Now the transaction is complete: The Canadian Quimbaya Gold (CSE QIM / Frankfurt K05), which is about to start drilling on the Tahami South gold project in Colombia, has successfully completed a financing of approximately $4 million gross. The special thing about it: Originally only $2 million were planned, but a single strategic investor group, absolutely wanted to invest on a larger scale!
In total, Quimbaya has now issued 11,525,299 units at CAD 0.35 per unit, raising gross proceeds of $4,033,854. A unit consists of one common share and one warrant, which allows the subscriber to purchase another common share over a period of 36 months at CAD 0.60 per share.
As mentioned, according to the company, an investor group with a long-term outlook and a long track record of supporting exploration and development projects in South America encouraged the expansion of the financing. Which CEO Alexandre Boivin considers a strong confirmation for the Quimbaya team, its strategy and the pipeline of promising projects in the Antioquia district of Colombia.
Colombian Mining Legend Already Invested in Quimbaya Gold
As we reported earlier, at the beginning of this financing round, the Colombian mining legend Serafino Inacono had already invested CAD 500,000 in Quimbaya alone. Among other things, as co-founder of Gran Columbia Gold – now Aris Mining (MarketCap CAD 1.61 billion) – he played a key role in reviving and advancing the mining sector in Colombia.
And Aris’ high-grade, producing Segovia mine is in the immediate vicinity of the company’s Tahami South project. At the surface, Quimbaya has already shown that ore veins from the Segovia area extend to its own project site. The company now hopes to confirm this – freshly financed – with drilling.
Quimbaya CEO Boivin explained: “With this capital increase, we are now well-funded until 2026. These funds will enable us to deepen our work on the Tahami South project while expanding our activities across the portfolio. We are committed to intelligent, disciplined implementation and feel very encouraged by the great confidence placed in us.”
As Mr. Boivin explains, the fresh capital will be used for the company’s exploration programs, which includes drilling at Tahami South. In addition, however, the company also wants to take a closer look at already identified regional copper and gold targets.
Now that the financing is complete, we hope that the first drilling can start soon. The tension has already risen noticeably!
