Panorama Capital Announces Corporate And Project Update Related To Proposed Qualifying Transaction With Mogul Mountain Ventures

The May 28 update confirms that the amalgamation deadline has been extended to July 31, 2026, and the TSX Venture Exchange has reserved the ticker ‘MOGL’. Panorama is raising up to C$1.0 million via a non-brokered private placement at C$0.35 per share, running concurrently with Mogul’s previously announced subscription‑receipt offering of C$4.0 million to C$7.0 million at the same C$0.35 price. The U.S. Bureau of Land Management has approved exploration drilling of up to 5,000 metres at the Rays–West Dome project, including underground drilling from the historic AP Adit targeting the Voodoo Shear corridor. The historic adits and tunnels will also be evaluated.

The news is a routine execution step. The extension of the outside date to July 31 is a minor delay from the earlier target of Q2 2026 but keeps the transaction on track. The Panorama private placement adds incremental capital alongside the larger Mogul subscription receipts; the C$0.35 unit price is already known from March. BLM drill approval is a necessary regulatory milestone that enables the planned 5,000‑metre program, but it was always an expected pre‑requisite, not a surprise discovery. No new assay data, resource estimates, or strategic partnerships were announced. While the permit removes a risk, the announcement does not alter the fundamental value proposition. The news is therefore incrementally positive but well within the bounds of what the market had anticipated from the prior releases.

Panorama Capital Corp. is a Capital Pool Company that has entered a definitive amalgamation agreement with Mogul Mountain Ventures Corporation, a private Nevada‑focused gold‑silver explorer. Upon completion, the combined entity will be renamed Mogul Mountain Ventures Corp. and will trade under the symbol ‘MOGL’. The flagship asset is the 100%‑owned Rays–West Dome project, covering over 5,000 acres in Nevada’s Tonopah Trend. The project hosts two complementary systems: orogenic gold‑silver lodes at the Rays Shear and an epithermal system at West Dome. Historic regional production totals approximately 175 million ounces of silver and 1.86 million ounces of gold. The project has drill‑ready targets supported by 37 historic drill holes, geophysics, and over 1,000 surface samples. A 5,000‑metre drill program, including underground drilling from the AP Adit, is planned for 2026.