Panther Metals plc has raised £455,000 via a conditional 37.5% discounted placing of 910,000 ordinary shares of no par value at 50 pence per placing share.
DOTTED LAKE
The placing is subject to publication of a prospectus, expected in mid-February 2025.
Each placing share will have one warrant attached to subscribe for one new ordinary share at a price of 75 pence. The warrants last for 36 months from the date of admission.
The placing shares will represent approximately 17.63% of Panther’s enlarged ordinary share capital following the placing.
On admission, the company’s total issued share capital will comprise 5,189,080 ordinary shares. Panther holds no ordinary shares in treasury.
Proceeds will be used to advance the Dotted Lake project in Ontario. The company is currently awaiting further drill results from the Autumn 2024 drill campaign.