Pan American Energy Corp. Announces C$3 Million Private Placement
CALGARY, Alberta — Pan American Energy Corp. (CSE: PNRG) (OTCQB: PAANF) is excited to share its plans for a non-brokered private placement designed to raise up to C$3 million. This initiative includes the offering of 4 million units at C$0.50 each, alongside 1,538,462 flow-through units priced at C$0.65 each, creating a significant opportunity for investors.
Details of the Offering
Each unit within the offering will consist of one common share and one share purchase warrant. The warrants will allow investors to purchase additional shares at C$0.65 for a period of two years. The flow-through units will similarly include a common share recognized as a tax-efficient investment under the Canadian Income Tax Act, along with a warrant.
Use of Proceeds
Funds from the non-flow through offering will primarily go towards exploration expenses tied to the Company's existing projects, as well as general working capital needs. The proceeds from the flow-through units will fund Canadian exploration expenses, promising an exciting potential for the mining sector through valuable flow-through tax incentives.
Regulatory Approvals
The offering awaits necessary regulatory approvals, especially from the Canadian Securities Exchange. Closing is anticipated to occur around mid-September, subject to all approvals being secured.
Implications for Investors
This strategic financing approach highlights Pan American Energy's commitment to exploring North America's mineral resources, particularly in battery metals critical to the evolving energy landscape. All issued securities will be mandated to follow a statutory holding period.
About Pan American Energy Corp.
Pan American Energy is an exploration-stage company focused on acquiring, exploring, and developing mineral properties rich in battery and critical metals across North America. The company has made notable strides with option agreements in promising locations.
Exciting Project Partnerships
A remarkable aspect of Pan American's strategy is its acquisition of a 75% interest in the Big Mack Lithium Project, situated 80 km north of Kenora, Ontario. The company also aims to boost its portfolio through an agreement with Northern Critical Minerals Corp. for the Tharsis REE Project located in the Northwest Territories, signaling ambitious growth plans.
Contact Information
For more information, please reach out to Pan American Energy’s CEO, Adrian Lamoureux:
Phone: (587) 885-5970
Email: info@panam-energy.com
Frequently Asked Questions
What is the purpose of the C$3 million private placement?
The private placement aims to finance exploration expenses and working capital needs for the company's ongoing projects.
How many units are being offered in the private placement?
Pan American Energy intends to offer up to 4 million units and 1,538,462 flow-through units as part of this financing strategy.
What is included in each unit of the offering?
Each unit consists of one common share and one share purchase warrant, with the warrant allowing purchase of an additional share at C$0.65 for two years.
What are flow-through units?
Flow-through units provide investors with tax advantages by allowing them to deduct exploration expenses from taxable income.
Who can I contact for more information regarding the offering?
Please contact CEO Adrian Lamoureux at (587) 885-5970 or via email at info@panam-energy.com for further inquiries.
