11:38 AM EDT, 10/03/2025 (MT Newswires) -- Q-Gold Resources ( QGLDF ) said Friday that it has closed its private placement offering of 76.6 million subscription receipts at $0.15 each, raising $11.5 million. This includes the full exercise of the over-allotment option.

Proceeds will be used to complete the acquisition of Quartz Mountain project in Oregon, and advance the Mine Centre camp in Ontario.

Each subscription receipt will be automatically exchanged into one unit when the escrow release conditions are met by Nov. 14. Each unit will consist of one share and half a warrant. Each two-year warrant can buy a share at $0.20.

Q-Gold Resources ( QGLDF ) is unchanged at $0.27 on the TSX Venture Exchange.