SANTO DOMINGO, Dominican Republic, April 29, 2025 /CNW/ - Guess Investments Ltd. (the "Acquiror") announces that on March 31, 2025, it entered into a private agreement (the "Agreement") with a shareholder of GoldQuest Mining Corp. (the "Issuer") pursuant to which it was deemed to acquire 7,458,365 common shares ("Common Shares") of the Issuer, representing 2.44% of the issued and outstanding Common Shares, at a price of US$0.141215 per share for aggregate consideration of approximately US$1,053,236(C$0.20 per share and C$1,514,133 in total based on the Bank of Canada average daily exchange rate on March 31, 2025 of US$1.00 = C$1.4376) (the "Share Acquisition").
Pursuant to the Agreement, the Acquiror was obligated to deliver the aggregate purchase price for the Acquired Shares to the seller within 30 days of the date of the Agreement, failing which the seller may terminate the Agreement. Upon delivery of such aggregate purchase price, the seller has agreed to transfer the Acquired Shares to the Acquiror. The Share Acquisition was completed on April 28, 2025.
Immediately prior to entering into the Agreement, the Acquiror beneficially owned and controlled 23,391,976 Common Shares, representing approximately 7.66% of the issued and outstanding Common Shares. Immediately after entering into the Agreement, the Acquiror had deemed and actual beneficial ownership of 30,850,341 Common Shares, representing approximately 10.11% of the issued and outstanding Common Shares, of which it had ownership and control of 23,391,976 Common Shares, and ownership but not control of 7,458,365 Common Shares. Upon completion of the Share Acquisition, the Acquiror acquired control of such 7,458,365 Common Shares.
The Common Shares were acquired for investment purposes. The Acquiror may, from time to time, acquire additional securities of the Issuer and/or dispose of such securities as the Acquiror deems appropriate. The Acquiror currently has no immediate plans or intentions to acquire or dispose of securities of the Issuer, but depending on market conditions, general economic and industry conditions, trading prices of the Common Shares, the Issuer's business, financial condition or prospects, and/or other relevant factors, the Acquiror may develop such plans or intentions in the future.
The Issuer's address and head office is 1133 Melville Street, Suite 3500, The Stack, Vancouver BC V6E 4E5. The Acquiror's principal business is investments. It is incorporated under the laws of the Federation of Saint Christopher and Nevis, and its address is Gustavo Mejia Ricart #69 Torre Washington Suite 7a, Ensanche Piantini, Santo Domingo, Dominican Republic.
This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the corresponding early warning report will be filed and made available under GoldQuest's profile on SEDAR+ at www.sedarplus.ca.
SOURCE Guess Investments Ltd.
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