GoldQuest Mining closes $6.6 million bought deal private placement
Thursday, Jun 21, 2012GoldQuest Mining Corp. (the "Company") (TSX VENTURE:GQC)(FRANKFURT:M1W)(
In connection with the Offering, the Underwriters received a cash commission equal to 6.0% of the gross proceeds raised under the Offering (inclusive of the Option) and that number of non-transferable broker warrants ("Broker Warrants") as is equal to 6.0% of the number of Offered Securities sold (inclusive of the Option). Each Broker Warrant will be exercisable into one Share of the Company, for a period of 24 months from the Closing Date at a price of $0.45 per Share.
The securities issued pursuant to the Offering are subject to a hold period expiring on October 21, 2012.
The net proceeds will be used to advance the exploration and development of the Company's gold assets in the Dominican Republic and for general corporate purposes.