Monarch Mining to sell Croinor property to Probe Gold for $4.5M

MONARCH MINING CORPORATION (GBARF) announces that it has entered into an agreement to sell its 100% interest in the Croinor gold property to Probe Gold (PROBF) for $4.5M in cash and common shares of Probe. More precisely, to acquire the 100% interest in the Property, Probe will: Make a cash payment of $2,000,000 to Monarch at the closing of the transaction; and Issue a value of $2,500,000 in common shares of Probe, based on a 10-day volume weighted average price. The transaction is expected to close in the coming weeks and is subject to usual approvals, including regulatory approval.