Business
Panther Minerals Issues Clarifying New Release
Vancouver, British Columbia – June 25, 2025 – TheNewswire - Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE: PURR) (OTC: GLIOF) (FWB: 2BC) is i
About this update from Panther Minerals Inc.
[{"type":"text","content":"Vancouver, British Columbia – June 25, 2025 – TheNewswire - Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE: PURR) (OTC: GLIOF) (FWB: 2BC) is issuing this press release to clarify its disclosure as a result of a review by the British Columbia Securities Commission. East Broullian Property – Clarifying Disclosure, Correction of Share Issuance and NSR Disclosure In the Company’s interim financial statements for the period ended March 31, 2025, and its corresponding MD&A, Panther Minerals incorrectly disclosed that 10,000,000 common shares were issued to Delford Ventures Ltd. (“Delford”), the optionor of the East Broullian Property, along with a grant of a 2% net smelter returns royalty (the “NSR”). The Company clarifies that only 1,000,000 common shares were issued to Delford, and that the 2% NSR is solely payable to Delford. The remaining 9,000,000 shares were issued to other parties in connection with the transaction, and not to the optionor. These parties were not shareholders of Delford and did not contribute capital to the staking of the claims; the shares were issued pursuant to a separate business arrangement, to which the Company was not a party. In addition, the Company’s news release dated December 19, 2024, and the material change report dated January 5, 2025, inaccurately disclosed that 5,000,000 shares were issued upon signing and 5,000,000 shares would be issued upon the first anniversary. The Company clarifies that all 10,000,000 shares were issued upon closing. Finally, the Company would like to clarify the East Broullian Property is comprised of 14 claims that were staked by Delford in November 2024 for a total cost of just over $1,000. At the time of the Company’s acquisition of the East Broullian Property, no exploration expenditures had been incurred on the property. The Company issued the above mentioned 10,000,000 common shares as consideration for the property based on a forward-looking view of the prospective exploration potential of the claims and the strategic value were considered to provide in connection with the Company’s broader development objectives in the region. The premium paid by the Company (as compared with the historical expenditures incurred to stake the property) reflected this view. NI 43-101 Report – Boulder Creek Project Status Update and Project Plan The Company’s n...