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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

Stone Gold Closes $500,000 Flow Through Financing

Stone Gold Inc (TSXV: STG) has closed a non-brokered private placement. The financing, which was...

Thursday, December 31, 2020, 08:26:28 AM

Bad News, Gold Bugs! Jim Cramer Thinks It’s “The Perfect Time” To Buy Gold

Jim Cramer, the energetic host of CNBC’s Mad Money, declared on Wednesday that it’s the...

Monday, August 8, 2022, 03:04:00 PM

New Found Gold Hits 124.4 G/T Gold Over 17.7 Metres

New Found Gold (TSXV: NFG) continues to intersect bonanza grade gold at the Keats Zone...

Tuesday, May 4, 2021, 07:46:39 AM

Novo Resources Looks To Raise $22 Million Via Special Warrants

Novo Resources (TSX: NVO) is the latest firm to announce a financing this morning. The...

Wednesday, April 14, 2021, 08:49:40 AM

Xander Acquires Additional Claims At Senneville Property In Val-d’Or Gold Camp

Xander Resources (TSXV: XND) this morning announced the acquisition of the Senneville West Property, which...

Tuesday, June 2, 2020, 11:59:28 AM