Panther Minerals Inc. (CSE: PURR), is pleased to announce that the Company has completed the first tranche of its previously announced non-brokered private placement of common shares in the capital of the Company 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.

About Panther Minerals Inc.

Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio.