Panther Minerals Earns In Under Rubidium Ridge Project Option

Executive Summary

• Panther Minerals Inc. acquired 100% of Usha Resources’ Rubidium Ridge pegmatite project for $80,000 cash plus 4,150,000 Panther common shares.
• The transaction includes a 2.0 % net smelter return royalty retained by Usha, with Panther holding repurchase and right‑of‑first‑refusal options on the royalty.
• Panther must pay a $1,000,000 bonus to Usha if it delineates an inferred (or higher) resource of ≥10 Mt at ≥1 % Li₂O.

Key Details

• Consideration: $80,000 cash + 4,150,000 Panther common shares (subject to six‑month resale restriction).
• Royalty Retention: Usha retains a 2.0 % NSR on the Rubidium Ridge property.
• Repurchase Right: Panther may repurchase 50 % of the NSR for $1,000,000 and holds a right of first refusal on the remaining 50 %.
• Performance Bonus: Panther obligated to pay Usha an additional $1,000,000 upon achieving at least a 10‑million‑tonne inferred resource (or higher) with a minimum grade of 1 % Li₂O.
• Transaction Structure: Qualified as an “Exempt Transaction” under TSX Venture Exchange Policy 5.3 (Acquisitions and Dispositions of Non‑Cash Assets).

Notable Quotes

(No executive quotes were included in the release.)