Provenance Gold Corp. announced a non-brokered private placement for 10,000,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 800,000 on August 21, 2023. Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at a price of CAD 0.12 per common share for a period of 36 months from the date of issuance.

The securities issued pursuant to the transaction will be subject to a statutory hold period of four months and a day from the date of issuance. The company may pay a finder's fee on a portion of the gross proceeds of the transaction. The transaction remains subject to regulatory approval.

The closing of the transaction is expected to occur on or about August 31, 2023.