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Panoro Minerals Ltd. Announces Brokered LIFE Offering for Gross Proceeds of up to C$10 Million
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Panoro Minerals Ltd. (TSXV: ...
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"Panoro Minerals Ltd. Announces Brokered LIFE Offering for Gross Proceeds of up to C$10 MillionVancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Panoro Minerals Ltd. (TSXV: PML) (BVL: PML) (FSE: PZM) (OTCQB: POROF) (\"Panoro\" or the \"Company\") is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation (\"CFCC\" or the \"Lead Agent\") who has agreed to act as lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively with the Lead Agent, the \"Agents\"), in connection with a \"best efforts\" private placement (the \"Marketed Offering\") for the sale of up to 20,000,000 units of the Company (each, a \"Unit\") at a price of C$0.50 per Unit (the \"Offering Price\") for aggregate gross proceeds of up to C$10,000,000 (the \"Offering\"). Each Unit will be comprised of one common share of the Company (each, a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at a price of C$0.70 at any time on or before that date which is 36 months following the Closing Date (as herein defined).The Company also granted the Agents an option, exercisable in whole or in part, at any time up to 48 hours prior to the Closing Date (as defined below), to purchase, or arrange for the purchase of, up to an additional 15% of the Units (the \"Additional Units\") at the Offering Price and otherwise on the same terms and conditions as the Units (the \"Agents' Option\") for additional gross proceeds of up to C$1,500,000. For clarity, all references herein to the \"Offering\" shall be deemed to include the Agents' Option, and all references herein to the \"Units\" being offered or distributed as part of the Offering shall be deemed to include the Additional Units offered or distributed pursuant to the Agents' Option. The Company intends to use the net proceeds of the Offering for infill drilling, metallurgical testing, pre-feasibility engineering and completion of an updated preliminary economic assessment (\"PEA\") on the Company's Cotabambas Copper-Gold-Silver project (the \"Cotabambas Project\"), working capital, including mineral concession payments, and general corporate purposes. The Offering will be made by way of private ...