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Providence Gold Mines Inc. Announces Extension of Private Placement
(TheNewswire) Providence Gold Mines Inc. (the “Company”) an...
About this update from Providence Gold Mines Inc
[{"type":"text","content":" Providence Gold Mines Inc. Announces Extension of 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\n\n\n\n\n\n\n Providence Gold Mines\nInc. (the “Company”)\n \n\n\n announces that\nit has received an extension from the TSX Venture Exchange\n(“TSX-V”) with respect to the duration of its previously announced\nprivate placement (the “Private Placement”) (please see the\nCompany’s press releases dated January 16, 2025 November 20, 2024\nand December 6, 2024).   The outside date upon which final acceptance\nof the Private Placement will be granted by the TSX-V has been\nextended until March 12, 2025..  While the Company has closed a first\ntranche of the private placement it applied for an extension to\nFebruary 13, 2025.\n \n\n\n\n As previously announced the\n \n\n private placement of up to $1,700,000 Cdn for 34,000,000 units at\n$0.05 per unit. 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 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 first stope at surface alone produced 50,000 ounces. Ron Coombes\nstates, “exploration efforts have modelled potential for robust\nsignificant high grade gold targets”.\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 it...