Pan Am Energy cancels placement, arranges offerings

Executive Summary

• Pan American Energy Corp. cancels a previously announced non-brokered private placement of up to 4 million units and 1,538,462 flow-through units for $3 million.
• The company is replacing the cancelled offering with two concurrent private placements: a "LIFE offering" (Listed Issuer Financing Exemption) and a concurrent non-brokered private placement.
• The LIFE offering targets minimum gross proceeds of $565,000 and maximum gross proceeds of $2 million, while the concurrent offering targets up to $1 million in gross proceeds.

Key Details

• Cancelled Offering: The company will no longer proceed with the non-brokered private placement of up to 4 million units at $0.50 per unit and up to 1,538,462 flow-through units at $0.65 per flow-through unit, which was intended to raise up to $3 million.
• LIFE Offering Structure:
  • Charity Flow-Through (CFT) Units: Minimum of 753,333 units; maximum of 1,333,333 units.
  • CFT Price: $0.75 per unit.
  • CFT Components: One flow-through share and one common share purchase warrant (CFT warrant).
  • CFT Warrant Terms: Exercise price of $0.85 per share; exercisable for 24 months post-closing; subject to a 60-day hold period.
  • Non-Flow-Through (NFT) Units: Up to 2,000,000 units.
  • NFT Price: $0.50 per unit.
  • NFT Components: One non-flow-through common share and one share purchase warrant (NFT warrant).
  • NFT Warrant Terms: Exercise price of $0.65 per share; exercisable for 24 months post-closing; subject to a 60-day hold period.
  • LIFE Proceeds: Minimum $565,000; Maximum $2,000,000.
  • Use of Proceeds (LIFE): CFT proceeds for Canadian exploration expenses qualifying as flow-through mining expenditures; NFT proceeds for exploration of existing projects and general working capital.
  • Jurisdiction: Available to purchasers in all Canadian provinces except Quebec.
• Concurrent Non-Brokered Private Placement:
  • Quantity: Up to 2,000,000 units.
  • Price: $0.50 per unit.
  • Gross Proceeds: Up to $1,000,000.
  • Components: One common share and one common share purchase warrant.
  • Warrant Terms: Exercise price of $0.65 per share; exercisable for 24 months post-closing.
  • Hold Period: All securities subject to a statutory four-month-and-one-day hold period.
  • Use of Proceeds: Exploration expenses for existing projects and general working capital.
• Closing: Anticipated on or about October 6, 2025, subject to regulatory approvals.

Notable Quotes

• None provided in the text.