PHD:CC - Providence Extends Private Placement
(TheNewswire)
March 28, 2025 – TheNewswire - Vancouver, BC - Providence Gold Mines Inc. (“theCompany”), The Company is pleased to announcethat it has been granted an extension of its previously announcedPrivate Placement (November 20, 2024, December 6, 2024, January 16,2025 and February 14 th , 2025) until April 30,2025. As announced, aplacement of up to $1,800,000 Cdn for 36,000,000 units at $0.05 perunit is underway. Each unit will comprise of one common share and onenon-transferable warrant, exercisable into one common share of theCompany at a price of $0.09 for a period of two years from the date ofclosing.
The Company closed the first tranche of the placementon December 6, 2024, issuing 1,500,000 units for gross proceeds of$75,000 CAD. An officer of the Company participated for the fullamount of $75,000 CAD.
USE OF PROCEEDS
The funds from this placement will be used forevaluation of the new gold surface discovery reported for reference onMay 6,2024 and for a significant drilling program of up to 2500mdesigned to target the historical McCarthy and Mexican shafts and aswell as an area north of the Mexican shaft where significantground preparation provides a favorable structural setting forhanging wall splay veins analogous to the historical ”Bonanza” stope at the Providencemine alone produced 50,000 ounces. Ron Coombes states, “explorationefforts have modelled potential for several robust goldtargets”.
All securities issued will be subject to a hold periodof four months and one day from the closing date of the privateplacement, in accordance with applicable Canadian securities laws.
Qualified Person
Lee Groat Ph.D., P. Geo, a geologist and qualifiedperson (as defined under NI 43-101) has read and approved of thetechnical information contained in this news release.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
“RonaldCoombes”
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Ronald Coombes
Mobile: 1- 604- 724-2369
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