Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) is pleased to announce the closing of its non-brokered private placement for gross proceeds of $4,500,000.

Upon closing, the Company issued 18,000,000 units at a price of $0.25 per Unit. Each Unit consists of one common share and one-half of one share purchase warrant, with each full Warrant entitling the holder to purchase one additional share at a price of $0.30 until October 27, 2030.

In connection with closing the Offering, the Company paid $156,000 and issued 624,000 broker warrants to an arms-length brokerage firm. Each broker warrant is exercisable on the same terms as the subscriber Warrants. All securities issued in connection with the Offering are subject to restrictions on resale until February 28, 2026, in accordance with applicable securities laws. In addition, all subscribers in the Offering have agreed that the Units will be subject to additional restrictions on resale until October 27, 2026.

Stock Options

The Company also announces that it has granted 1,530,000 stock options to certain officers, directors and consultants of the Company. The options have an exercise price of $0.30 per share, have a sixty (60) month term from the date of the grant and vest immediately.

Ongoing Exploration

The Company continues to have two drill rigs operating at Eldorado West. Further assay results are pending.

About Provenance Gold Corp.

Provenance Gold Corp. is a precious metals exploration company with a focus on gold exploration within North America. The Company currently holds interests in Nevada, and eastern Oregon, USA.