11:07 AM EDT, 06/19/2024 (MT Newswires) -- Probe Gold ( PROBF ) on Wednesday said it closed its $18-million bought-deal private placement, which included the exercise of the underwriters' over-allotment option for additional proceeds of $3 million.

The offering was comprised of 2.48-million common shares priced at $1.21 each for a total of $3 million, and 7.6-million flow-through shares at priced $1.98 per for gross proceeds of $15 million.

Proceeds will be used to continue exploration and drilling at its Novador Gold project and Detour Gold project, and for working capital.

The company's shares were last seen down $0.01 to $1.30 on the Toronto Stock Exchange.

Price: 1.30, Change: -0.01, Percent Change: -0.76