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TORONTO, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Belo Sun Mining Corp. ("Belo Sun" or "Company") ((TSX: BSX, OTCQB:BSXGF) is pleased to announce that it has closed its non-brokered private placement financing for gross proceeds of US$30 million (C$41.3 million) (the "Private Placement"), as previously announced on December 22, 2025.

Pursuant to the closing of the Private Placement, the Company issued a total of 96,146,512 common shares of the Company ("Common Shares") at a price of C$0.43 per Common Share. La Mancha Investments S. à r. l. ("La Mancha") (a subsidiary of La Mancha Resource Fund SCSp), subscribed for 50,587,226 Common Shares, and as a result, is now a Control Person (as defined below) of the Company.

The use of proceeds will be for working capital and for other general corporate purposes, including existing commitments to local communities and stakeholders associated with the Volta Grande Project. All Common Shares issued in connection with the Private Placement are subject to a statutory hold period until June 25, 2026.

None of the securities issued in the Private Placement were registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold ...