The Government of Quebec has participated in Probe Metals Inc.’s (TSXV: PRB) (OTCQB: PROBF) successfully completed Private Placement for aggregate gross proceeds of C$10,500,000.
The government of Québec participated in the capital rasing through Investissement Québec (IQ) via Fonds Capital Ressources Naturelles et Énergie, Caisse de dépôt et placement du Québec (CDPQ), SIDEX, Fonds de solidarité FTQ, Fonds régionaux de solidarité FTQ, the Société de dévelopement de la Baie-James (SDBJ) and Desjardins Capital (collectively, the Quebec funds). This Offering is in addition to the flow-through private placement completed in March of an amount of C$20.8 million to bring the total financing to approximately
“We are very pleased to have such strong support from our existing Québec-based institutional shareholders and to welcome the government of Quebec, through d’Investissement Québec, as a new investor in Probe Metals,” David Palmer, President and CEO of Probe, said.
“It is another example of Quebec’s commitment to the responsible development of its resource sector and marks an important milestone for the Val-d’Or East project. To see this level of support from provincial sources is also an illustration of why Quebec is considered one of the most mining-friendly jurisdictions in the world.
“This strategic partnership not only further solidifies our ability to continue advancing our projects but also puts us in a strong position to pursue the development of the Val-d’Or East project and establish project financing options.”
Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for Regional Economic Development, said the gold mining sector is particularly important for the economic development of the Abitibi-Témiscamingue region, and the investments that will be made by Probe Metals will undoubtedly generate direct and multiple socio-economic benefits.
“Consequently, our government is proud to participate in this major project, which will allow us to continue to develop the natural resources of Quebec.”
The proceeds from the Offering will be used to further explore and develop the company’s assets in Quebec.
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 multimillion-ounce Val-d’Or East Gold Project, Québec.
The company is well-funded and controls a strategic land package of approximately 1,500-square-kilometres of exploration ground within some of the most prolific gold belts in Québec.
The company was formed as a result of the $526 million sale of Probe Mines Limited to Goldcorp. Eldorado Gold Corporation currently owns approximately 10.4% of the company. For further information please visit: https://www.probemetals.com/
