Pan American Energy Files Amended Offering Document Ahead
Pan American Energy Corp's Recent Developments
In a notable recent development, Pan American Energy Corp. (CSE: PNRG | OTCQB: PAANF) has taken a crucial step by filing an amended offering document. This document outlines a unique financing initiative known as the Common Share Private Placement. The amended offering could provide a considerable boost to the company's exploration efforts within North America.
Details of the Amended Offering Document
The amended offering document highlights Pan American Energy's intention to issue a minimum of 2,416,667 common shares. Each share is priced at C$0.18, aiming for a total gross proceeds of C$435,000. The flexibility of the offering allows for the potential issuance of up to 4,350,000 shares, raising a total of C$783,000 if fully subscribed.
Complementing Warrant Private Placement
Alongside the Common Share Private Placement, the company is planning a Warrant Private Placement. This initiative aims to issue up to 4,850,000 common share purchase warrants, with an exercise price set at C$0.18 and a placement price of C$0.05 per warrant. This combined approach not only diversifies the funding strategy but may also attract a broader investor base.
Anticipated Closing of the Offerings
The closing of these private placements is projected to occur around the end of the month. However, it is contingent upon fulfilling several necessary regulatory conditions. Successfully closing these placements will signal a vital injection of capital into Pan American Energy's ongoing projects, primarily intended for exploration activities at the Big Mack Property.
Use of Proceeds from the Placements
The financing obtained through these placements is earmarked for various purposes. These include exploration activities at the Big Mack Property, general administrative costs, and bolstering working capital. This strategic allocation may significantly enhance the company's operational capabilities and prospects in the competitive mineral exploration landscape.
The LIFE Exemption and Wider Access
It's important to note that the common shares under the Common Share Private Placement will be offered without resale restrictions in all provinces of Canada, except Quebec, thanks to the listed issuer financing exemption. This regulatory pathway is designed to facilitate broader access for investors interested in supporting Pan American Energy's growth story.
About Pan American Energy Corp
Pan American Energy is an exploration stage company focused on acquiring, exploring, and developing valuable mineral properties that feature battery metals. This specific focus aligns with the growing demand for sustainable energy solutions and the increasing importance of battery technologies in various sectors.
Get Involved with Pan American Energy
Investors interested in staying updated with Pan American Energy can register for investor updates via their corporate website. Engaging with the company could provide firsthand insights into their evolving strategies and opportunities within the industry.
Contact Information
For inquiries, prospective investors and interested parties can reach out to CEO Adrian Lamoureux. For direct communication, contact details are provided below:
Phone: (587) 885-5970
Email: info@panam-energy.com
Frequently Asked Questions
1. What does the amended offering document entail?
The amended offering document outlines a private placement for issuing common shares and warrants aimed at financing various exploration activities.
2. How many common shares are set to be issued?
Pan American Energy plans to issue a minimum of 2,416,667 common shares at a price of C$0.18 each.
3. What is the purpose of the private placement?
The proceeds from the private placement will support exploration projects, general administrative needs, and enhance working capital.
4. Are there any resale restrictions on the shares?
No, the Common Shares issued under this offering are not subject to resale restrictions for investors in Canada, excluding Quebec.
5. How can investors stay updated on company news?
Investors can register for updates on Pan American Energy's website to receive the latest information and announcements directly.
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