Business
Panoro Minerals Announces C$15 Million Bought Deal Public Equity Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITE...
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, Feb. 20, 2013 /CNW/ - Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) (\"Panoro\" or the \"Company\") is\n pleased to announce that it has entered into an agreement with\n Canaccord Genuity Corp. as lead underwriter on behalf of a syndicate of\n underwriters (the \"Underwriters\") pursuant to which the Underwriters\n have agreed to purchase, on a bought deal basis, 27,300,000 common\n shares of the Company (the \"Common Shares\") at a price of C$0.55 per\n Common Share (the \"Offering Price\") for gross proceeds of C$15,015,000\n (the \"Offering\"). The Company will also grant the Underwriter an\n over-allotment option to purchase an additional 4,095,000 common shares\n of the Company (the \"Over-Allotment Common Shares,\" and together with\n the Common Shares, the \"Offered Securities\") at the Offering Price and\n on the same terms as the Offering, exercisable at any time, in whole or\n in part, for a period of 30 days after and including the closing date\n of the Offering. If the Over-Allotment Option is exercised in full, an\n additional C$2,252,250 will be raised pursuant to the Offering, for\n total aggregate gross proceeds of C$17,267,250.\n\n\nThe Company intends to use the net proceeds from the Offering to fund\n the continued exploration and development of the Company's Cotabambas\n Project as well as for working capital and general corporate purposes.\n\n\nThe Offering is being made pursuant to a short form prospectus to be\n filed in B.C., Alberta,  Ontario and other agreed upon provinces of\n Canada other than Quebec. The Offered Securities will not be registered\n under the U.S. Securities Act of 1933, as amended, and may not be\n offered or sold in the United States absent registration or an\n applicable exemption from the registration requirements.\n\n\nThe Offering is expected to close on or about March 14, 2013 and is\n subject to certain conditions typical for a transaction of this nature\n and the receipt of all necessary regulatory approvals including the\n approval of the TSX Venture Exchange.\n\n\nThis press release does not constitute an offer of securities for sale\n in the United States. The securities being offered have not been, nor\n will be, registered un...