Panther Metals PLC - mineral exploration in Canada - Raises GBP1.1 million through placing of 20.9 million shares at a price of 5.5 pence each. Placing price is 12% discount to Monday's closing share price of 6.25p.
Each share will be issued with one warrant allowing the holder to subscribe for one new share at a price of 8.5p. Warrants have a life of 36 months from date of admission.
Proceeds will go towards funding exploration drilling work in Canada with the main focus on diamond drilling at the Obonga project. SI Capital Ltd acted as the sole placing agent.
Current stock price: 5.3 pence, down 15% on Tuesday
12-month change: down 58%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Panther Metals (PALM)