Panther Minerals arranges private placements
Executive Summary
- Panther Minerals Inc. announced a non‑brokered private placement of up to 627,000 units at $0.16 per unit, targeting gross proceeds of up to $100,320.
- The company is simultaneously conducting a concurrent private placement of units priced at $0.16 each, with expected net proceeds between $1 million and $2.2 million.
- Units consist of common shares and warrants; the warrants have exercise prices of $0.16 (offering) and $0.25 (private placement) with a 24‑month term and additional follow‑on warrant features. All securities are subject to a statutory hold period of four months plus one day.
Key Details
- Offering Size: Up to 627,000 units
- Unit Price: $0.16 per unit
- Gross Proceeds (Offering): Up to $100,320
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Unit Composition (Offering): 1 common share + 1 common‑share purchase warrant (exercise price $0.16, exercisable 60 days after closing, 24‑month term)
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Concurrent Private Placement Size: Minimum gross proceeds $1 million, maximum $2.2 million
- Unit Price (Private Placement): $0.16 per unit
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Unit Composition (Private Placement): 1 common share + 1 private‑placement warrant (exercise price $0.25, 24‑month term)
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Follow‑On Warrant: Upon exercise of a private‑placement warrant at $0.25, holder automatically receives an additional warrant to purchase one more common share at $0.50 per share, exercisable within 24 months.
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Statutory Hold Period: All securities issued (including shares issuable upon warrant exercise and follow‑on warrants) are subject to a hold period of four months and one day from the closing date, in accordance with Canadian securities law and CSE policies.
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Use of Proceeds: Net proceeds will be used for general corporate and administrative purposes.
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Regulatory Framework: Offerings rely on the Listed Issuer Financing Exemption under NI 45‑106; units are offered to Canadian (non‑Quebec) residents and are not subject to resale restrictions, whereas other securities will carry the statutory hold period.
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Closing Conditions: Closing dates are to be determined by the company and are contingent upon receipt of required regulatory and exchange approvals; the offering closing is independent of the concurrent private placement closing.
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Finder’s Fees: May be payable to eligible finders in accordance with CSE policies.
Notable Quotes
(No executive quotes were provided in the release.)