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Providence Gold Announces Non-Brokered Private Placement of up to $1,300,000 First Tranche of $83,125 Closed
(TheNewswire) VANCOUVER - TheNewswire – December 22, 2021, Pro...
About this update from Providence Gold Mines Inc
[{"type":"text","content":"Providence Gold Announces Non-Brokered Private Placement of up to $1,300,000 First Tranche of $83,125 Closed\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n VANCOUVER -\n \n \n TheNewswire\n \n \n – December 22, 2021, Providence Gold\nMining Inc. (“Providence” or the “Company”)\n(TSXV:PHD\n \n \n )\n \n \n US\n \n \n (\n \n \n OTC:PRRVF\n \n \n )\n \n \n (\n \n \n FRANKFURT:7RH1-F)\n \n \n is pleased to announce\n \n \n further to its December 2, 2021 news release announcing a\nnon-brokered private placement unit offering (the “\n \n \n Private Placement\n \n \n ”)\nof up to 18,571,500 units of the Company at a price of\n \n \n $0.07\n \n \n per\n \n \n ordinary\n \n \n share attached with a one year\nwarrant at an exercise price of $0.15\n \n \n to\n \n \n raise\n \n \n total\n \n \n gross\n \n \n proceeds\n \n \n of\nthe issue of\n \n \n $1,300,000.\n \n \n \n \n The Company anticipates completing the offering in the\nNew Year and has closed the first tranche of $83,125 for an\naggregate\n \n \n amount\n \n \n of\n \n \n 1,187,500\n \n \n units. Certain insiders\nof the Company have already participated in the amount of 830,000\nunits under the Private Placement.\n \n \n \n \n Finders’ fees may be payable in connection with the\noffering and those qualified persons involved as finders\n \n \n will\n \n \n receive\n \n \n a\n \n \n cash\n \n \n fee\n \n \n of\n \n \n up\n \n \n to\n7%\n \n \n cash\n \n \n and\n \n \n 7%\n \n \n brokers\n \n \n warrants\n \n \n of\n \n \n the\n \n \n proceeds\n \n \n raised.\n \n \n \n \n Closing of the Private Placement is subject to all\nnecessary regulatory approvals including acceptance from the TSX\nVenture Exchange. All securities issued in connection with the Private\nPlacement will be subject to a four-month hold period from the closing\ndate under applicable Canadian securities laws, in addition to such\nother\n \n \n restrictions\n \n \n as\n \n \n may\n \n \n apply\n \n \n under\n \n \n applicable\n \n \n securities\n \n \n laws\n \n \n of\n \n \n jurisdictions\n \n \n outside\n \n \n Canada.\n \n \n \n \n The Company now plans a 4,000 meter near surface core\ndrill program designed to evaluate the significant gold potential\nbetween and beneath each of the numerous historical high-grade gold\nproducers within the Providence Grou...