Providence Gold Mines Inc. Announces Extension of Private Placement

(TheNewswire)

January 16, 2025 TheNewswire - (TSX-V: PHD) ( OTC: PRRVF ) Providence Gold Mines Inc. (the "Company") announces that it has received an extension from the TSX Venture Exchange ("TSX-V") with respect to the duration of its previously announced private placement (the "Private Placement") (please see the Company's press releases dated November 20, 2024 and December 6, 2024). The outside date upon which final acceptance of the Private Placement will be granted by the TSX-V has been extended by 30 days. While the Company has closed a first tranche of the private placement it applied for an extension to January 28, 2025.

As previously announced the private placement of up to $1,700,000 Cdn for 34,000,000 units at $0.05 per unit. Each unit will comprise of one common share and one non-transferable warrant, exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing.

The funds from this placement will be used for evaluation of the new gold surface discovery reported for reference on May 6,2024 and for a significant drilling program of up to 2500m designed to target the historical McCarthy and Mexican shafts and as well as an area north of the Mexican shaft where significant ground preparation provides a favorable structural setting for hanging wall splay veins analogous to the historical "Bonanza" stope at the Providence mine first stope at surface alone produced 50,000 ounces. Ron Coombes states, "exploration efforts have modelled potential for robust significant high grade gold targets".

All securities issued will be subject to a hold period of four months and one day from the closing date of the private placement, in accordance with applicable Canadian securities laws.

Qualified Person

Lee Groat Ph.D., P. Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved of the technical information contained in this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release

ON BEHALF OF THE BOARD

"Ronald Coombes"

Ronald Coombes, President & CEO

News Provided by TheNewsWire via QuoteMedia

phd:cc tsxv:phd gold investing

PHD:CC

Providence Gold Mines Inc. Receives Regulatory Approvals for Fundamental Transaction & The La Dama de Oro Gold Property NI 43-101 Report

(TheNewswire) VANCOUVER October 22, 2025 TheNewswire - Providence Gold Mines Inc. ("Providence" or the "Company") is very pleased to announce that the Company has received TSXV Regulatory conditional approval for its Fundamental La Dama de Oro Reviewable Transaction, the La Dama de Oro NI 43 101... Keep Reading...

Golden baseball with red stitches on a shiny gold background.

Gold’s Long Game: New Orleans Panelists See More Upside Ahead

During the Mining Share Panel at the New Orleans Investment Conference, participants underscored that the gold bull market will continue — however, just where we are in that bull run was up for debate. For conference host and Gold Newsletter editor Brien Lundin, there is still some way to go.... Keep Reading...

Providence Gold Mines Inc. Announces Extension of Private Placement

Providence Gold Mines Investor Kit

GET YOUR FREE INVESTOR KIT