Business
Providence Gold Announces Non-Brokered Private Placement of up to $600,000 First Tranche of $200,520 Closed
(TheNewswire) VANCOUVER - TheNewswire – July 08, 2021, Provi...
About this update from Providence Gold Mines Inc
[{"type":"text","content":"Providence Gold Announces Non-Brokered Private Placement of up to $600,000 First Tranche of $200,520 Closed\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n VANCOUVER -\n \n \n TheNewswire\n \n \n – July 08, 2021, Providence Gold Mining\nInc. (“Providence” or the “Company”) (TSXV:PHD)\n \n \n (OTC:PRRVF)\n \n \n (FSE:7RH1\n \n \n )\n \n \n is\n \n \n pleased to announce that further to it’s June\n29\n \n \n th\n \n \n , 2021 news release disclosing a non-brokered private\nplacement offering (the “\n \n \n Private Placement\n \n \n ”) of up to\n8,571,500\n \n \n common\n \n \n shares\n \n \n of\n \n \n the\n \n \n Company\n \n \n at\n \n \n a\n \n \n price\n \n \n of\n \n \n $0.07\n \n \n per\n \n \n common\n \n \n share\n \n \n to\n \n \n raise\n \n \n gross\n \n \n proceeds\n \n \n of\n \n \n up\n \n \n to\n \n \n $600,000,\nthe Company has now closed the first tranche in the amount of $200,520\nfor an aggregate\n \n \n amount\n \n \n of\n \n \n 2,864,571\n \n \n common\n \n \n shares.\n \n \n \n \n Certain insiders of the Company participated in the\namount of $162,020 to acquire 2,314,571 common\n \n \n shares under the Private Placement Net proceeds from the\nPrivate Placement will be primarily used towards\n \n \n advancing the Company’s Providence Gold Project located\nnearby the city of Sonora California and for general\n \n \n working\n \n \n capital\n \n \n purposes.\n \n \n \n \n The Company is planning to begin opening up three new\ndiscoveries starting the second week of July, and as\n \n \n such,\n \n \n the\n \n \n private\n \n \n placement\n \n \n will\n \n \n be\n \n \n closed\n \n \n before this\n \n \n planned\n \n \n work\n \n \n commences.\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\n6%\n \n \n cash\n \n \n and\n \n \n 6%\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\n \n \n TSX Venture Exchange. All securities issued in\nconnection with the Private Placement will be subject to a\nfour-\n \n \n mon...