TIDMPALM

RNS Number : 6485M

Panther Metals PLC

22 September 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 
 FOR IMMEDIATE RELEASE 
 

PANTHER METALS PLC

("Panther" or the "Company")

(Incorporated in the Isle of Man with company number 009753V)

22(nd) September 2021

Placing to raise GBP630,000

Panther Metals plc (LSE:PALM) the company focused on mineral exploration in Canada and Australia, is pleased to announce the completion of a capital raise for a total of 5,250,000 ordinary shares of no par value (the "Placing Shares"), raising GBP630,000.00 before expenses, at a price of 12p per Placing Share (the "Placing Price"). Each Placing Share with be issued with a one-for-one warrant attached. The warrants have an exercise price of 18p and a 24 month life. The warrants are subject to an accelerator, shortening the exercise period, if the volume weighted overage price of the Company's shares exceeds 30p for five consecutive trading days.

The Placing Price of 12 pence per share represents a discount of 7.7% to the middle market price at the close of the market on the 21(st) September, the date and time at which the Placing Price was agreed. This represents parity with the last fund raising completed by the Company and announced on the 21(st) April 2021.

The Placing was conducted on behalf of the Company by SI Capital Limited.

When issued, the Placing Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares in the share capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares.

Application has been made to the Financial Conduct Authority ("FCA") for admission of the Placing Shares to the standard listing segment of the Official List and to the London Stock Exchange (the "LSE") for admission to trading of the Placing Shares on the LSE's Main Market for listed securities (together "Admission"). It is expected that Admission will take place at 8.00am on 29 September 2021 and that dealings in the Placing Shares on the LSE's main market for listed securities will commence at the same time.

Total Voting Rights

Following Admission, the Company's total issued share capital consists of 66,841,339 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.

Therefore, following Admission, the total number of voting rights in Panther Metals plc is 66,841,339. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Darren Hazelwood, Chief Executive Officer, commented:

"As we work towards the commencement of two drill programmes in Ontario, Canada: Dotted Lake on the Hemlo-Schreiber greenstone belt; and the Wishbone VMS target on the Obonga greenstone belt, this raise provides us with the capital required to proceed exactly as planned during this autumn. As we advance the business, the exploration processes required to make a discovery are now fully underway.

It is widely reported that the lack of access has been a contributory factor in the low levels of previous exploration carried out on the Obonga greenstone belt to date. Obonga has all the geological ingredients to host a commercially viable discovery, as illustrated by similar greenstone belts within the vicinity. As a result of this new capital injection we can now advance our plans to install a trail across Obonga giving us unparalleled exploration access."

For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of Panther is Darren Hazelwood, Chief Executive Officer.

Panther Metals PLC:

   Darren Hazelwood, Chief Executive Officer:                        +44(0) 1462 429 743 

+44(0) 7971 957 685

   Mitchell Smith, Chief Operating Officer:                              +1(604) 209 6678 

Broker:

SI Capital Limited

Nick Emerson +44(0) 1438 416 500

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September 22, 2021 09:43 ET (13:43 GMT)

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