Probe Metals Announces Private Placement

Provided By Globe Newswire

Last update: May 30, 2022

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TORONTO, May 30, 2022 (GLOBE NEWSWIRE) -- Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to announce that it has received initial commitments from Quebec institutional funds in connection with a non-brokered Private Placement (the “Offering”) of up to 5,307,071 units of Probe (the “Units”) at a price of CDN$1.75 per Unit for aggregate gross proceeds of up to CDN$9,287,375. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of CDN$2.40 per share for a period of 24-months from the Closing Date.