- Probe Gold (PRB) has closed its previously announced bought deal private placement for gross proceeds of $15,000,076
- Probe reported that with the conclusion of the offering, the company now has approximately $34 million in treasury
- The company plans to use the proceeds to fund exploration and drilling at the Novador Gold project and the Detour Gold project in Québec
- Probe Gold is a Canadian gold exploration company
- Probe Gold Inc. (PRB) opened trading at C$1.53 per share
Probe Gold (PRB) has closed its previously announced bought deal private placement for gross proceeds of $15,000,076.
The company issued 7,389,200 common shares that qualify as “flow-through shares” at $2.03 per FT share.
The company plans to use the proceeds to fund exploration and drilling at the Novador Gold project and Detour Gold project in Québec.
David Palmer, President and CEO of Probe, commented on the news.
“We are very pleased with the strong level of support for the offering. By utilizing the substantial flow-through premium for Quebec projects, we can not only continue our 2023 exploration programs, while minimizing dilution to our shareholders, but actually expand these programs to accelerate growth and unlock additional value.”
“Our focus this year will be on expanding our five million-plus ounce resource and testing brand new gold exploration targets at Novador in Val-d’Or. Also, exploring the vast regional potential of our Detour project, including our new copper discovery at La Peltrie, the extension of the gold structure hosting Agnico’s Zone 58 and new targets identified in our regional work.”
Probe reported that with the conclusion of the offering, the company now has approximately $34 million in treasury. It can use it to carry out exploration initiatives and concurrently advance the Novador project.
The offering was completed through a syndicate of underwriters. The completion of the offering is subject to the receipt of all regulatory approvals.
All securities issued will be subject to a statutory hold period of four months.
About Probe Gold
Probe Gold is a Canadian gold exploration company. It focuses on the acquisition, exploration, and development of highly prospective gold properties.
Probe Gold Inc. (PRB) opened trading at C$1.53 per share.