Pan American Closes LIFE Offering and Concurrent Private Placement Offering

Executive Summary

• Pan American Energy Corp. closed two non‑brokered private placements, raising a total of C$3 million in gross proceeds.
• The “LIFE Offering” issued 1,333,333 Charity Flow‑Through Units at C$0.75 each and 2,000,000 NFT Units at C$0.50 each (C$2 M total).
• A concurrent placement of 2,000,000 standard units at C$0.50 each generated an additional C$1 M.

Key Details

• LIFE Offering – Charity FT Units: 1,333,333 units @ C$0.75 per unit → C$1,000,000 gross proceeds.
• LIFE Offering – NFT Units: 2,000,000 units @ C$0.50 per unit → C$1,000,000 gross proceeds.
• Charity FT Unit composition: 1 flow‑through share + 1 common‑share purchase warrant (CFT Warrant) exercisable at $0.85 for 24 months; 60‑day hold period.
• NFT Unit composition: 1 non‑flow‑through common share + 1 NFT warrant exercisable at $0.65 for 24 months; 60‑day hold period.
• Use of proceeds – Charity FT Units: Fund Canadian Exploration Expenses qualifying as flow‑through mining expenditures.
• Use of proceeds – NFT Units & Concurrent Units: Finance exploration on existing projects and provide general working capital.
• Concurrent Private Placement – Standard Units: 2,000,000 units @ C$0.50 per unit → C$1,000,000 gross proceeds. Each unit = 1 common share + 1 warrant exercisable at $0.65 for 24 months; subject to a statutory four‑month‑plus‑one‑day hold period.
• Finder’s fees: $15,260 paid in cash and issuance of 30,520 finder’s warrants (exercise price $0.65, 24‑month term).
• Exemptions relied upon: Listed issuer financing exemption under NI 45‑106 Part 5A and Coordinated Blanket Order 45‑935.
• Securities not registered in the U.S.: Offerings restricted to jurisdictions where exemptions apply; no U.S. registration.

Notable Quotes

(No direct quotes were provided in the release.)