Panoro Minerals Ltd. Announces Update to Previously Announced Brokered LIFE Offering for Gross Proceeds of up to C$5 Million

Executive Summary

• Panoro Minerals filed a new offering document for a “best‑efforts” private placement of up to 1,300,000 units at C$0.40 per unit, targeting gross proceeds of up to C$520,000.
• The offering follows the first tranche closed on November 21, 2025, which raised C$2,918,200 from the sale of 7,295,500 units.
• Net proceeds are earmarked for infill drilling, metallurgical testing, pre‑feasibility engineering and an updated PEA for the Cotabambas Copper‑Gold‑Silver project, plus working capital and general corporate purposes.

Key Details

• Offering Structure: Each unit = 1 common share + 1 common share purchase warrant (exercise price C$0.60, exercisable until 21 Nov 2028).
• Pricing & Size: Up to 1,300,000 units at C$0.40 per unit → maximum gross proceeds of C$520,000.
• Agent Option: Agents may sell up to an additional 260,000 units (C$104,000) up to 48 hours before closing.
• Previous Tranche: Closed 21 Nov 2025; 7,295,500 units sold for C$2,918,200.
• Lead Agent/Bookrunner: Red Cloud Securities Inc., acting as lead agent and sole bookrunner for the syndicate.
• Use of Proceeds:
• Infill drilling on Cotabambas Project
• Metallurgical testing
• Pre‑feasibility engineering
• Completion of an updated Preliminary Economic Assessment (PEA)
• Working capital & general corporate purposes
• Regulatory Framework: Offered under NI 45‑106 listed issuer financing exemption to Canadian residents (excluding Québec); also available offshore and in the U.S. on a private‑placement basis subject to applicable exemptions.
• Closing Date: Expected on or about 22 Dec 2025, subject to regulatory approvals (including TSXV).
• Share/Warrant Liquidity: Units, underlying common shares and warrants expected to be freely tradeable in Canada upon issuance; U.S. resale limited to exempt transactions.

Notable Quotes

(No direct quotes were provided in the release.)