Providence Gold Mines Inc. announced a non-brokered private placement of 18,571,500 units at a price of CAD 0.07 per unit for gross proceeds of CAD 1,300,005 on December 2, 2021. Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.15 per share for a period of one year from the date of closing. The transaction is subject to approval from regulatory and TSX Venture Exchange. The securities are being subject to four months hold period. A commission may be paid in the amount of 7% cash and 7% brokers warrant exercisable at a price of CAD 0.15 for a period of one year from the date of closing, subject to regulatory approval.