(TheNewswire)
VANCOUVER - TheNewswire – June 29, 2021, Providence Gold MiningInc. (“Providence” or the “Company”) (TSXV:P HD ) (OTC:PRRVF) is pleased to announce a non-brokered private placementoffering (the “ PrivatePlacement ”) of up to 8,571,500 common sharesof the Company at a price of $0.07 per common share to raise grossproceeds of up to $600,000. The Company is pleased to announce it isclosing the first tranche in the amount of $200,000 for an aggregateamount of 2,857,143 common shares.
Certain insiders of the Company are participating inthe amount of $162,000 to acquire 2,314,286 common shares under thePrivate Placement Net proceeds from the Private Placement will beprimarily used towards advancing the Company’s Providence GoldProject located nearby the city of Sonora California and for generalworking capital purposes.
The Company is planning to begin opening up three newdiscoveries starting the second week of July, and as such, theprivate placement will be closed before this planned workcommences.
Finders’ fees may be payable in connection with theOffering and those qualified persons involved as finders will receivea cash fee of up to 6% cash and 6% brokers warrants of the proceedsraised.
Closing of the Private Placement is subject to allnecessary regulatory approvals including acceptance from the TSXVenture Exchange. All securities issued in connection with the PrivatePlacement will be subject to a four-month hold period from the closingdate under applicable Canadian securities laws, in addition to suchother restrictions as may apply under applicable securities laws ofjurisdictions outside Canada.
About Providence Gold MinesInc.
Providence Gold Mining Inc. is an advanced-stage goldmine exploration and development company holding an option to purchase100% interest in the Providence Group of Gold mines near the City ofSonora California.
For more information, please contact Ronald Coombes,President and CEO of the Company.
Click HERE ToWatch "Drilling at the Providence Gold stockpile”Video
ON BEHALF OF THE BOARD
"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 INFORMATI
All statements, trendanalysis and other information contained in this press releaserelative to markets about anticipated future events or resultsconstitute forward-looking statements. All statements, other thanstatements of historical fact, included herein, including, withoutlimitation, statements relating to the permitting process, futureproduction of Providence Gold Mines, budget and timing estimates, theCompany’s working capital and financing opportunities and statementsregarding the exploration and mineralization potential of theCompany’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks anduncertainties and other factors that could cause actual results ofoperations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual resultsto differ materially from Providence Gold Mines expectations includefluctuations in commodity prices and currency exchange rates;uncertainties relating to interpretation of drill results and thegeology, continuity and grade of mineral deposits; the need forcooperation of government agencies and native groups in theexploration and development of properties and the issuance of requiredpermits; the need to obtain additional financing to develop propertiesand uncertainty as to the availability and terms of future financing;the possibility of delay in 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 ofmanagement at the date the statements are made. Providence Gold Minesdoes not undertake any obligation to update forward-looking statementsexcept as required by applicable securities laws. Investors should notplace 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 theadequacy or accuracy of this releas
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