THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES TORONTO, June 19, 2024 (GLOBE NEWSWIRE) -- Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company"), is pleased to announce that it has closed its previously announced bought-deal private placement. The Offering (as defined below) was completed through a syndicate of underwriters co-led by Beacon Securities Limited and Canaccord Genuity Corp. (the "Co-Lead Underwriters"), and including BMO Capital Markets, CIBC Capital Markets and SCP Resource Finance LP (together with the Co-Lead Underwriters, the "Underwriters") for aggregate gross proceeds of $18,003,590, which includes the exercise of the underwriters' option for additional gross proceeds of $3,000,800. The Offering was comprised of (i) 2,480,883 non-"flow-through" common shares (the "NFT Shares") of the Company at a price of $1.21 per NFT Share (the "NFT Issue Price") for gross proceeds to the Company of $3,001,868 (the "NFT Offering"); and (ii) 7,576,627 common shares that will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "FT Shares" and, together with the NFT Shares, the "Offered Securities") of the Company at a price of $1.98 per FT Share (the "FT Issue Price") for gross proceeds to the Company of $15,001,721 (the "FT Offering", and together with the NFT Offering, the "Offering"). The Company will use an amount equal to gross proceeds from the sale of the FT Shares to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) and, in respect of Québec resident subscribers who are eligible individuals, will qualify for inclusion in the "exploration base relating to certain Québec surface mining or oil and gas exploration expenses" and the "exploration base relating to certain Québec exploration expenses" of the Company, as such terms are defined in the Taxation Act (Québec) (the "Qualifying Expenditures") related to the Company's properties located in Québec, Canada on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour ...