Announces Financing Placement
PROVIDENCE
ANNOUNCES FINANCING PLACEMENT
November 14, 2024. TSX-V PHD
OTC-PINKS: PRRVF
FRANKFURT EXCHANGE 7RH1=F
Providence Gold Mines Inc. (“the Company) is pleased to announce a private placement of up to $1,800,000 Cdn for 36,000,000
units at $0.05 per unit. Each unit will be comprised of one common share and one non-transferable warrant exercisable into one
common share of the Company at a price of $0.09 for a period of two years from the date of closing. Insiders of the Company are
planning to participate in the financing. A finder’s fee may be paid in accordance with applicable laws.
USE OF PROCEEDS
The funds from this placement will be used for evaluation of the new gold surface discovery reported for reference on May 6,2024
and for a significant drilling program of up to 2,500m targeting the historical McCarthy and Mexican shafts and as well as an area
north of the Mexican shaft where significant ground preparation provides a favorable structural setting for hanging wall splay
veins analogous to the historical ”Bonanza” stope at the Providence mine first stope at surface alone produced 50,000
ounces. Ron Coombes states, “exploration efforts have modelled potential robust significant high grade gold targets”.
All securities issued will be subject to a hold period of four months and one day from the closing date of the private placement, in
accordance with applicable Canadian securities laws. The closing of the financing is subject to the approval of the TSX Venture
Exchange.
Board Appointment
In addition, the Company is extremely pleased to announce the CFO and director appointment of Brian Crawford CPA, CA.
Brian Crawford CPA, CA, has extensive experience as a senior financial executive. Brian was formerly a partner with a national
firm of Chartered Professional Accountants and founded several public companies trading on the TSX Venture Exchange
(“TSX.V”) and the Canadian Securities Exchange (“CSE”). Brian currently serves as a Director, Corporate Secretary and or Chief
Financial Officer of several TSX.V and CSE listed issuers.
Qualified Person
Lee Groat Ph.D., P. Geo, a geologist and qualified person (as defined under NI 43- 101) has read and approved of the technical
information contained in this news release.
ON BEHALF OF THE BOARD
“Ronald Coombes”
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Ronald Coombes
Mobile: 1- 604- 724-2369
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.