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Probe Metals Completes Private Placement for $ 20 Million Purchase Transaction, Canadian Business Journal

This news release is not intended to be distributed to US news agencies for dissemination in the United States.

Toronto, March 8, 2022 (GLOBE NEWSWIRE) — Probe Metals Inc. (TSX-V: PRB) ((((“”Survey” or “society). Total income of $ 20,770,000 (“Recruitment“).

The offering consisted of our 6.7 million flow-through units (Flow-through unit”) At a price of $ 3.10 per flow-through unit. Each flow-through unit consists of one share of the Company’s common stock issued as “flow-through shares” and half of one share of the Company’s common stock purchase warrant (the entire common stock purchase warrant, “”warrant“). Each warrant gives its holders the right to acquire one share of the Company’s common stock at a price of $ 2.40 per share for 24 months from the end of the offering.

David Palmer, President and Chief Executive Officer of Probe, said: With a large flow-through premium for the Quebec project, you can continue your aggressive 2022 exploration program while reducing shareholder dilution. This year’s program further extends the success achieved in 2021 and further advances the Val-d’Or East project towards development, leveraging exploration on both the Val-d’Or and detours. With the end of the offering, we currently have approximately $ 50 million in finance to complete these exploration initiatives. We look forward to 2022 and thank our shareholders for their support in building one of Canada’s leading gold projects. ”

The total proceeds from the offering will be used to fund the exploration of the probe project in Quebec. This offering is led by Canaccord Genuity Corp., Sprott Private Partners, CIBC Capital Markets, BMO Capital Markets, iA Private Wealth, Research Capital Corporation, Laurentian Bank Securities (collectively, “Underwriter“). Considering their service, the underwriter received a cash fee equal to 6% of the total income of the offering. Completion of the offering is subject to the approval of all regulatory agencies, including the final approval of the TSX Venture Exchange. All securities that can be issued and issued in accordance with the offering are subject to a holding period of 4 months and 1 day from closing.

About probe metal:
Probe Metals Inc. is Canada’s leading gold exploration company focused on the acquisition, exploration and development of promising gold assets. We are committed to discovering and developing high quality gold projects, including our key asset, the multi-million ounce Val-d’Or East Gold project in Quebec. We are well-funded and manage a strategic land package for an exploration site of approximately 1,500 square kilometers in some of Quebec’s most prolific gold areas. The company was founded as a result of the $ 526 million sale of Probe Mines Limited to Goldcorp. Eldorado Gold Corporation currently owns about 10.4% of the company.

On behalf of Probe Metals Inc.

Dr. David Palmer,
President and Chief Executive Officer

For more information:

Please visit our website at www.probemetals.com or contact us at:

Sea machine crocodile
Investor Relations Director
info@probemetals.com
+1.416.777.9467

Description of future prospects

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release. This news release contains certain “forward-looking statements” that do not consist of historical facts. Forward-looking statements include estimates and statements that describe our future plans, objectives, or goals, including words to the effect that we or management expect the stated conditions or results to occur. increase. Forward-looking statements include “believe,” “expect,” “expect,” “estimate,” “may,” “can,” “do,” “do,” and “plan.” Can be identified by term. Forward-looking statements are hypothetical and, by their nature, carry inherent risks and uncertainties in dealing with future events and circumstances. While these statements are based on information currently available to us, we do not guarantee that actual results will meet management expectations. Risks, uncertainties, and other factors associated with forward-looking information shall represent or imply actual events, results, performance, prospects, and opportunities with such forward-looking information. It can be very different. Information about the future outlook for this news release includes, but is not limited to: Expected spending of offering revenue, and company objectives, goals, or future plans. Factors that may cause actual results to differ materially from such forward-looking information include, but are not limited to: Specific failure of mineral resources; unable to convert estimated mineral resources into reserves. Delayed or failed to obtain approval for required regulations, government, environment, or other projects. Political risk; Expected results of preliminary economic assessment of the Val-d’Or East project. This includes future project opportunities, future operational and capital costs, closure costs, AISC, projected NPV, IRR, timeline, permit timeline, and acquisition capabilities. Val-d’Or East project required permits, economics and related revenues, Val-d’Or East project technical feasibility, gold market and future prices and demands, Val-d environment. Impact’or the East project, and the ongoing ability to work with stakeholders, including local governments. Unable to fulfill their obligations to deal with indigenous peoples and other indigenous peoples. Uncertainty regarding the availability and cost of future funding. Stock market changes, inflation, exchange rate changes, commodity price fluctuations. Project development delays, capital and operating costs are significantly different from estimates. COVID-19’s impact on a company’s business cannot be predicted or counteracted, including but not limited to the impact of COVID-19 on commodity prices, capital market conditions, workforce restrictions, international travel and supply chains. .. Other risks associated with the mineral exploration and development industry, and the risks described in our public documents submitted to SEDAR. We believe that the assumptions and factors used in the preparation of information regarding the future outlook for this news release are reasonable, but are excessive for such information that applies only as of the date of this news release. You shouldn’t trust and can’t guarantee. It is assumed that such an event will not occur within the disclosed time frame or at all. We disclaim any intention or obligation to update or revise future outlook information as a result of new information, future events, etc., except as required by law.

This news release does not constitute an offer to sell or solicit a purchase offer, nor does it include the sale of securities in jurisdictions where such offer, solicitation, or sale is illegal. United States of America. Securities have not been and will not be registered under the US Securities Act of 1933 (the “1933 Act”) or the State Securities Act. It may not be offered or sold in the United States, in the United States, or for accounts. Alternatively, the interests of Americans (as defined in Regulation S of the Securities Act of 1933), or exemptions from such registration requirements, are available unless registered under the Securities Act of 1933 and the applicable State Securities Act. Is possible.


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Probe Metals Completes Private Placement for $ 20 Million Purchase Transaction, Canadian Business Journal

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