Pan Global Resources Announces $7.2 Million Private Placement With Alpayana

About this update from Pan Global Resources Inc.

Company elects not to proceed with proposed Warrant extension VANCOUVER, BC, April 23, 2026 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce a non-brokered private placement financing with an existing strategic investor, Alpayana ("Alpayana") to purchase 45,000,000 Common Shares (the "Shares") of the Company at a price of C$0.16 per Share for aggregate gross proceeds of C$7,200,000 (the "Offering"). At closing of the Offering, Alpayana will hold approximately 19.9% of the outstanding shares of Pan Global. In addition, in consideration of the Offering with Alpayana, the Board of the Company has elected not to proceed with the previously announced Warrant extension (see April 21, 2026 media release). The Company invites warrant-holders to exercise their warrants before the expiry date of May 6, 2026. "We are extremely pleased with Alpayana's offer to significantly increase its strategic investment in Pan Global. Alpayana is a Peruvian mining company with six operating mines in Latin America. This strategic investment is a strong endorsement of the potential in the Company's projects in Spain and allows the Company to accelerate drilling at our Escacena and Cármenes Projects focussed on both expanding the current Escacena resource base and accelerating exploration for new discoveries in the next twelve to eighteen months," said Tim Moody, President and CEO. The proceeds of the Offering will be used to double the current drilling plan to 20,000 meters and expand and accelerate exploration at the Company's Escacena and Cármenes Projects. This includes: Drilling to extend and expand the Cañada Honda copper-gold deposit, where a preliminary resource, drill results and a large untested coincident gravity and electro-magnetic target indicate significant expansion potential; Expanding exploration activities in the highly prospective and large Escacena South area. This will commence with a heliborne geophysics survey followed by an aggressive drill program. Applications for access and permits for the drill program are in progress and expected later this year; Follow-up drilling at the Cármenes Project, with the focus on expanding the Providencia target and drill-testing additional targets identified from recent exploration; and,   General corporate purposes.  The Offering is subj...

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