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Pan American Energy Closes Charity Flow-Through Private Placement for Gross Proceeds of C$900,000
CALGARY, Alberta, Dec. 29, 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. 29, 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 has closed its previously announced non-brokered charity flow-through private placement of common shares of the Company (the “Offering”) for gross proceeds to the Company of C$899,999.76. Offering Pursuant to the Offering, the Company issued 1,363,636 “flow-through” common shares of the Company (each, a “Flow-Through Share”) at a price of $0.66 per Flow-Through Share. The Flow-Through Shares issued under the Offering are intended to qualify as “flow through shares” within the meaning of the Income Tax Act (Canada) (the “Tax Act”). The gross proceeds raised from the Offering are expected to 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 Tax Act, related to the Company’s Big Mack Lithium Project. All securities issued in connection with the closing of the Offering are subject to a statutory hold period, in accordance with applicable securities laws, expiring on April 29, 2024. 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 km north of Kenora, Ontario. The Company has also entered a property option agreement with Horizon Lithium LLC providing for the right to acquire a 100% interest in the Horizon Lithium Project, located within Esmeralda County – Tonopah Lithium Belt, Nevada, USA. To register for investor updates, please visit https://panam-energy.com. On Behalf of the Board of DirectorsJason LatkowcerCEO & Director ContactPhone : (587) 885-5970 Email: [email protected] Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “bel...