one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be
exercisable to purchase one Common Share at an exercise price of $1.80 per Common Share for a
period of 24 months from the applicable closing of the Private Placement.
Luis Santana, CEO of GoldQuest Mining Corp., commented: "We are encouraged by the continued
support and trust demonstrated by large Dominican institutional investors, whose long-term participation
reflects confidence in the quality of the Romero project and in our disciplined approach to advancing it.
The strong demand for this financing reinforces institutional acceptance of our strategy and provides
additional confidence as we move forward. Importantly, the convergence of Dominican institutional
investors and International capital markets participants creates a uniquely strong and well-aligned
shareholder base, which we view as critical as we advance permitting, fund development, and move
Romero toward construction."
The Private Placement is expected to close in tranches on or before January 9, 2026, subject to the
completion of formal documentation and receipt of all necessary regulatory approvals, including approval
of the TSX Venture Exchange (the "TSXV").
The Company expects 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.
It is anticipated that certain insiders of GoldQuest will subscribe for Units in the Private Placement. The
issuance of Units will be considered related party transactions within the meaning of TSXV Policy 5.9
and Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority
approval requirements contained in Sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 in respect
of such insider participation.
As consideration for services provided in connection with the Private Placement, the Company will pay a
finder's fee to certain eligible finders who introduced subscribers to the offering, including Paradigm
Capital Inc.
Common Shares and Warrants issued under the Private Placement will be subject to a four-month
statutory hold period in accordance with applicable Canadian securities laws.
About GoldQuest Mining Corp.
GoldQuest Mining Corp. is a Canadian exploration and development company with strong participation
from Dominican investors, 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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are forward-looking information
that involves known and unknown risks and uncertainties. Forward-looking statements in this news
release include, but are not limited to, statements with respect to the size of the Private Placement, the
offering price and closing date of the Private Placement, the use of proceeds raised under the Private
Placement, the Company's plans with respect to the Romero project and the Company's focus on
advancing its assets in the Dominican Republic. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "looks forward", "has proven", "expects" or "does not
expect", "is expected", "potential", "likelihood", "appears", "budget", "scheduled", "estimates",
"forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of
such words and phrases or state that certain actions, events or results "may", "could", "would", "should",
"might" or "will be taken", "occur" or "be achieved".
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward-looking
statements. Such risks and other factors include, among others, risks related to receiving TSXV
approval of the Private Placement; the implementation, application and interpretation of the recent
changes to the Dominican Republic's environmental regulations; risks related to the ability of the
Company to advance and complete a feasibility study, Environmental and Social Impact Assessment
and other studies on the Romero project; economic and political conditions globally and in the
Dominican Republic; uncertainties inherent in drill results and the estimation of mineral resources;
commodity prices; changes in general economic conditions; market sentiment; currency exchange rates;
the Company's ability to continue as a going concern; the Company's ability to raise funds through equity
financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future
prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes
and other risks of the mining industry; delays in obtaining governmental approvals; government
regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance
coverage and the timing and possible outcome of litigation. Although the Company has attempted to
identify important factors that could affect the Company and may cause actual actions, events or results
to differ materially from those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, do not place undue
reliance on forward-looking statements. All statements are made as of the date of this news release and
the Company is under no obligation to update or alter any forward-looking statements except as required
under applicable securities laws. Forward-looking statements are based on assumptions that the
Company believes to be reasonable, including expectations regarding mineral exploration and
development costs; expected trends in mineral prices and currency exchange rates; the accuracy of the
Company's current mineral resource estimates; that the Company's activities will be in accordance with
the Company's public statements and stated goals; that there will be no material adverse change
affecting the Company or its properties; that all required approvals will be obtained and that there will be
no significant disruptions affecting the Company or its properties.
For further information, please contact:
Luis Santana, Chief Executive Officer
1 (809) 224-0629
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/278470