Providence Gold Mines arranges $250,000 financing

Executive Summary

• Providence Gold Mines Inc. announced a non‑brokered private placement of up to $250,000 through the issuance of 5 million units (each unit = 1 common share + 1 full warrant).
• Units are priced at $0.05 per common share; warrants allow purchase of an additional share at $0.05 for 24 months and are non‑transferable.
• Net proceeds will fund regulatory fees, sampling, underground mineralization evaluation at the La Dama de Oro property, a surface geochemical survey, and related administration.

Key Details

• Financing Structure: Private placement of up to 5 million units; each unit = 1 common share + 1 full warrant.
• Pricing: $0.05 per common share; warrants exercisable at $0.05 per share for 24 months from closing.
• Gross Proceeds Target: Up to $250,000 (assuming full subscription).
• Hold Period: Securities subject to a four‑month + one‑day hold period under securities law.
• Regulatory Conditions: Closing contingent on TSX Venture Exchange approval and other regulatory approvals; units issued under NI 45‑106 exemptions (accredited investors, friends & family).
• Use of Proceeds:
• Regulatory filing fees.
• Sampling and evaluation of existing underground mineralization at La Dama de Oro (including the historic “Ace in the Hole” stope).
• Geochemical surface survey.
• General administration costs.
• Property Status: Permits secured for bulk sampling, water, road access, environmental work, plan of operation, and mill site; no prior modern drilling or NI 43‑101 resources reported.
• Technical Review: Scientific and technical information reviewed and approved by Zachary Black, SME‑RM (qualified person under NI 43‑101).

Notable Quotes

“Having all permits in place gives certainty to realize potential future opportunity for production at the La Dama de Oro mine.” – Ronald A. Coombes, President & CEO

Safe harbor statements included.