12:50 PM EST, 11/04/2025 (MT Newswires) -- Quimbaya Gold ( QIMGF ) on Tuesday said it closed a bought-deal private placement of share units that raised $14.4 million, including the full exercise of the underwriter's over-allotment option.

The underwriter purchased 20.58-million LIFE units priced at C$0.70 each and made up of a share and a three-year warrant to buy a share for $1.00.

The company said proceeds are expected to 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.

Quimbaya shares were last seen down $0.06 to $0.56 on the Canadian Securities Exchange.

Price: 0.56, Change: -0.06, Percent Change: -9.68