The Prospector News

Pan American Closes First Tranche of Private Placement for Total Proceeds of C$2,595,000

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Pan American Closes First Tranche of Private Placement for Total Proceeds of C$2,595,000

 

 

 

 

 

Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement for gross proceeds to the Company of C$2,595,000. The Company hopes to close the final tranche of the Offering, for gross proceeds of up to C$905,000, as soon as practicable.

 

Pursuant to the First Tranche, the Company issued 6,487,500 units of the Company at a price of $0.40 per unit for aggregate gross proceeds of C$2,595,000, with each Unit comprised of one common share of the Company and one Share purchase warrant of the Company entitling the holder to acquire one Share at a price of C$0.55 per Warrant Share until November 10, 2025.

 

The Company intends to use the net proceeds raised from the Offering for general and administrative expenditures, investor awareness and promotional expenditures and general working capital purposes. All securities issued in connection with the closing of the First Tranche are subject to a statutory hold period, in accordance with applicable securities laws, expiring on March 11, 2024.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 

About Pan American Energy Corp.

 

Pan American Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

 

The Company executed an option agreement in Canada with Magabra Resources, providing for the right to acquire up to a 90% interest in the drill-ready Big Mack Lithium Project, 80 km north of Kenora, Ontario. The Company has also entered a property option agreement with Horizon Lithium LLC providing for the right to acquire a 100% interest in the Horizon Lithium Project, located within Esmeralda County – Tonopah Lithium Belt, Nevada, USA.

 

Posted November 13, 2023

Share this news article

MORE or "UNCATEGORIZED"


Sage Potash Closes Private Placement of $1,822,500

Sage Potash Corp., (TSX-V: SAGE) (OTC: SGPTF) has closed its no... READ MORE

May 28, 2024

Silver Storm Announces Rosarios Mine Drill Results

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR),... READ MORE

May 27, 2024

McEwen Mining: Grey Fox Exploration Update Extending the Production Pipeline: Good Grades Near Surface, Potential at Depth

Assay Highlights: 24GF-1426: 586.7 g/t Au over 0.5 m (18.86 oz/t ... READ MORE

May 27, 2024

Hudbay Completes Upsized Bought Deal Equity Offering

Hudbay Minerals Inc. (TSX:HBM) (NYSE: HBM) is pleased to announc... READ MORE

May 24, 2024

PANTHER MINERALS CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Panther Minerals Inc. (CSE: PURR), is pleased to announce that t... READ MORE

May 24, 2024

Copyright 2024 The Prospector News