VANCOUVER, BC, May 23, 2024 /CNW/ – Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE: PURR), is pleased to announce that the Company has completed the first tranche of its previously announced non-brokered private placement (“Private Placement“) of common shares in the capital of the Company (“Shares“) for gross proceeds of C$1,251,650 through the sale of 6,258,250 Shares at a price of C$0.20 per Share.
The proceeds from the Private Placement are going to be used to fund exploration and for general working capital purposes. The Shares issued pursuant to the first tranche of the Private Placement are subject to a four month and one day hold period expiring September 24, 2024 pursuant to National Instrument 45-106 – Prospectus Exemptions. The Company paid a finder’s fee of $9,800 in cash to certain arm length parties in relation to the Private Placement.
As part of and included in this tranche of the Private Placement, the Company issued 600,000 Shares to settle outstanding indebtedness in the aggregate amount of C$120,000 pursuant to debt settlement agreements with certain creditors of the Company.
Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Robert Birmingham, Chief Executive Officer
For more information please visit: www.pantherminerals.ca or email [email protected].
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Certain information in this news release may constitute “forward-looking” information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Corporation or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this news release, this information may include words such as “anticipate”, “estimate”, “may”, “will”, “expect”, “believe”, “plan” and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release.
Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation’s Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.
SOURCE Panther Minerals Inc.
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