Probe Gold Announces Closing of $18 Million Bought Deal Private Placement

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TORONTO, June 19, 2024 (GLOBE NEWSWIRE) — Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) (“Probe” or the “Company”), is pleased to announce that it has closed its previously announced bought-deal private placement. The Offering (as defined below) was completed through a syndicate of underwriters co-led by Beacon Securities Limited and Canaccord Genuity Corp. (the “Co-Lead Underwriters”), and including BMO Capital Markets, CIBC Capital Markets and SCP Resource Finance LP (together with the Co-Lead Underwriters, the “Underwriters”) for aggregate gross proceeds of $18,003,590, which includes the exercise of the underwriters’ option for additional gross proceeds of $3,000,800. The Offering was comprised of (i) 2,480,883 non-“flow-through” common shares (the “NFT Shares”) of the Company at a price of $1.21 per NFT Share (the “NFT Issue Price”) for gross proceeds to the Company of $3,001,868 (the “NFT Offering”); and (ii) 7,576,627 common shares that will qualify as “flow-through shares” within the meaning of the Income Tax Act (Canada) (the “FT Shares” and, together with the NFT Shares, the “Offered Securities”) of the Company at a price of $1.98 per FT Share (the “FT Issue Price”) for gross proceeds to the Company of $15,001,721 (the “FT Offering”, and together with the NFT Offering, the “Offering”).

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