QUIMBAYA GOLD INC. ANNOUNCES PRIVATE PLACEMENT, SHARES FOR DEBT TRANSACTIONS
Summary
Closing of the Placement and Debt Settlement is expected to occur on or about December 11th, 2024.All securities issued pursuant to the Placement and Debt Settlement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.Certain insiders of the Company will be participating in the Placement. "United States" and "U.S. person" have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.Depending on market conditions and receipt of regulatory approvals, the Company reserves the right to proceed with the closing of additional subscriptions at the same terms and conditions of the Placement announced today. The Company also announces that its board of directors has approved the early release of 925,000 common shares held by Remandes Corporation S.A. from a voluntary hold period expiring on December 27th, 2025 (see Company news release dated December 27th, 2023).Quimbaya is active in the exploration and acquisition of mining properties in the prolific mining districts of Colombia. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.