Providence Gold Mines Announces Closing of Private Placement of Units
Vancouver, April 25, 2025 - Providence Gold Mines Inc. (TSX-V:PHD) (OTC-PINKS:PRRVF) (FRANKFURT EXCHANGE 7RH1=F) (the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement"), whereby the Company has completed the issuance of 1,700,000 units of the Company (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of $85,000. Each Unit consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder to purchase one common share in the capital of the Company (a "Warrant Share") for a period of twenty-four (24) months from the date of issue at an exercise price of $0.09 per Warrant Share.
The Private Placement remains subject to final acceptance from the TSX Venture Exchange. The securities offered in the Private Placement are subject to a four month and one day transfer restriction from the date of issuance expiring on August 26, 2025, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. No finder's fees were paid in connection with the Private Placement.
The Company intends to use the proceeds of Private Placement for general working capital purposes.
The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
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.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Ronald Coombes
Mobile: 1- 604- 724-2369
rcoombesresources@gmail.com
Cautionary Statements Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward?looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the use of the proceeds raised under the Private Placement.
These forward?looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the risk that the Company will not be able to use the proceeds of the Private Placement as currently anticipated.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the proceeds of the Private Placement as currently anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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