Business
Providence Extends Private Placement
(TheNewswire) March 28, 2025 – TheNewswire - Vancouver, BC - Provid...
About this update from Providence Gold Mines Inc
[{"type":"text","content":"Providence Extends Private Placement \n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n March 28, 2025 –\n \n\n TheNewswire -\n \n\n Vancouver, BC -\n \n\n Providence Gold Mines Inc. (“the\nCompany”),\n \n\n The Company is pleased to announce\nthat it has been granted an extension of its previously announced\nPrivate Placement (November 20, 2024, December 6, 2024, January 16,\n2025 and February 14\n \n\n th\n \n\n , 2025) until April 30,2025. As announced, a\nplacement of up to $1,800,000 Cdn for 36,000,000 units at $0.05 per\nunit is underway. Each unit will comprise of one common share and one\nnon-transferable warrant, exercisable into one common share of the\nCompany at a price of $0.09 for a period of two years from the date of\nclosing.\n \n\n\n\n The Company closed the first tranche of the placement\non December 6, 2024, issuing 1,500,000 units for gross proceeds of\n$75,000 CAD. An officer of the Company participated for the full\namount of $75,000 CAD.\n \n\n\n\n USE OF PROCEEDS\n \n\n\n\n The funds from this placement will be used for\nevaluation of the new gold surface discovery reported for reference on\nMay 6,2024 and for a significant drilling program of up to 2500m\ndesigned to target the historical McCarthy and Mexican shafts  and as\nwell as an area north of  the Mexican  shaft where  significant\nground preparation  provides a favorable structural setting for\nhanging wall splay veins analogous to the historical\n \n\n ”Bonanza” stope  at the Providence\nmine alone produced 50,000 ounces. Ron Coombes states, “exploration\nefforts have modelled potential for several robust gold\ntargets”.\n \n\n\n\n All securities issued will be subject to a hold period\nof four months and one day from the closing date of the private\nplacement, in accordance with applicable Canadian securities laws.\n \n\n\n\n Qualified Person\n \n\n\n\n Lee Groat Ph.D., P. Geo, a geologist and qualified\nperson (as defined under NI 43-101) has read and approved of the\ntechnical information contained in this news release.\n \n\n\n\n Neither the TSX\nVenture Exchange nor its Regulation Services Provider (as that term is\ndefined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or a...