{"id":14064,"date":"2025-01-16T22:52:51","date_gmt":"2025-01-16T22:52:51","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/01\/16\/providence-gold-mines-inc-announces-extension-of-private-placement\/"},"modified":"2025-01-16T22:52:51","modified_gmt":"2025-01-16T22:52:51","slug":"providence-gold-mines-inc-announces-extension-of-private-placement","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/01\/16\/providence-gold-mines-inc-announces-extension-of-private-placement\/","title":{"rendered":"Providence Gold Mines Inc. Announces Extension of Private Placement"},"content":{"rendered":"<\/p>\n<div>\n<p> (TheNewswire) <\/p>\n<div>\n<\/div>\n<p>January 16, 2025 TheNewswire \u2013 (TSX-V: PHD) ( OTC: PRRVF ) Providence Gold Mines Inc. (the \u2018Company\u2019) announces that it has received an extension from the TSX Venture Exchange (\u2018TSX-V\u2019) with respect to the duration of its previously announced private placement (the \u2018Private Placement\u2019) (please see the Company\u2019s press releases dated November 20, 2024 and December 6, 2024). \u00a0 The outside date upon which final acceptance of the Private Placement will be granted by the TSX-V has been extended by 30 days. \u00a0While the Company has closed a first tranche of the private placement it applied for an extension to January 28, 2025.<\/p>\n<p><span> As previously announced the <\/span><span> 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. <\/span><\/p>\n<p><span> 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 \u00a0and as well as an area north of \u00a0the Mexican \u00a0shaft where \u00a0significant ground preparation \u00a0provides a favorable structural setting for hanging wall splay veins analogous to the historical <\/span><span> \u2018Bonanza\u2019 stope \u00a0at the Providence mine first stope at surface alone produced 50,000 ounces. Ron Coombes states, \u2018exploration efforts have modelled potential for robust significant high grade gold targets\u2019. <\/span><\/p>\n<p><span> 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. <\/span><\/p>\n<p><span> Qualified Person <\/span><\/p>\n<p><span> 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. <\/span><\/p>\n<p><span> 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 <\/span><\/p>\n<p><span> ON BEHALF OF THE BOARD <\/span><\/p>\n<p><span> \u2018Ronald Coombes\u2019 <\/span><\/p>\n<p><span> Ronald Coombes, President &amp; CEO <\/span><\/p>\n<p> Copyright (c) 2025 TheNewswire \u2013 All rights reserved. <\/p>\n<\/p>\n<\/div>\n<p>News Provided by TheNewsWire via QuoteMedia<\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>(TheNewswire) January 16, 2025 TheNewswire \u2013 (TSX-V: PHD) ( OTC: PRRVF ) Providence Gold Mines Inc. (the \u2018Company\u2019) announces that it has received an extension from the TSX Venture Exchange (\u2018TSX-V\u2019) with respect to the duration of its previously announced private placement (the \u2018Private Placement\u2019) (please see the Company\u2019s press releases dated November 20, 2024 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":14065,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/14064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=14064"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/14064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/14065"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=14064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=14064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=14064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}