Panther Completes Acquisition of Rubidium Ridge Project

Executive Summary

• Panther Minerals completed its acquisition of a 100% interest in the Rubidium Ridge (RR) pegmatite project in Ontario from Usha Resources.
• Consideration consisted of $80,000 cash and issuance of 4,150,000 common shares (subject to six‑month resale restrictions).
• The deal includes a 2.0 % NSR royalty with an option for Panther Minerals to repurchase 50 % for $1 M and a right of first refusal on the remaining portion; plus a $1 M bonus payable upon delineation of at least a 10‑Mt inferred Li₂O resource ≥ 1 % grade.

Key Details

• Transaction Value: $80,000 cash + 4,150,000 Panther Minerals common shares.
• Share Adjustment: Original announcement cited 4,500,000 shares; corrected to 4,150,000 shares.
• Resale Restrictions: Consideration Shares cannot be resold for six (6) months from issuance date.
• Royalty Structure: RR Property carries a 2.0 % net smelter return (NSR) royalty in favor of original optionors.
• Royalty Repurchase Right: Panther Minerals may repurchase 50 % of the NSR for $1,000,000.
• Right of First Refusal: Panther Minerals holds a right of first refusal to acquire the remaining 50 % of the NSR.
• Performance Bonus: An additional $1,000,000 bonus is payable upon delineation of an inferred (or higher) resource of ≥ 10 million tonnes at a minimum grade of 1 % Li₂O.
• Regulatory Approval: All necessary approvals from the Canadian Securities Exchange have been received to close the transaction.

Notable Quotes

(No direct quotes were provided in the release.)