PAN GLOBAL ANNOUNCES CLOSING OF FIRST TRANCHE OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT FINANCING

Executive Summary

• Pan Global Resources completed the first tranche of its previously announced non‑brokered private placement, issuing 14,517,500 common shares at $0.16 per share for gross proceeds of $2,322,800.
• The proceeds will be used to fund exploration drilling on flagship projects in Spain and for general corporate purposes.
• A related‑party transaction involved one director receiving 100,000 shares; the issuance was exempt from MI 61‑101 valuation and minority‑shareholder approval requirements.

Key Details

• Shares Issued: 14,517,500 common shares
• Price per Share: $0.16
• Gross Proceeds (First Tranche): $2,322,800
• Hold Period: Four months, expiring February 23 2026
• Finders’ Fees Paid: $46,368 (paid on a portion of the first tranche)
• Use of Proceeds: Advance exploration—including drilling—at flagship Spanish properties and for general corporate purposes.
• Related‑Party Transaction: One director subscribed for 100,000 shares; exemption applied under MI 61‑101 sections 5.5(b) and 5.7(a).
• Regulatory Notices: Shares not registered under U.S. securities laws; offering limited to jurisdictions where lawful.

Notable Quotes

(No direct quotes were provided in the release.)