Q-Gold Provides Update on Fully Subscribed Private Placement Financing

Core Viewpoint - Q-Gold Resources Ltd. has announced the conditional approval of a financing offering by the TSX Venture Exchange, which is fully allocated and includes an over-allotment option, resulting in total gross proceeds of C$11,500,000 [1][2][6]. Offering Details - The offering will consist of up to 76,666,667 Subscription Receipts priced at C$0.15 each, which will convert into Units upon the satisfaction of certain conditions [2][3]. - Each Unit will comprise one common share and one-half of a common share purchase warrant, with the warrants allowing the purchase of additional shares at C$0.20 for 24 months [4][6]. - The offering is expected to close in escrow around October 2, 2025, pending regulatory approvals and other customary conditions [10][12]. Use of Proceeds - The net proceeds from the offering will be used to finance the acquisition of the Quartz Mountain Project, fund exploration programs at the Mine Centre project, and for general working capital [9][12]. Regulatory and Closing Conditions - The completion of the offering and acquisition is subject to various regulatory approvals, including those from the TSXV, and the filing of a technical report in accordance with National Instrument 43-101 [10][11]. - The offering will be structured to ensure that if conditions are not met by the Escrow Release Deadline, the Subscription Receipts will be cancelled and funds returned to the holders [5][7].