Probe Gold Secures $30 Million for Expansion and Exploration

Probe Metals ( (TSE:PRB) ) has issued an announcement.

Probe Gold Inc. has announced a $30 million bought deal private placement agreement with a syndicate of underwriters, including Canaccord Genuity Corp., Beacon Securities Limited, and Scotiabank. The proceeds from this offering will be used to advance the Novador Gold project and explore other properties in Québec, with the expectation of closing the deal by April 9, 2025, subject to regulatory approvals. This strategic move is poised to enhance Probe Gold’s exploration capabilities and strengthen its position in the Canadian gold mining industry.

More about Probe Metals

Probe Gold Inc. is a leading Canadian company focused on the acquisition, exploration, and development of highly prospective gold properties. The company is well-funded and dedicated to exploring and developing high-quality gold projects, notably owning 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Québec, as well as an early-stage Detour Gold Québec project. Probe controls a large land package of approximately 1835-square-kilometres of exploration ground within some of the most prolific gold belts in Québec.

YTD Price Performance: 16.18%

Average Trading Volume: 131,365

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$364.5M

For detailed information about PRB stock, go to TipRanks’ Stock Analysis page.