Investorideas.com (Investorideas.com
Newswire) a top 100 rated investment site for retail investors
following mining stocks issues a trading and news alert for
PROBE GOLD INC. (TSX: PRB) (OTCQB: PROBF).
Probe Gold Inc. is a leading Canadian gold exploration company focused
on the acquisition, exploration, and development of highly prospective
gold properties. The Company is well-funded and dedicated to exploring
and developing high-quality gold projects. Notably, it owns 100% of
its flagship asset, the multimillion-ounce Novador Gold Project in
Québec, as well as an early-stage Detour Gold Quebec project.
Probe controls a large land package of approximately
1,798-square-kilometres of exploration ground within some of the most
prolific gold belts in Québec.
The stock makes the top gainers list on the TSX following acquisition
news, Probe is trading at $3.6500,+1.0200 gaining 38.78% on 2.4
Million shares as of this report,
Probe announced that it has entered into a definitive agreement (the
“Arrangement Agreement”) pursuant to which Fresnillo plc
(the “Purchaser” or “Fresnillo”) has agreed to
acquire all of the issued and outstanding common shares of Probe (the
“Shares”) by way of a statutory plan of arrangement under
the Business Corporations Act (Ontario).
Fresnillo plc is the world’s largest primary silver producer and
Mexico’s largest gold producer, listed on the London and Mexican
Stock Exchanges (FRES). The company operates eight mines and four
advanced exploration projects in Mexico, with additional exploration
interests in Peru and Chile. Building on a strong track record of
discovering and developing successful mines, Fresnillo aims to
strengthen its position as a leading global precious metals company
while expanding its project pipeline beyond Mexico.
Transaction Highlights
Probe Shareholders to receive C$3.65 per Share payable in cash, for an
aggregate purchase price of approximately C$780 million (the
“Consideration”).
The Consideration represents a 39% premium based on the closing price
of the Shares on the Toronto Stock Exchange (the “TSX”) as
at October 30, 2025, and a 26% premium based on the volume-weighted
average price of the Shares on the TSX over the 20 trading days ending
October 30, 2025.
The board of directors of Probe (the “Board”) unanimously
recommends that Probe Shareholders vote in favour of the Transaction.
All directors and officers of Probe, as well as Eldorado Gold
Corporation, which collectively hold approximately 12% of the Shares,
have entered into voting support agreements with Fresnillo pursuant to
which they have agreed to, among other things, vote in favour of the
Transaction.
Subject to the various approvals required, the Transaction is expected
to close in Q1 2026.
Full news:
https://ca.finance.yahoo.com/news/fresnillo-acquire-probe-gold-c-070000090.html
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