Questcorp Mining plans $2 million private placement offering

Questcorp Mining Inc. (CSE: QQQ) announced a private placement offering of up to 10 million units at $0.20 per unit, targeting gross proceeds of up to $2 million.

Each unit consists of one common share and one-half share purchase warrant. The warrants allow holders to acquire additional common shares at $0.30 each for 36 months following the offering's close, with a 60-day restriction period after closing before exercise.

The company plans to use proceeds for exploration work at its La Union Gold and Silver Project and North Island Copper Project, along with general working capital purposes.

The offering will be conducted under Canada's listed issuer financing exemption in all provinces except Quebec and other qualifying jurisdictions including the United States. Units issued under this exemption will be immediately free-trading under Canadian securities laws.

Questcorp may pay finders' fees to eligible third parties who introduce subscribers to the offering. The completion remains subject to regulatory approvals.

The Vancouver-based company focuses on acquiring and exploring mineral properties in North America. It holds options to acquire 100% interests in the North Island Copper Property on Vancouver Island, British Columbia, covering 1,168.09 hectares, and the La Union Project in Sonora, Mexico, spanning 2,520.2 hectares. Both properties are subject to royalty obligations.

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