Saturday, June 21, 2025

Probe Metals To Raise $9.3 Million Via Quebec Institutional Funds

Probe Metals (TSXV: PRB) is the latest junior firm to hit the markets looking for cash. The company this morning indicated it is looking to conduct a non-brokered private placement, for which it has reportedly received initial commitments from certain funds within Quebec.

The financing will see the company look to raise gross proceeds of up to $9.3 million via the sale of units. A total of 5.3 million units are expected to be sold at a price of $1.75 per each.

Units are to consist of one common share and one half of a common share purchase warrant. Warrants are valid for a period of two years from the date of closing, and contain an exercise price of $2.40 per each.

Proceeds from the financing are to be used for the further exploration and development of the firms Quebec-based assets.

The financing follows a $20.0 million bought deal completed in March, wherein the company sold flow through units at a price of $3.10 per each. Notably, that financing also saw warrants issued under similar terms to the warrants to be issued under the current non-brokered financing.

It was not stated specifically which funds were to participate in the financing.

Probe Metals last traded at $1.81 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Gold’s Wild Bull Run: Are Markets About to Break? | Mike McGlone

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Caldas Gold Announces US$90 Million Gold-Linked Senior Secured Note Offering

Caldas Gold (TSXV: CGC) this morning announced the terms for its private placement offering, which...

Monday, August 24, 2020, 08:58:10 AM

Caldas Gold Completes Transition To Aris Gold

Caldas Gold (TSXV: CGC) has completed its previously announced transition to that of Aris Gold....

Thursday, February 4, 2021, 08:37:50 AM

Sprotting a Winner: A Deep Dive Guide To Junior Gold Stocks

Monday’s market mover was Spanish Mountain Gold (TSXV: SPA), an uncomplicated company that affords us...

Thursday, July 23, 2020, 08:32:49 AM

Foreign Countries Reducing US Treasuries, Opt for Gold Reserves

As the vast majority of the global economy was shut down in response to the...

Tuesday, June 16, 2020, 05:47:00 PM

Trillium Gold Begins Drill Testing Refined Structural Model At Newman Todd

Trillium Gold Mines (TSXV: TGM) has updated its structural model for its flagship Newman Todd...

Tuesday, February 23, 2021, 07:52:58 AM