Great Quest Gold Ltd. has secured an extension from the TSX Venture Exchange for its non-brokered private placement, pushing the deadline for final approval of the last tranche to August 29, 2025.
The company closed the first tranche on July 14, issuing 11,560,000 common shares at $0.025 each for gross proceeds of $289,000.
The full offering targets up to 20,000,000 shares under the same pricing, with all issued shares carrying a four-month and one-day hold period.
Proceeds will be directed toward costs linked to Great Quest’s planned reverse takeover of Lotus Gold Corporation and for general working capital.
The final tranche is expected to close on or around August 22, 2025.
Great Quest is a Canadian mineral explorer with gold and lithium interests in Namibia, Morocco, and Mali.
Its flagship Damara Gold Project in Namibia spans over 300,000 hectares across the Khorixas, Omatjete, and Outjo areas, with Khorixas yielding high-grade samples up to 49.9 g/t gold.
The company also holds the Sanoukou Gold Project in Mali’s Kayes region and trades on the TSX Venture Exchange under the symbol GQ.
