Explor Resources Inc New EXSFF

Probe Sells West Porcupine

[apropos]

December 11, 2017

 

Toronto, December 11, 2017 – Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to announce that it has signed a purchase and sale agreement with GFG Resources Inc. (TSX-V: GFG) (“GFG”) for the sale of the West Porcupine property (the “Property”) located in Ontario, Canada. Probe has sold 100% interest in the Property to GFG in exchange for the issuance of 6,477,883 common shares of GFG, representing a value of $3.5 million based on GFG’s 20-day volume weighted average price.
 
"We have been successful in finding value in one of our non-core properties, while continuing to advance the exploration and development of the Company's flagship Val-d’Or East Project in Quebec,” stated David Palmer, President and Chief Executive Officer of Probe. “We are pleased with this transaction, which allows us to maintain exposure to a prospective land package as well as in GFG’s other properties."

Read more at https://www.stockhouse.com/companies/bullboard?symbol=v.prb&postid=27129810#L2FyKlw09zJDoFex.99