Dr. David Palmer reports
PROBE GOLD ANNOUNCES C$10 MILLION BOUGHT DEAL FINANCING
Probe Gold Inc. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of private placement (pursuant to the listed issuer financing exemption (LIFE)), 4,545,400 Canadian exploration expense (CEE) flow-through common shares of the company, at a price of $2.20 per flow-through common share for gross proceeds of approximately $10-million.
The company intends to use the net proceeds of the offering to continue exploration and drilling at its Novador gold project and Detour gold project.
The offering is expected to close on or about Dec. 22, 2023, and is subject to Probe receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
About Probe Gold Inc.
Probe Gold is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The company is well financed and dedicated to the exploration and development of high-quality gold projects, notably its 100-per-cent-owned flagship asset, the multimillion-ounce Novador gold project in Quebec. Probe Gold controls a large land package of approximately 1,600 square kilometres of exploration ground within some of the most prolific gold belts in Quebec.
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