Business
Panoro Announces Closing of First Tranche of Financing
Jul. 4, 2011 (Canada NewsWire Group) -- VANCOUVER, July 4, 2011 /CNW Telbec/ - Panoro Minera...
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"\n\n\n Jul. 4, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, July 4, 2011 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) ("Panoro") Panoro is pleased\n to announce that the company has completed the first tranche of the\n brokered private placement of 16,441,724 units at a price of $0.45 per\n unit whereby each unit includes 1 share and ½ share purchase warrant\n exercisable over 18 months at a price of $0.60.  The gross proceeds\n from the financing amount to $7.4 million.\n\n\nMPartners has acted as lead agent of the brokered private placement\n which includes Canaccord Genuity.  The Company has agreed to pay the\n Agent a cash fee equal to up to 7 per cent of the gross proceeds from\n the offering and an Advisory Fee. As additional compensation, the Agent\n will be issued compensation options entitling the Agent to purchase\n that number of common shares of the company equal to up to 7 per cent\n of the number of the common shares sold under the offering.\n\n\nHudBay Minerals Inc. (TSX: HBM, NYSE: HBM) has subscribed for 8,880,000\n units. The President and Chief Executive Officer of Panoro, Luquman\n Shaheen, stated "We look forward to expanding the exploration program\n at Cotabambas and are pleased to have HudBay as an important\n shareholder who sees the potential of Panoro's projects and shares\n Panoro's confidence in the future for the copper market and in the\n importance of the Peruvian mining ...