PROBF - Probe Gold Completes Previously Announced Bought Deal Private Placement of $10 Million | Benzinga
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TORONTO, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Probe Gold Inc. (TSX:PRB) (OTCQB:PROBF) ("Probe" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement (pursuant to the listed issuer financing exemption ("LIFE")), for aggregate gross proceeds of approximately C$10 million (the "Offering"). The Offering was comprised of 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.
David Palmer, President and CEO of Probe, states: "We are delighted with the robust support received for the Offering. By leveraging the significant flow-through premium for Québec projects, we not only sustain our 2024 exploration programs with minimal shareholder dilution but also have the opportunity to expand these initiatives, accelerating growth and unlocking additional value. In 2024, our focus will be on expanding our resources, exploring new gold targets and advancing development studies at Novador in Val-d'Or. We are also continuing exploration efforts on our district-scale land package at Detour, including the recent copper discovery at La Peltrie and numerous regional gold targets. With the successful completion of the Offering, we now have approximately $25 million in treasury to drive these exploration endeavors and advance development at Novador. We're excited about the prospects that 2024 brings and want to thank all our shareholders for their support as we work towards building one of Canada's top-tier gold projects."
The Flow-Through Common Shares were issued and sold pursuant to the LIFE, available under Part 5A of National Instrument 45-106 – Prospectus Exemptions. English and French copies of the offering document under the LIFE dated December 12, 2023 (the "Offering Document") are available electronically on SEDAR+ (www.sedarplus.ca) ...