PROBF - Probe Metals to raise C$15M in bought deal private placement

Probe Metals (OTCQB:PROBF) has entered into C$15M bought deal financing with the syndicate of underwriters led by Canaccord Genuity. Total of 4.84M flow-through units are offered at the price of C$3.10 each. In addition, the underwriters have been granted an overallotment option to purchase up to an additional 726K units. To note, each unit will comprise of 1 common share and 0.5 of share purchase warrant, the whole of which exercisable at C$2.40 per share. The company said gross proceeds of the offering will be used to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" and exploration in Quebec before the end of this year. Closing of the transaction is expected on March 8, 2022. Press Release

For further details see:

Probe Metals to raise C$15M in bought deal private placement