Business
Panther Minerals Enters Into Definitive Agreement to Acquire Huber Heights Uranium Property, Elko County, Nevada
VANCOUVER, BC, July 29, 2024 /CNW/ - Panther Minerals Inc. ("Panther Minerals" or the "Company") (CSE: PURR) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that
About this update from Panther Minerals Inc.
[{"type":"text","content":" VANCOUVER, BC, July 29, 2024 /CNW/ - Panther Minerals Inc. (\"Panther Minerals\" or the \"Company\") (CSE: PURR) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that further to its press release on July 18th, 2024, it has closed the previously announced definitive agreement with 1484506 B.C. Ltd. (\"148 BC\") and its shareholders dated July 17th, 2024, providing for the acquisition by the Company of 148 BC, which holds the beneficial interest in the Huber Heights Uranium property (the \"Property\"), located in northern Elko County, Nevada from the shareholders of 148 BC (the \"Transaction\"). Pursuant to the Transaction, the Company issued an aggregate of 5,000,000 common shares of the Company (the \"Consideration Shares\") to the shareholders of 148 BC pro rata to their respective shareholdings in 148 BC. The Company also made a cash payment of CAD$20,000 to one of the shareholders of 148 BC as the shareholder's nominee, to be distributed in pro rata to the shareholders of 148 BC. The Transaction is at arm's length, there is no insider interest and there are no finder's fees payable in connection therewith. The Consideration Shares are being issued in accordance with the Take-over bid and issuer bid exemption as provided in Section 2.16 of National Instrument 45-106-Prospectus Exemptions but are subject to a 6-month voluntary lock-up period, during which period the recipients of the Consideration Shares will be restricted from trading the Consideration Shares (the \"Initial Lockup Period\"). Following the Initial Lockup Period, the Consideration Shares will be released at a rate of 20% per month. About Panther Minerals Inc. Panther Minerals is a mineral exploration company actively involved in the exploration of its North American project portfolio. The acquisition of the Boulder Creek option reflects the Company's continuing intention of pursuing advanced, high-quality prospective uranium projects that can be readily worked on and efficiently explored, in a timely manner. ON BEHALF OF THE BOARD OF DIRECTORS Mr. Robert Birmingham, Chief Executive Officer For more information please visit: www.pantherminerals.ca or email [email protected]. The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Forward-Looking Statements This news...