Provenance Gold Closes Over-subscribed Private Placement with a Lead Order from Palisades Goldcorp to Advance its Gold and Silver Properties
PROVENANCE GOLD CORP.
Suite 2200, 885 West Georgia Street
Vancouver, British Columbia V6C 3E8
www.provenancegold.com
NEWS RELEASE
Provenance Gold Closes Over-subscribed Private Placement with a Lead Order from Palisades
Goldcorp to Advance its Gold and Silver Properties
February 16, 2021 - Provenance Gold Corp. (CSE: PAU) ( FSE: 3PG) (the “Company”) is pleased to report
the closing of its previously announced non-brokered private placement. In connection with closing, the
Company has issued 9,615,000 units (each, a “Unit”) at a price of $0. 10 per Unit for gross proceeds of
$961,500 with a lead order from Palisades Goldcorp Ltd. Each Unit consists of one common share of the
Issuer (each, a "Share") and one common share purchase warrant (each, a "Warrant") with each Warrant
entitling the holder thereof to purchase one additional common share (each, a "Warrant Share") of the
Issuer at a price of $0.15 per Warrant Share for a period of five (5) years from their date of issue.
Mr. Rauno Perttu states, “We are delighted to be advancing our Silver Bow gold and silver property in
addition to being able to initiate work on finalizing our drilling program on our White Rock property. This
should allow the Company the opportunity for more recognition by the investment community. With our
optimistic outlook for 2021 and beyond including our work to limit dilution we decided to cap this private
placement at over three times the original amount. We are very grateful for the support from our well-
placed strategic investors”.
Proceeds of this private placement will go towards exploration advancement and general working capital.
All securities issued in connection with the private placement are subject to a four -month-and-one-day
statutory hold period in accordance with applicable securities laws until June 13, 2021. In connection with
the offering, the Company has paid finders’ fees of $28,105 in conside ration for the introduction of
subscribers.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver resources
within North America. The Company currently holds interests in two properties i n Nevada, USA . For
further information please visit the Company's website at https://provenancegold.com or contact
About Palisades Goldcorp
Palisades Goldcorp is Canada's resource focused merchant bank. Palisades' management team has a
demonstrated track record of making money and is backed by many of the industry's most notable
financiers. With junior resource equities valued at generational lows, management believes the sector is
on the c usp of a major bull market move. Palisades is positioning itself with significant stakes in
undervalued companies and assets with the goal of generating superior returns.
On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer
Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy
of this press release.
This news release may contain certain “Forward -Looking Statements” within the meaning of the Unite d States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words
“anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar wo rds or expressions
identify forward-looking statements or information. These forward -looking statements or information may relate to proposed
activities at the White Rock gold project , and other factors or information. Such statements represent the Compa ny’s current
views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive, political and soc ial risks,
contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to
be materially different from the results, performance or achievements that are or may be expressed or implied by such forw ard-
looking statements. The Company does not intend, and does not assume any obligation, to update these forward -looking
statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such
statements and information other than as required by applicable laws, rules and regulations.