Business
Australia: Rights Issue re 7,000m Drill Programme
Australia: Rights Issue re 7,000m Drill Programme.
About this update from Panther Metals Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n\n\n\n\n\nPANTHER METALS PLC\n(\"Panther\" or the \"Company\")\n(Incorporated in the Isle of Man with company number 009753V)\n22 August 2024\n \nAustralia: Rights Issue to Fund 7,000m Drill Programme\nPanther Metals PLC (LSE:PALM) the company focused on developing critical minerals projects in Ontario, Canada, informs shareholders that Australian Securities Exchange (\"ASX\") listed Panther Metals Ltd (\"Panther Australia\", ASX:PNT) has launched a new prospectus in respect of a renounceable rights issue to raise up to A$1,96 million Australian dollars (\"AUD\") with the use of funds focussed on 7,000m of drilling planned over 10 gold targets at their Laverton Gold Project.\n \nFull details of the Panther Australia ASX announcement and prospectus are available to view at the following link:\n \nhttps://www2.asx.com.au/markets/trade-our-cash-market/announcements.pnt\n \nKey Details:\n• Panther Australia has lodged a prospectus with the Australian Securities and Investments Commission (\"ASIC\") in respect of a pro-rata renounceable entitlement issue of three (3) Shares for every two (2) Shares held by those Shareholders registered at the Record Date at an issue price of $0.015 per Share together with one free Option for every four Shares applied for and issued, exercisable at $0.030 on or before the date that is 36 months from the date of issue (New Options) to raise up to $1,961,238 (based on the number of Shares on issue as at the date of the Prospectus) (Entitlement Offer). The Entitlement Offer is expected to close at 3:00pm (Australian Western Standard Time) on Tuesday 17 September 2024.\n• The Panther Australia Prospectus also contains the following secondary offers: (a) an offer of up to 32,687,310 New Options to Cumulus Wealth Pty Ltd or its nominees (\"Cumulus\") for acting as sub-underwriter the Entitlement Offer (Sub Underwriter Offer); and (b) an offer of 10,000,000 New Options to Cumulus (or its nominees) for acting as lead man...