Probe Mines Ltd. (TSX-V: PRB) has closed its private placement consisting of 500,000 units being sold for $0.50 per unit to result in gross proceeds of $250,000. The company plans to use its proceeds to continue its exploration efforts in the McFauld's Lake area, along with working capital and new project acquisitions.
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Each unit contains 1 common share and 1 common share purchase warrant. A full purchase warrant enables the holder to purchase 1 common share for $0.75 for a two year period from closing.
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $4.2M in treasury and a portfolio of highly prospective mineral properties.
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