Toronto, December 23rd, 2016 – Probe Metals Inc. (TSX-V: PRB) ("Probe" or the "Company") is pleased to announce the completion of the previously announced acquisition of the Bonnefond North property ("Bonnefond North") from QMX Gold Corporation ("QMX") and its joint venture partner. The details of the transaction and a description of the property are described in the Company's press release dated December 1st, 2016.
As part of the closing, Probe has completed a $1,500,000 investment in QMX by way of a private placement (the "Private Placement"). Probe purchased 15,000,000 common shares at $0.10 per share. As a result of the Private Placement, Probe holds approximately 11% of QMX's issued and outstanding common shares on an undiluted basis. The securities issued have a hold period of four months and one day from closing.