(TheNewswire)
VANCOUVER - TheNewswire – July 08, 2021, Providence Gold MiningInc. (“Providence” or the “Company”) (TSXV:PHD) (OTC:PRRVF) (FSE:7RH1 ) is pleased to announce that further to it’s June29 th , 2021 news release disclosing a non-brokered privateplacement offering (the “ Private Placement ”) of up to8,571,500 common shares of the Company at a price of $0.07 per common share to raise gross proceeds of up to $600,000,the Company has now closed the first tranche in the amount of $200,520for an aggregate amount of 2,864,571 common shares.
Certain insiders of the Company participated in theamount of $162,020 to acquire 2,314,571 common shares under the Private Placement Net proceeds from thePrivate Placement will be primarily used towards advancing the Company’s Providence Gold Project locatednearby the city of Sonora California and for general working capital purposes.
The Company is planning to begin opening up three newdiscoveries starting the second week of July, and as such, the private placement will be closed before this planned work commences.
Finders’ fees may be payable in connection with theOffering and those qualified persons involved as finders will receive a cash fee of up to6% cash and 6% brokers warrants of the proceeds raised.
Closing of the Private Placement is subject to allnecessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued inconnection with the Private Placement will be subject to afour- month hold period from the closing dateunder applicable Canadian securities laws, in addition to suchother restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
About Providence Gold Mines Inc.
Providence Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding an option to purchase 100% interest in the Providence Group of Gold mines near the City of Sonora California.
For more information, please contact Ronald Coombes, President and CEO of the Company. Click HERE To Watch "Drilling at the Providence Gold stockpile” Video
"Ronald Coombes"
Ronald A. Coombes, President & CEO Office: (604) 688-8200
Email: info@providencegold.com
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On behalf of Providence Gold Mining Inc.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
All statements, trend analysis and other informationcontained in this press release relative to markets about anticipatedfuture events or results constituteforward-looking statements. All statements, other than statements ofhistorical fact, included herein, including, without limitation, statements relating to the permittingprocess, future production of Providence Gold Mines, budget andtiming estimates, the Company’s workingcapital and financing opportunities and statements regarding theexploration and mineralization potential of theCompany’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Important factors thatcould cause actual results to differ materially from Providence GoldMines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results andthe geology, continuity and grade of mineral deposits; the need forcooperation of government agencies and native groups in the exploration and development of properties and theissuance of required permits; the need to obtain additional financingto develop properties and uncertainty as to theavailability and terms of future financing; the possibility of delayin exploration or development programs anduncertainty of meeting anticipated program milestones; and uncertaintyas to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Providence GoldMines does not undertake any obligation to update forward-lookingstatements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this releas
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