Pantera Silver Announces Closing of Final Tranche of Oversubscribed Non-Brokered Private Placement
Pantera Silver Announces Closing of Final
Tranche of Oversubscribed Non-Brokered
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) -
Pantera Silver Corp. (TSXV: PNTR)
("
Pantera
" or the "
Company
") is pleased to announce that it has closed the second and final tranche of
an upsized and oversubscribed non-brokered private placement (the "
Private Placement
"), of Units of
the Company ("
Units
") originally announced on June 7, 2024.
The 2
nd
tranche of the Private Placement
consisted of the issuance of an aggregate of 3,401,333 Units at a price of $0.12 per Unit for aggregate
gross proceeds of $406,459.
On July 3, 2024, the Company closed the first tranche of the Private
Placement for proceeds of $963,240.
In total, 11,428,333 Units were issued for aggregate gross
proceeds of $1,371,399.
Each Unit issued in the 2
nd
tranche consists of one common share and one transferable common share
purchase warrant.
Each warrant will be exercisable to acquire one additional common share of the
Company for a period of 2 years from the closing date of the second tranche at an exercise price of
$0.20.
In connection with the second tranche of the Private Placement, Pantera will pay a cash finder's fee of
$1,400 and issue 11,667 non-transferable finder's warrants (the "
Finder Warrants
") to arm's length
finders. Each Finder Warrant entitles the holder thereof to acquire one common share in the capital of
the Company at an exercise price of $0.20 per share exercisable for a period of 2 years from issuance.
The net proceeds of the Private Placement are intended to be used for exploration work, potential
additional acquisitions and general working capital.
All securities distributed under the Private Placement will be subject to a statutory hold period of four
months from the date of issuance. Closing of the Second Tranche of the Private Placement, including the
payment of finders' fees, is subject to receipt of all necessary regulatory approvals.
Related Party Transaction
An aggregate of 1,200,000 Units for net proceeds of $144,000 were purchased by insiders of the
Company.
The insiders are considered "related parties" and "insiders" of the Company for the purposes
of applicable securities laws and stock exchange rules. The subscription and issuance of common
shares for the Insiders constitutes related party transactions, but are exempt from the formal valuation
and minority approval requirements of Regulation 61-101 -
Protection of Minority Security Holders in
Special Transactions
as neither the fair market value of the common shares and common share
purchase warrants issued to each of the Insiders, nor the consideration paid by such Insiders, exceeds
25% of the Company's market capitalization.
About Pantera Silver Corp.
Pantera Silver Corp. is a mineral exploration and development company committed to enhancing
shareholder value by advancing a diverse portfolio of mineral projects through collaborative partnerships
and highly experienced technical teams. Pantera will continue to seek out and secure high-quality,
unencumbered projects through research, staking and strategic acquisitions. Throughout the process,
our mission is to help maintain prosperous communities by exploring for and discovering resource
opportunities that build lasting relationships through honest and respectful business and environmental
practices while contributing to the growing needs of mined raw materials for a new green economy. For
more information visit
http://www.panterasilver.com
, or email
.
On behalf of the Board of Directors
"Jay Roberge"
CEO/Chairman
Pantera Silver Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This
news release contains "forward looking statements" within the meaning of applicable Canadian
securities legislation. Forward looking statements are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and contingencies. Forward looking
statements in this press release include that we can complete the Private Placement. Forward looking
statements involve known and unknown risks, uncertainties and other factors that may cause actual
financial results, performance or achievements to be materially different from the estimated future
results, performance or achievements expressed or implied by those forward-looking statements and
the forward-looking statements are not guarantees of future performance. Pantera Silver Corp
disclaims any obligation to update or revise any forward-looking statements, whether as a result of new
information, events or otherwise, except as required by law.
Not for distribution to United States newswire services or for release publication, distribution or
dissemination directly, or indirectly, in whole or in part, in or into the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/217043