Black Panther Receives Approval of Shares For Debt Settlement
News Release No: 14-07
Trading symbols: TSX-V: BPC
Black Panther Receives Approval of Shares For Debt Settlement
West Vancouver, British Columbia – November 5, 2014 – By news release dated September 12, 2014, Black Panther Mining Corp. (the “Company” or “Black Panther”) announced that it had entered into debt settlement agreements (the “Agreements”) to settle obligations (the “Settlements”) owed to certain non-arm’s length and arm’s length creditors, in the aggregate amount of $182,322.82, through the issuance of an aggregate of 3,646,457 common shares of the Company at a deemed value of $0.05 per share. At the Company’s annual general and special meeting on October 9, 2014 (the “AGM”), the shareholders approved the Agreements, however, the Board of Directors subsequently agreed to increase the deemed price per share for the Settlement from $0.05 to $0.10, resulting in a lower number of shares to be issued pursuant to the Settlement (1,823,228 shares issued, rather than 3,646,457 shares as originally proposed). The Company received TSX Venture Exchange (the “Exchange”) acceptance of the Settlement by letter dated October 24, 2014 and the subject shares were issued by the Company on October 30, 2014 (at a deemed price of $0.10 per share). The shares issued pursuant to the Settlement are subject to a statutory four month hold period expiring on March 1, 2015.
As a result of the subject share issuance, Douglas Mason, the Company’s President and CEO, has become a new Control Person (as such term is defined in the policies of the Exchange), which has been approved by the Exchange and by disinterested shareholders of the Company at the AGM held on October 9, 2014.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.blackpanthermining.com.
BLACK PANTHER MINING CORP.
“Sead Hamzagic”
_________________________________ Sead Hamzagic, Chief Financial Officer
Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.