Quimbaya Gold Closes $4 Million Financing and Expands Executive Team

Core Viewpoint - Quimbaya Gold Inc. has successfully closed a $4 million financing round, which will fully fund the company into 2026 for advancing multiple projects in Colombia [1][2]. Financing Details - The company completed an upsized non-brokered private placement of 11,525,299 units at a price of C$0.35 per unit, resulting in gross proceeds of $4,033,854 [2]. - Each unit consists of one common share and one common share purchase warrant, with warrants allowing the purchase of shares at C$0.60 for 36 months, expiring on July 4, 2028 [3]. Investor Participation - The upsizing of the financing was driven by a single investor group known for its successful track record in supporting exploration and development projects in South America [4]. - Certain insiders of the company participated in the offering, subscribing for a total of 435,714 units for $152,500 [7]. Use of Proceeds - The funds raised will be allocated to advance exploration programs, including drilling at the Tahami South project and follow-up work on regional copper-gold and gold targets, as well as general working capital [5]. Executive Team Expansion - Quimbaya has appointed Sebastian Wahl as Vice President of Business Development, who has been instrumental in shaping the company's strategic direction [9][10]. - The appointment is seen as timely and aligns with the company's growth trajectory, enhancing its leadership team [11]. Incentive Securities - The company granted 1,730,000 restricted share units and 1,655,000 stock options to directors, officers, and advisors as part of its long-term performance incentive plan [12]. Company Overview - Quimbaya Gold Inc. focuses on discovering gold resources through exploration and acquisition in Colombia's mining districts, with key projects in Segovia, Puerto Berrio, and Abejorral [13].