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Quimbaya Gold Announces Strategic Private Placement of up to $2,000,000 Led by Co-Founder of Gran Colombia Gold, Serafino Iacono
Strategic financing deepens alignment with industry leader as Quimbaya advances drill-ready Colombian gold portfolio
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Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 5,714,286 units of the Company (each, a "Unit"), at a price of C$0.35 per Unit, to raise gross proceeds of up to approximately C$2,000,000 (the "Offering"), including a lead order of C$500,000 from Mr. Serafino Iacono, an influential figure in Colombian mining, Co-founder of Gran Colombia Gold Corp. (now Aris Mining Corporation) and Executive Chairman of Denarius Metals Corp.
Each Unit will be comprised of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Share at a price of C$0.60 per Share for a period of 36 months from the issuance date of the Offering. The remaining Units issued under the Offering will be limited to other strategic investors with deep experience in Latin American exploration and project development.
"Seeing our hard work over the past few years recognized by industry leaders like Serafino Iacono is a real validation of our strategy and our assets," said Alexandre P. Boivin, CEO of Quimbaya Gold. "With strong exploration results, a drill-ready portfolio, and the right people around the table, we're incredibly excited about what lies ahead, especially as we prepare to kick off drilling at Tahami South. This is a pivotal moment for Quimbaya, and we're just getting started."
Strategic Alignment and Validation
The participation of Mr. Iacono, who played a pivotal role in the revival of the Colombian gold sector, signals high conviction in Quimbaya's assets and leadership. His investment marks a strong endorsement of the Company's solid Portfolio and in particular its drill-ready Tahami Project in the Middle Cauca Belt, one of Colombia's most prolific gold districts.
"I believe Quimbaya is uniquely positioned at the intersection of geology, timing, and leadership. The team is aligned, the land is exceptional, and in this rising gold environment the moment is now," said Mr. Iacono. "I'm excited to support a company that understands what it takes to build a real gold story in Colombia."
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