Mining
Tuesday, December 12th, 2023 8:58 pm EDT
Key Points
Initial Public Offering (IPO) Details:
-
- Questcorp Mining Inc. completed its IPO based on an amended and restated prospectus dated Sept. 13, 2023.
- The company issued five million common shares at a purchase price of 10 cents per common share.
- The IPO generated aggregate gross proceeds of $500,000.
Financial Transactions and Agreements:
-
-
- Canaccord Genuity Corp. acted as the agent for the offering on a commercially reasonable efforts basis.
- Canaccord Genuity Corp. received a cash commission equal to 10% of the gross proceeds and a corporate finance fee.
- As part of the agreement, Questcorp issued 500,000 non-transferable agent warrants, each exercisable for one common share at a price of 10 cents until Dec. 12, 2025.
-
Use of Proceeds and Listing Information:
-
- The proceeds from the offering will be used to finance Questcorp’s exploration work and for working capital purposes.
- Questcorp’s common shares were listed on the Canadian Securities Exchange on Dec. 11, 2023, and are expected to commence trading on or about Dec. 13, 2023, under the trading symbol QQQ.
Questcorp Mining Inc. has completed its initial public offering pursuant to an amended and restated prospectus dated Sept. 13, 2023, in which it issued an aggregate of five million common shares of the company at a purchase price of 10 cents per common share. This generated aggregate gross proceeds of $500,000.
Canaccord Genuity Corp. acted as agent on a commercially reasonable efforts basis in respect of the offering and received a cash commission equal to 10 per cent of the gross proceeds and a corporate finance fee. In addition, Questcorp issued 500,000 non-transferable agent warrants, with each agent warrant exercisable for one common share for a price of 10 cents until Dec. 12, 2025.
Proceeds of the offering will be applied to finance the company’s exploration work and for working capital purposes.
Questcorp’s common shares were listed on the Canadian Securities Exchange on Dec. 11, 2023, and are expected to commence trading on or about Dec. 13, 2023, under the trading symbol QQQ.
About Questcorp Mining Inc.
Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in Canada. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property on Vancouver Island, British Columbia, subject to a royalty obligation. The company’s secondary objective is to locate and develop economic precious metal and base metal properties of merit.
