Providence Gold Mines Inc. Announces Extension of Private Placement

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

Copyright (c) 2025 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

PHD:CC
Providence Gold Mines

Providence Gold Mines Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Providence Gold Mines (TSXV:PHD)

Providence Gold Mines

Unlocking untapped, high-grade gold deposits in the historic Mother Lode Gold Belt in California

Unlocking untapped, high-grade gold deposits in the historic Mother Lode Gold Belt in California Keep Reading...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Vertex Minerals Shines on Gold Mine Update

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.Companies focused on gold, copper and rare earths landed in the top five this week, with gold miner Vertex Minerals taking the top spot.Read on to discover this week's top gaining Australian... Keep Reading...
iMetal Resources Confirms Private Placement Is Fully Subscribed

iMetal Resources Confirms Private Placement Is Fully Subscribed

iMetal Resources, Inc. (TSXV: IMR,OTC:IMRFF) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") confirms that its previously announced non-brokered private placement (the "Offering") is now fully subscribed. The Offering consists of 30,000,000 Units (each, a "Unit"), at a price of $0.10 per... Keep Reading...
McFarlane Lake Announces Proposed Strategic Investment in iMetal Resources, Inc.

McFarlane Lake Announces Proposed Strategic Investment in iMetal Resources, Inc.

McFarlane Lake Mining Limited ("McFarlane" or the "Company") (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with iMetal Resources, Inc. (TSXV: IMR,OTC:IMRFF, OTC: IMRFF, FRA: A7VA) ("iMetal"), a... Keep Reading...
Gold bars with financial chart overlay, showcasing market trends.

Gold Producers Offset Price Decline With Strong Q2 Output

Top gold producers have maintained stable balance sheets in Q2 despite gold prices dropping nearly 15 percent in the second quarter of 2026.Following an early April peak of US$4,840 per ounce, the yellow metal entered a steep decline. Bullion broke below the US$4,000 support level in late June,... Keep Reading...
Corazon Mining (ASX:CZN)

Corazon Extends Footprint AcrossChalice Greenstone Belt

Corazon Mining Limited (ASX: CZN) (‘Corazon’ or ‘Company’) is pleased to announce it has entered into a binding Heads of Agreement (“Agreement”) with Dynamic Metals Limited (ASX: DYM) (“Dynamic Metals” or the “Vendor”) to secure tenure and gold rights immediately along strike from its recently... Keep Reading...
Broad High-Grade intercepts returned from Kingfisher, Hawk and Swan RC Drilling

Broad High-Grade intercepts returned from Kingfisher, Hawk and Swan RC Drilling

Horizon Gold Limited (ASX: HRN) (‘Horizon’ or ‘the Company’) is pleased to announce numerous significant gold intercepts returned from RC drilling at its 100% owned Gum Creek Gold Project (‘Gum Creek’ or ‘the Project’) located in the Mid-West Region of Western Australia. Final assay results for... Keep Reading...
Providence Gold Mines

Providence Gold Mines Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News