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Panoro Minerals Ltd. Announces Update to Payment #3 for the Antilla Project Transaction
VANCOUVER, British Columbia, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (“Panoro” or the “Company”) (TSX.V: PML), announces that it has entered into amending agreements (the “Amending Agreements”) to the (i) option agreement dated March 4, 2024, as amended on March 18, 2024, among the Company, TABB Partners LLC (the “Optionee”) and Antilla Copper S.A. (the “Option Agreement”); and (ii) share purchase agreement dated as of October 21, 2021, as amended on June 9, 2023 (the “SPA”), amon
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (“Panoro” or the “Company”) (TSX.V: PML), announces that it has entered into amending agreements (the “Amending Agreements”) to the (i) option agreement dated March 4, 2024, as amended on March 18, 2024, among the Company, TABB Partners LLC (the “Optionee”) and Antilla Copper S.A. (the “Option Agreement”); and (ii) share purchase agreement dated as of October 21, 2021, as amended on June 9, 2023 (the “SPA”), among the Company, Panoro Holdings Ltd., and Calisto Cobre Inc. (“Calisto”), in connection with the Company’s sale in December 2021 of 90% of the shares of Antilla Copper S.A. (“Antilla”), a former wholly owned subsidiary of the Company to Calisto.","length":744,"tagName":"p"},{"type":"text","content":"In connection with the Amending Agreement to the Option Agreement, the Company has granted the Optionee the sole and exclusive option to acquire an additional 50% undivided interest in the net smelter returns royalty on the Antilla project (the “Royalty”). For greater clarity, pursuant to the Amending Agreement, the Optionee may acquire up to a 100% interest in the Royalty (for an aggregate 2% net smelter returns royalty). The Optionee must exercise its right to acquire the first option granted, being 50% of the Royalty, within 30 days of the date of the Amending Agreement. Otherwise, the first option expires and the Optionee is not permitted to exercise the second option (to acquire the additional 50% of the Royalty).","length":728,"tagName":"p"},{"type":"text","content":"In connection with the Amending Agreement to the SPA, the parties have agreed: (i) that the third payment of C$7,000,000 (US$5,200,000) is payable by Calisto on or before June 15, 2026 in exchange for an additional 15% of the issued and outstanding shares of Antilla; and (ii) the contingent payments will be paid in cash on a semi-annual basis after the commencement of commercial production from available cash.","length":413,"tagName":"p"},{"type":"text","content":"About Panoro","length":12,"tagName":"p"},{"type":"text","content":"Panoro remains focused on completing its technical objectives including project optimization studies which will feed into a PEA and help define the scope for the prefeasibility study for its Cotabambas Project.","length":210,"tagName":"p"},{"type":"t...