Probe Gold complète l'acquisition de Bermont Claims

Deal News | Jan 06, 2025 | Globenewswire

Probe Gold complète l'acquisition de Bermont Claims

Probe Gold Inc., a leading Canadian gold exploration company, has completed the acquisition of the Bermont claims, strategically expanding its presence adjacent to the Monique gold deposit in Val-d'Or, Quebec. This acquisition, finalized through an agreement with Gestion Jadmine Inc., allows Probe Gold to secure a 100% interest in 10 contiguous claims, extending the eastern boundary of the Monique site by 750 meters. The transaction price involves a cash payment of $1.5 million and equivalent Probe Gold shares valued at an additional $1.5 million, with a future milestone payment contingent upon confirming a mineral resource of at least one million ounces of gold. These claims hold significant potential for new gold resources, sharing geological features with the Monique deposit and hosting historically identified high-grade zones. Probe Gold plans to pursue aggressive resource expansion and exploration drilling to assess the untapped potential in the Bermont and Adelemont areas. The newly acquired property enhances the design and cost-effectiveness of the current mining operations. The acquisition forms part of Probe Gold's broader strategy to consolidate its position in the Val-d'Or Est region, home to substantial gold resources and a low-cost, politically stable mining environment.

Sectors

  • Mining and Exploration
  • Financial Services

Geography

  • Canada – The transaction takes place in Canada, specifically involving Probe Gold's operations in Val-d'Or, Quebec, a prominent region for mining activities.

Industry

  • Mining and Exploration – The acquisition by Probe Gold Inc. is directly related to the mining industry, focusing on gold exploration and potential resource expansion in historically significant gold-rich regions.
  • Financial Services – The transaction involves financial arrangements, including cash payments, equity transfer, and future contingent payments, typical within industry financial services and transaction structures.

Financials

  • $3.0 million – Total acquisition cost, including $1.5 million in cash and $1.5 million in Probe Gold shares based on a per share value of $1.677.
  • 1.5 million shares – Probe Gold shares issued as part of the transaction.
  • 3.5% NSR – Net Smelter Returns (NSR) royalty held by the seller, with options for Probe Gold to buy back part of it.
  • $1.5 million – Contingent milestone payment dependent on verifying a resource of at least 1 million ounces of gold.
  • $2.5 million – Cost for Probe Gold to purchase 2.5% of the NSR associated with the Bermont claims.

Participants

NameRoleTypeDescription
Probe Gold Inc.AcquirerCompanyA leading Canadian gold exploration company focusing on high-potential gold property acquisition and development.
Gestion Jadmine Inc.SellerCompanyThe company selling the Bermont claims to Probe Gold Inc.
Dr. David PalmerPresident and CEOPeopleHe is the President and Chief Executive Officer of Probe Gold Inc., making strategic decisions for the company.
Marc DucharmeVice President ExplorationPeopleResponsible for scientific and technical content related to the company's exploration activities.