Probe Gold (PRB.TO) has closed a C$18M financing, including C$3M in proceeds from the overallotment option. The offering consisted of a hard dollar raise at C$1.21 per share and a larger flow-through financing priced at C$1.98 per share. Probe ended up raising about C$3M from the ahrd dollar financing and C$15M from the flow-through financing. The proceeds of the financing will obviously be used for exploration activities on the flagship Novador gold project in Québec’s Val D’Or region.

The company also appointed a new VP Exploration. Marc Ducharme is a resident of nearby Val D’Or and will now head Probe Gold’s exploration department.

Disclosure: The author has a long position in Probe Gold. Please read the disclaimer.

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