Probe Gold Inc. (TSX:PRB) entered into a definitive agreement to acquire Croinor Gold Property in Val-d?Or, Quebec, Canada from Monarch Mining Corporation for CAD 4.5 million on July 12, 2023. Pursuant to the Agreement, the Company will acquire a 100% interest in the Property for aggregate consideration of CAD 4.5 million, payable at the closing of the acquisition in a combination of cash and common shares of the Company, as follows: (i) Probe will issue to Monarch that number of common shares of the Company that is equal to CAD 2.5 million based on a 10-day volume weighted average price (VWAP) of Probe?s common shares on the Toronto Stock Exchange; and (ii) Probe will pay Monarch CAD 2 million in cash. In addition, Probe will assume any reclamation liabilities associated with the past-producing Croinor mine. The transaction is subject to receipt of all necessary regulatory and other approvals, including that of the Toronto Stock Exchange, and the satisfaction of other customary closing conditions. The closing of the transaction is expected to close in the coming weeks.

Probe Gold Inc. (TSX:PRB) completed the acquisition of Croinor Gold Property in Val-d?Or, Quebec, Canada from Monarch Mining Corporation on July 26, 2023.