PROBF - Probe Gold Announces C$10 Million Bought Deal Financing | Benzinga
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TORONTO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Probe Gold Inc. (TSX:PRB) (OTCQB:PROBF) ("Probe" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of private placement (pursuant to the listed issuer financing exemption ("LIFE")), 4,545,400 Canadian Exploration Expense ("CEE") flow-through common shares (the "Flow-Through Common Shares") of the Company, at a price of C$2.20 per Flow-Through Common Share for gross proceeds of approximately C$10 million (the "Offering").
The Company intends to use the net proceeds of the Offering to continue exploration and drilling at its Novador Gold project and Detour Gold project.
The Offering is expected to close on or about December 22, 2023 and is subject to Probe receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Probe Gold:
Probe Gold Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is well-funded and dedicated ...