Pantera Silver closes $3.85-million financing

Executive Summary

• Pantera Silver Corp. has closed an oversubscribed non-brokered private placement, raising $3.85 million CAD in aggregate gross proceeds.
• The company issued 7.7 million units at a price of $0.50 CAD per unit, exercising a 10% overallotment option due to significant excess demand.
• Each unit includes one common share and one-half of one common share purchase warrant, with warrants exercisable at $0.75 CAD per share for two years.

Key Details

• Gross Proceeds: $3,850,000 CAD (originally anticipated to raise up to $3.5 million).
• Units Issued: 7,700,000 units.
• Price Per Unit: $0.50 CAD.
• Overallotment: 10% overallotment exercised and approved by the TSX Venture Exchange.
• Warrant Terms: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Exercise Price: $0.75 CAD per share.
• Warrant Expiration: Two years from the date of issuance.
• Finder’s Fees: $9,000 CAD paid in cash to arm’s-length finders.
• Statutory Hold Period: Four months plus one day, expiring on Feb. 17, 2026.
• Regulatory Status: Closing subject to customary conditions, including receipt of necessary regulatory approvals and final acceptance by the TSX-V.

Notable Quotes

• "We sincerely thank our shareholders -- both new and existing -- for their confidence and participation in this oversubscribed financing. This strong response reflects growing recognition of Pantera's opportunity to make a significant silver discovery. With a fortified treasury, an experienced technical team and strong local partnerships, we are well positioned to advance our exploration programs aggressively and responsibly." — Jay Roberge, CEO and Chairman