Panther Minerals closes $3M private placement via Leede Financial

Panther Minerals Inc. (CSE: PURR)(OTCQB: GLIOF)(FWB: 2BC) has closed a brokered private placement raising $3,000,000 in aggregate gross proceeds, according to a company statement.

The offering consisted of 6,000,000 units and 6,000,000 special warrants, each priced at $0.25. The units generated $1,500,000 in gross proceeds, with each unit comprising one common share and one warrant exercisable at $0.33 per share for 24 months from the closing date. The special warrants raised an additional $1,500,000 and are convertible into one common share and one warrant without additional payment.

Leede Financial Inc. served as sole lead manager and bookrunner. The company paid the agent a cash commission of $210,000, 840,000 non-transferable agent warrants exercisable at $0.25 per share for 24 months, and a corporate finance fee of $60,000 plus applicable taxes.

Panther Minerals said it will use net proceeds for exploration and development of its East Brouillan Property, including drilling and geophysics programs, as well as for general working capital.

Securities issued to Canadian purchasers are subject to a statutory hold period of four months and one day from the closing date under applicable Canadian securities laws. The offering was made in Alberta, British Columbia, and Ontario, as well as in jurisdictions outside Canada and the United States.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

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