REG - Panther Metals PLC - Loan Settlement, Equity Issue, Total Voting Rights

Panther MetalsAnnouncement

04/04/2025 07:00

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RNS Number : 4393D  Panther Metals PLC  04 April 2025

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 FOR IMMEDIATE RELEASE

PANTHER METALS PLC

("Panther" or the "Company")

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

4 April 2025

Loan Settlement, Equity Issue & Total Voting Rights

Further to the announcement made on 12 March 2025 (RNS 3848A) Panther Metals
PLC (LSE:PALM) the company focused on mineral exploration in Canada, will
allot, issue, and admit to listing, a combined total of 362,250 shares at an
issue price 50p (the "Settlement Shares") and deliver 362,250 warrants with an
exercise price of 75p to the former holders of the loan notes. The warrants
will have a life of 3 years and be subject to an "accelerator" requiring the
warrants to be exercised should the Panther share price exceed £1.50 at any
time over a period of 20 trading days following the date of the issue of the
warrants.

 

Authority to issue the Settlement Shares and the shares underlying the
warrants was approved by shareholders on 2 April 2025.

 

When issued, the Settlement 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 Settlement Shares.

 

Application will be made to the Financial Conduct Authority ("FCA") for
admission of the Settlement Shares to the equity shares (transition) category
of the Official List maintained by the FCA and to the London Stock Exchange
(the "LSE") for admission to trading of the Consideration Shares on the LSE's
Main Market for listed securities (together "Admission"). It is expected that
Admission will take place at 8.00 a.m. on 8 April 2025 and that dealings in
the Consideration 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
5,593,400 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 5,593,400. 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.

 

 

 

For further information please contact:

 

 

Panther Metals PLC:

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

 
+44(0) 7971 957 685

Brokers:

Tavira Financial Limited

Christopher James
Kipling                               +44(0) 203
833 3743

SI Capital Limited

Nick Emerson
                         +44(0) 1438 416 500

 

Notes to Editors

Panther Metals PLC is an exploration company listed on the main market of
the London Stock Exchange. Panther is focussed on the discovery of
commercially viable mineral deposits. The Company's operational focus is on
established mining jurisdictions with the capacity for project scalability.
Drill targets are assessed rapidly utilising a combination of advanced
technologies and extensive geological data to decipher potential commercial
viability and act accordingly. Panther's current geological portfolio
comprises of three highly prospective properties in Ontario, Canada.

Obonga Project

Panther Metals acquired the Obonga Greenstone Belt in July 2021 and have
already identified five prospective primary targets: Wishbone, Awkward,
Survey, Ottertooth and Silver Rim. A successful Phase 1 drilling campaign at
Wishbone in Autumn 2021 revealed the presence of significant VMS-style
mineralised systems on the property - the first such discovery across the
entire greenstone belt. Intercepts include 27.3m of massive sulphide in hole
one, and 51m of sulphide-dominated mineralisation in hole two. Both drill
holes contained multiple lenses. Anomalous high-grade copper in lake sediment
close to the target area has also been identified, increasing confidence in
the prospectivity of the location.

Awkward is a highly anomalous magnetic target, interpreted to be a layered
mafic intrusion and magmatic conduit based on mapped geology and airborne
geophysics. Historic sampling in the area returned anomalous platinum and
palladium (Pt, Pd) values, while historic drilling on the periphery of the
target intersected non-assayed massive sulphide and copper (assumed to be
chalcopyrite), non-assayed disseminated pyrite and chalcopyrite in coarse
gabbro, and non-assayed 'marble cake' gabbro (matching the description of the
Lac des Iles Mine varitexture gabbro ore zone).

Two additional named targets, Survey and Ottertooth, both displays further
coincident magnetic and electromagnetic anomalies and are adjacent to the
contact between intrusive and extrusive mafic rocks. Historic drilling at
Survey intersected several meters of massive sulphides in multiple
intersections (main parts of the anomaly remain untested) while Ottertooth
remains untested in its entirety.

Dotted Lake Project

Panther Metals acquired the Dotted Lake Project in July 2020, it is
situated approximately 16km from Barrick Gold's renowned Hemlo Gold Mine. An
extensive soil programme conducted in 2021 identified numerous gold and base
metal targets, all within the same geological footprint. Following the
installation of a new trail providing direct access to the target location, an
initial drilling programme in Autumn 2021 confirmed the presence of gold
mineralisation within this system with anomalous gold continuing along strike
and present within the surrounding area.

Fulcrum Metals Plc

Fulcrum Metals PLC (LON: FMET) is an AIM listed exploration company which
finances and manages exploration projects focused on Canada, widely recognised
as a top mining jurisdiction.

 

Fulcrum's strategy is to focus on discovery and commercialisation of its
Projects through targeted exploration programmes. The primary focus is to make
an economic discovery on the flagship Schreiber-Hemlo Properties and
establishing the prospectivity of its wider Ontario and Saskatchewan portfolio
with a view to securing potential joint venture and/or acquisition interest.

 

Panther Metals Plc own 12.38% of the issued share capital of Fulcrum Metals
Plc and a 2% NSR on the Big Bear project.

Conclusion

Panther Metals understand that the commercial realities of building an
exploration company requires expertise in geology, finance, and the markets
within which they operate. The Company's extensive network of industry leaders
allows it to meet these objectives. Ultimately however, drilling success is
the only route to discovery: the fundamental objective of any exploration
company. Once Panther's world-class geological team identify the anomalies,
they work hard to get drilling. The drill hole is the only place where
substantial and sustained capital growth originates and it's with that
operational focus Panther Metals will continue to advance.

 

 

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