Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (25556)	2/23/2017 9:09:03 AM
From: Andrew~	Read Replies (1) \| Respond to of 202925

PRB-V Probe Metals Increases Bought Deal Equity Financing of Flow-Through Shares to $11.9 Million TORONTO, ONTARIO--(Marketwired - Feb. 23, 2017) - Probe Metals Inc. (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to announce that, due to increased investor demand, the Company is increasing its previously announced "bought deal" private placement (see news release dated February 7, 2017) to $11.9 million from $10 million. The offering will now consist of 886,151 Ontario flow-through common shares of the Company (the "Ontario FT Shares") at a price of CAN $1.68 per Ontario FT Share and 5,088,849 Quebec flow-through common shares of the Company (the "Quebec FT Shares") at a price of CAN $2.05 per Quebec FT Share for aggregate gross proceeds of $11,920,874 (the "Offering"), collectively the flow through common shares (the "Flow-Through Common Shares"). Cormark Securities Inc., Macquarie Capital Markets Canada Ltd., and Industrial Alliance Securities Inc. (collectively, the "Underwriters") will also have the option to purchase up to 15% of the number of Flow-Through Common Shares in any combination of Ontario FT Shares and/or Quebec FT Shares, sold pursuant to the Offering, exercisable at any time prior to the closing of the Offering. The gross proceeds from the Offering will be used to fund "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to Probe's projects in Ontario and Québec. The Offering will take place by way of a private placement to qualified investors in such provinces of Canada as the Underwriters may designate, and otherwise in those jurisdictions where the Offering can lawfully be made. The securities to be issued under the Offering will have a hold period of four months and one day from closing. It is expected that the closing of the Offering will occur on or about February 28, 2017 and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange. In consideration for their services, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds of the Offering. About Probe Metals: Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is well-funded and controls a strategic land package of over 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Ontario and Quebec: Val d'Or, West Timmins, Casa-Berardi and Detour Quebec. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d'Or East Gold Project. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp Inc. in 2015. Goldcorp Inc. currently owns approximately 13.9% stake in the Company.