Quimbaya Gold Inc. announced a non-brokered private placement of 2,222,222 common shares at an issue price of CAD 0.45 per common share for the aggregate gross proceeds of up to CAD 1,000,000 on July 7, 2023. The transaction is expected to occur on or about July 17, 2023. The Common Shares will have a hold period of four months and one day from the date of issue.

The completion of the Offering will be subject to Canadian Securities Exchange acceptance. The Finder's Fee shall consist of a payment of no more than 8% of the gross proceeds of the Offering. Depending on market conditions and the receipt of regulatory approvals, the Company reserves the right to increase the maximum aggregate gross proceeds under the Offering to an amount greater than CAD 1,000,000.