Exploration and development company Probe Gold has announced a C$15-million bought-deal private placement to fund exploration and development at Canadian projects.
The Toronto-listed firm will offer 2.07-million non-flow-through shares at C$1.21 each for C$2.5-million and 6.31-million shares at C$1.98 a share for C$12.5-million.
Probe will use the proceeds of the offering to continue exploration and drilling at its flagship Novador project, in Quebec, and its early-stage Detour gold project, in Ontario.
At Novador, Probe is planning a mine that can produce up to 255 000 oz over 12.6 years.
The offering will close on June 19.