Provenance Gold raises $4.5 million in private placement

Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) completed a non-brokered private placement raising $4.5 million in gross proceeds, according to a company statement.

The Vancouver-based precious metals exploration company issued 18 million units at $0.25 per unit. Each unit includes one common share and half of one share purchase warrant, with full warrants exercisable at $0.30 until October 27, 2030.

In connection with the offering, Provenance paid $156,000 and issued 624,000 broker warrants to a brokerage firm. The broker warrants carry the same terms as subscriber warrants. Securities from the offering cannot be resold until February 28, 2026, under securities law restrictions, with additional voluntary resale restrictions until October 27, 2026.

The company granted 1.53 million stock options to officers, directors and consultants with an exercise price of $0.30 per share. The options have a 60-month term and vest immediately.

Provenance operates two drill rigs at its Eldorado West project, with additional assay results pending. The company focuses on gold exploration in Nevada and eastern Oregon.

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