Quimbaya Gold Inc. Announces Completion of Fourth Tranche of Private Placement
Vancouver, BC – Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) (the “Company”) is thrilled to report that they have successfully completed the fourth tranche of their previously announced non-brokered private placement (the “Placement”).
Details of the Private Placement
The Placement consisted of 2,634,999 Units of the Company, with each Unit priced at $0.30. The aggregate gross proceeds of this placement amounted to $790,500.
Components of Each Unit
Each Unit comprises the following:
- One common share (a “Common Share”) of the Company
- One Common Share purchase warrant (a “Warrant”)
The Warrant allows the holder to acquire one additional Common Share for a period of two years from the date of issuance at an exercise price of $0.40 per Common Share.
Impact on Quimbaya Gold
The successful completion of the fourth tranche of the private placement will provide Quimbaya Gold with additional working capital to support its ongoing operations and exploration activities. This infusion of funds is a significant step towards the Company’s strategic goals.
Global Implications
The mining industry, particularly the gold sector, continues to be a global economic force. Companies like Quimbaya Gold play a crucial role in the supply chain, contributing to the global gold market. The successful completion of this private placement is indicative of investor confidence in the Company and the gold sector as a whole.
Conclusion
Quimbaya Gold’s successful completion of the fourth tranche of its private placement is a positive sign for the Company and the gold sector. The funds raised will support Quimbaya Gold’s ongoing operations and exploration activities. Furthermore, this development underscores investor confidence in the Company and the gold sector. The mining industry remains a significant contributor to the global economy, and Quimbaya Gold is well-positioned to play a role in this sector.
Quimbaya Gold continues to focus on its strategic objectives and will keep stakeholders updated on its progress.
