Business
Panoro Announces Closing of Second and Final Tranche of Financing
Jul. 8, 2011 (Canada NewsWire Group) -- VANCOUVER, July 8, 2011 /CNW Telbec/ - Panoro Minera...
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"\n\n\n Jul. 8, 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 8, 2011 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) ("Panoro" or the "Company")\n Panoro is pleased to announce that the Company has completed the second\n and final tranche of the previously announced brokered private\n placement to raise an additional $352,980 through the placement of\n 784,400 units at a price of $0.45 per unit. Each unit consists of one\n share and one half of a share purchase warrant, each full warrant\n exercisable over 18 months at a price of $0.60.  The total gross\n proceeds from the two tranches amounts to approximately $7.8 million. \n Insiders acquired 500,000 units of the Financing.  The common shares\n comprising the units and any common shares issued upon the exercise of\n the warrants are subject to a four month hold period expiring on\n November 6, 2011.\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\nThe net proceeds are intended for the continued adva...