Probe Gold (TSX: PRB; OTCQB: PROBF) has closed its private placement for gross proceeds of $15 million. The offering was comprised of over 7.3 million common shares of the company, at a price of $2.03 per share.
The company plans to use the gross proceeds from the offering to fund testing and expanding gold exploration targets at Novador in Val d’Or, Que., exploring the vast regional potential the Detour project, including the new copper discovery at La Peltrie, the extension of the gold structure hosting Agnico Eagle Mines' Zone 58 and new targets.
“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,” said David Palmer, president and CEO of Probe.
“With the successful conclusion of the offering, we now have approximately $34 million in treasury to carry out these exploration initiatives and concurrently advance the Novador project.” Palmer said.
For more information, visit www.ProbeGold.com.