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Providence Gold Mines Inc V.PHD

Alternate Symbol(s):  PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Company’s gold mines consist of seven patented stake mineral claims and 22 located claims, encompassing an area of approximately 324 acres, which includes Bonita, Consuelo, FairPlay, Good Enough, McCarthy, Mexican, and Providence. The Providence Group of Mines is located in the Summerville Mining District, Tuolumne County, California, upon the eastern belt of the Mother Lode District. Its subsidiary is Providence Gold Mines (US) Inc.


TSXV:PHD - Post by User

Providence Gold Mines Inc > financing in the amount of $1,300,000 USD
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Comment by KozmoTon Jul 04, 2022 2:57pm
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Post# 34799867

RE:RE:RE:financing in the amount of $1,300,000 USD

RE:RE:RE:financing in the amount of $1,300,000 USDIf you think resorting to a convertible equity is GOOD then maybe you better do some reading ... Keep in mind of the $1.3 M they needed they somehow only managed to raise ... $121K


https://www.upcounsel.com/what-is-convertible-equity

Why Would an Established Company Have Convertible Equity?

In addition to several start-up companies having convertible equity, some companies that have been in existence for several years might also find themselves with convertible equity. Some reasons for this could be:

  1. The company might be insolvent
  2. The company might owe a significant amount of money to various creditors
  3. The company might be facing a lawsuit wherein it is nearing insolvency and needs financing to recoup the funds spent on litigation"
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