Canadian-based mineral exploration and development company Premier Gold Mines (TSX: PG) has teamed up with Jones, Gable & Company Limited and placed its shares at $3.65.

Premier plans to use the gross proceeds from the sale of the shares for exploration programs to be conducted on the Hardrock project, Red Lake projects and PQ North project in Ontario. "Premier will remain one of the industry's most active explorers with an exploration budget of approximately $20 million over the next 15 months," stated Ewan Downie, president of Premier.

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