On November 11, 2019 Probe Metals Inc. (“Probe” or the “Company”) announced that it had entered into an agreement with Sprott Capital Partners LP and Canaccord Genuity Corp. to act as co-lead underwriters, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), whereby the Underwriters have agreed to purchase, on a “bought deal” private placement basis, $10,000,000 of Flow-Through Units of the Company at a price of $1.80 per Flow-Through Unit. Closing is expected on or about December 10, 2019.

On November 13, 2019 the Company announced that that it has increased the size of the bought deal private placement to $17,000,000, pursuant to which the Underwriters have agreed to purchase 7,697,500 Flow Through Units of the Company at a price of C$1.80 per Flow Through Unit for gross flow-through proceeds of $13,855,500 and 3,144,500 Hard Units at a price of C$1.00 per Hard Unit for gross non flow-through proceeds of $3,144,500 (together, the “Underwritten Offering”).

The gross proceeds from the Underwritten Offering will be used to fund exploration on Probe’s projects in Québec and for general working capital purposes. . 

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 committed to discovering and developing high-quality gold projects, including its key asset the Val-d’Or East Gold Project, Quebec.

Peterson McVicar acted for Probe Metals Inc. with a team that included Dennis Peterson and Peter Georgas.