In a short period of time we have:

1. The Hocking report stating that Borden Gold project is uneconomical.

2. Large share price drop.

3. Probe announces a reclassification of the Borden Gold project. Probe share price continues to slide.

4. Probe announces that, “pleased to announce that it plans to complete a non-brokered private placement of up to 8,400,000 flow-through common shares ("Flow-Through Shares") of the company at a price of $3.10 per share for proceeds of approximately $26,040,000 (the "Financing".) A significant premium over today’s stock price giving the financing party a huge tax incentive for assuming considerable risk.

Looking at events listed above leaves me wondering. We could have offered a $3.10/share financing when the stock price was above $3/share. Sadly, the financing party would not enjoy the tax benefit he is currently contemplating. How long has Probe been in discussion to raise additional funds? How does the reclassification of Borden Gold connected to the financing? What is hocking’s role in this if any? Time to do some digging to see if I can connect the dots (no pun intended).

Rosehill