10:08 AM EDT, 07/07/2025 (MT Newswires) -- Quimbaya Gold ( QIMGF ) over the weekend closed its upsized non-brokered private placement of around 11.52 million units at $0.35 each for gross proceeds of roughly $4.03 million.

Each unit is made up of one common share in the capital of the company and one common share purchase warrant to buy one share at $0.60 apiece for 36 months, until on July 4, 2028.

The company said that the proceeds from the offering will be used to advance its exploration programs, including drilling at the Tahami South project and follow-up work on regional copper-gold and gold targets, as well as for general working capital.

Company insiders subscribed for 435,714 units for an aggregate amount of $152,500.

"With this raise, we are now well-funded into 2026," said Quimbaya Gold's ( QIMGF ) President & Chief Executive Officer, Alexandre P. Boivin. "These funds will allow us to deepen our work at the Tahami South project while expanding efforts across the broader portfolio. We're committed to smart, disciplined execution and are very encouraged by the high conviction backing we've received."

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