Panther Minerals Inc. has completed its brokered private placement, raising aggregate gross proceeds of $3,000,000 through the issuance of 6,000,000 units and 6,000,000 special warrants.

The financing delivers fresh capital to advance the company's optioned East Brouillan Property in the Abitibi District of Quebec. Panther Minerals will direct the net proceeds toward exploration and development work across the ground, including planned drilling and geophysics programs, alongside general working capital requirements.

The offering was conducted through Leede Financial Inc. acting as sole lead manager and sole bookrunner. The units were priced at $0.25 each, with every unit comprising one common share and one common share purchase warrant. Each warrant allows the holder to acquire an additional common share at an exercise price of $0.33 for a period of 24 months from the closing date.

Special warrants were likewise issued at $0.25 per special warrant. These securities convert automatically into one common share and one warrant upon the earlier of a final prospectus receipt or four months and one day following the closing date.

In connection with the placement, Panther Minerals paid a cash commission of $210,000, issued 840,000 non-transferable agent warrants exercisable at $0.25 for 24 months, and settled a corporate finance fee of $60,000 plus applicable taxes. Securities issued to purchasers in Canada remain subject to a statutory hold period of four months and one day from the closing date.

As part of upcoming operational milestones, the company has committed to use commercially reasonable efforts to prepare, file, and obtain a receipt for a final prospectus qualifying the distribution of the common shares and warrants underlying the special warrants within the mandatory four-month window.

Read the full announcement: Panther Minerals Closes Brokered Private Placement of $3,000,000