Business
Provenance Gold Closes Over-Subscribed Private Placement with a Lead Order from Palisades Goldcorp to Advance its Gold and Silver Properties
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2021) - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) (the "Company") is pleased to report the closing
About this update from Provenance Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 16, 2021) - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) (the \"Company\") is pleased to report the closing of its previously announced non-brokered private placement. In connection with closing, the Company has issued 9,615,000 units (each, a \"Unit\") at a price of $0.10 per Unit for gross proceeds of $961,500 with a lead order from Palisades Goldcorp Ltd. Each Unit consists of one common share of the Issuer (each, a \"Share\") and one common share purchase warrant (each, a \"Warrant\") with each Warrant entitling the holder thereof to purchase one additional common share (each, a \"Warrant Share\") of the Issuer at a price of $0.15 per Warrant Share for a period of five (5) years from their date of issue. Mr. Rauno Perttu states, \"We are delighted to be advancing our Silver Bow gold and silver property in addition to being able to initiate work on finalizing our drilling program on our White Rock property. This should allow the Company the opportunity for more recognition by the investment community. With our optimistic outlook for 2021 and beyond including our work to limit dilution we decided to cap this private placement at over three times the original amount. We are very grateful for the support from our well-placed strategic investors.\" Proceeds of this private placement will go towards exploration advancement and general working capital. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws until June 13, 2021. In connection with the offering, the Company has paid finders' fees of $28,105 in consideration for the introduction of subscribers. About Provenance Gold Corp. Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver resources within North America. The Company currently holds interests in two properties in Nevada, USA. For further information please visit the Company's website at https://provenancegold.com or contact [email protected]. About Palisades Goldcorp Palisades Goldcorp is Canada's resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities value...