Providence Gold Announces
TSXV: PHD
US-OTCQB: PRRVF
December 22, 2021 GR-FRANKFURT: 7RH1.F
Providence Gold Announces
Non-Brokered Private Placement of up to
$1,300,000 First Tranche of $83,125 Closed
VANCOUVER – December 22, 2021, Providence Gold Mining Inc. (“Providence” or the “Company”)
(TSXV: PHD, US-OTCQB: PRRVF, FRANKFURT: 7RH1-F) is pleased to announce further to its December
2, 2021 news release announcing a non-brokered private placement unit offering (the “ Private
Placement”) of up to 18,571,500 units of the Company at a price of $0.07 per ordinary share attached
with a one year warrant at an exercise price of $0.15 to raise total gross proceeds of the issue of
$1,300,000.
The Company anticipates completing the offering in the New Year and has closed the first tranche of
$83,125 for an aggregate amount of 1,187,500 units. Certain insiders of the Company have already
participated in the amount of 830,000 units under the Private Placement.
Finders’ fees may be payable in connection with the offering and those qualified persons involved as
finders will receive a cash fee of up to 7% cash and 7% brokers warrants of the proceeds raised.
Closing of the Private Placement is subject to all necessary regulatory approvals including acceptance
from the TSX Venture Exchange. All securities issued in connection with the Private Placement will be
subject to a four-month hold period from the closing date under applicable Canadian securities laws, in
addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside
Canada.
The Company now plans a 4,000 meter near surface core drill program designed to evaluate the
significant gold potential between and beneath each of the numerous historical high-grade gold
producers within the Providence Group of Gold Mines and in further to confirming and ratifying results
of other investigative results including the recent high-tech underground 3-D terrestrial survey modeling.
Ronald Coombes states, “our successful work programs have provided target confidence and core drilling
will now provide proof to once again make the Providence one of the great Motherlode producers.”
History:
The Providence Mines have been sitting idle since 1916.
About Providence Gold Mines Inc.:
Providence Gold Mining Inc. is an advanced-stage gold mine exploration and development company.
For more information, please contact Ronald Coombes, President and CEO of the Company. Click HERE to
see “3-D Underground Terrestrial Survey Walk Through” Video
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
Phone: (604) 724-2369
Email: [email protected]
STAY TUNED! VISIT OUR WEBSITE FOR MORE DETAILS
www.ProvidenceGold.com
LIKE & FOLLOW @providencegoldmines
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither the OTCQB and or 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.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking
statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future
production of Providence Gold Mines, budget and timing estimates, the Company s working capital and financing opportunities and statements regarding the exploration
and mineralization potential of the Company s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and
uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Important factors
that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates;
uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native
groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty
as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program
milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of
management at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by
applicable securities laws. Investors should not place undue reliance on forward-looking statements.