Great Quest Gold receives extension for private placement final tranche

Great Quest Gold Ltd. (TSXV: GQ) received an extension from the TSX Venture Exchange for its non-brokered private placement offering. The exchange extended the deadline for final acceptance of the offering's final tranche until August 29, 2025.

The company closed the first tranche on July 14, 2025, issuing 11,560,000 common shares for gross proceeds of $289,000. The complete offering consists of up to 20,000,000 shares priced at $0.025 per share. All shares will be subject to a four-month and one-day hold period from the issue date.

Great Quest expects to close the final tranche on or about August 22, 2025. The company stated it will use net proceeds for costs related to its proposed reverse takeover transaction with Lotus Gold Corporation and general working capital purposes.

The Vancouver-based mineral exploration company focuses on gold and lithium projects in Namibia, Morocco, and Mali. Its flagship asset is the Damara Gold Project in Namibia, covering over 300,000 hectares across the Khorixas, Omatjete, and Outjo projects.

The offering remains subject to TSX Venture Exchange approval. Great Quest had announced details of the reverse takeover transaction with Lotus Gold Corporation in a previous press release dated May 14, 2025.

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