Questcorp Mining plans $2 million private placement

Questcorp Mining Inc. (CSE: QQQ) announced a private placement offering of up to 10 million units at $0.20 per unit for gross proceeds of up to $2 million. Each unit consists of one common share and half of one share purchase warrant.

The warrants allow holders to purchase additional common shares at $0.30 each for 36 months following the offering's closure, with a 60-day restriction period after closing before exercise is permitted.

The company stated it expects 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 units will be offered under the listed issuer financing exemption in all Canadian provinces except Quebec and other qualifying jurisdictions including the United States. Securities offered under this exemption will be immediately free-trading under Canadian securities laws.

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

The company holds options to acquire mineral properties including the North Island Copper Property on Vancouver Island, British Columbia, comprising 1,168.09 hectares, and the La Union Project in Sonora, Mexico, totaling 2,520.2 hectares. Both properties are subject to royalty obligations.

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