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Pan American Energy Announces $900,000 Charity Flow Through Offering
CALGARY, Alberta, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the "Company" or "Pan American") (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is ple
About this update from Pan American Energy Corp.
[{"type":"text","content":" CALGARY, Alberta, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the \"Company\" or \"Pan American\") (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is pleased to announce that it intends to complete a non-brokered charity flow through private placement of Common Shares of the Company (\"CS\") at a price of $0.66 per CS for aggregate gross proceeds of up to $900,000 (\"FT Offering\"). The gross proceeds of the FT Offering will be used by the Company to incur eligible \"Canadian exploration expenses\" that are intended to qualify as \"flow-through critical mineral mining expenditures,\" as such terms are defined in the Income Tax Act (Canada) related to the Company's Big Mack Lithium Project. Subject to compliance with the policies of the Canadian Securities Exchange (\"CSE\") and applicable securities legislation, the Company may pay finder’s fees in connection with the FT Offering. The CS issued under the FT Offering are intended to qualify as “flow through shares” within the meaning of the Income Tax Act (Canada). The Company anticipates closing of the FT Offering to occur on or about December 29th, 2023. Closing of the FT Offering is subject to the Company’s receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange. The securities issued pursuant to the FT Offering will be subject to a four-month hold period from the closing date. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Pan American Energy Corp. Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FSE: SS60) is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America. The Company executed an option agreement in Canada with Magabra Resources, providing for the right to acquire up to a 90% interest in the drill-ready Big Mack Lithium Project, 80 ...