Business
Panoro Minerals Ltd. Announces Closing of First Tranche of Brokered LIFE Offering for Gross Proceeds of C$2.9 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"Panoro Minerals Ltd. Announces Closing of First Tranche of Brokered LIFE Offering for Gross Proceeds of C$2.9 Million\n\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n VANCOUVER, British Columbia, Nov. 21, 2025 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (“\n \n Panoro\n \n ” or the “\n \n Company\n \n ”) (TSX.V: PML), is pleased to announce the closing of the first tranche (the “\n \n First Tranche\n \n ”) of its previously announced “best efforts” private placement (the “\n \n Offering\n \n ”) for gross proceeds of C$2,918,200 from the sale of 7,295,500 units of the Company (each, a “\n \n Unit\n \n ”) at a price of C$0.40 per Unit (the “\n \n Offering Price\n \n ”). Red Cloud Securities Inc. is acting as lead agent and sole bookrunner with Cormark Securities Inc. acting as co-agent (together, the “\n \n Agents\n \n ”) in connection with the Offering.\n \n\n Each Unit consists of one common share of the Company (each, a “\n \n Common Share\n \n ”) and one common share purchase warrant (each, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder thereof to purchase one Common Share (a “\n \n Warrant Share\n \n ”) at a price of C$0.60 at any time on or before November 21, 2028.\n \n\n 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 (“\n \n PEA\n \n ”) for the Cotabambas Copper-Gold-Silver project (the “\n \n Cotabambas Project\n \n ”) as well as working capital and general corporate purposes.\n \n\n In accordance with National Instrument 45-106 -\n \n Prospectus Exemptions\n \n (“\n \n NI 45-106\n \n ”), the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 –\n \n Exemptions from Certain Conditions of the Listed Issuer Financing Exemption\n \n (the “\n \n Listed Issuer Financing Exemption\n \n ”). The Common Shares and Warrants underlying the Units, and the Warrant Shares underlying the ...