REG - Panther Metals PLC - Proposed Dual Listing, Loan Settlement & GM

Panther MetalsAnnouncement

12/03/2025 10:45

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RNS Number : 3848A  Panther Metals PLC  12 March 2025

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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 UNITED KINGDOM DOMESTIC LAW PURSUANT
TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (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)

12 March 2025

Corporate Update

Proposed Dual Listing, Loan Settlement & General Meeting

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in
Canada, is providing a corporate update to the market as the Company
investigates a potential dual listing on the Canadian Stock Exchange ("CSE").
The trigger for this process is derived from an advantageous tax environment
for explorers working in Canada and interest in the Company from within the
North American investment community.

 

As a precursor to any dual listing decision Panther has agreed terms to
capitalise its only outstanding debt facilities, comprising the £150,000 of
unsecured convertible loan notes announced 20 November 2023, which carry an
interest rate of 15%. The Company will settle this liability by the issue of
new ordinary shares with warrants attached, on the same economic terms as the
most recent placing announced on 20 January 2025.

 

Subject to shareholder approval, the Company will proceed to 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.

 

Panther is to convene a general meeting to seek authority to issue the
Settlement Shares and the shares underlying the warrants. A circular convening
a general meeting will be sent to all shareholders shortly and a further
announcement made in due course.

 

 

Darren Hazelwood, CEO, commented:

 

"Against the backdrop of the current difficult equity markets, Panther runs
the real risk of a low-ball takeover offer as the mining industry continues to
engage and acknowledge the prospectivity of both the Dotted Lake and Obonga
projects.

 

Attaining a dual listing on the Canadian Stock Exchange would streamline
Panther's access to the advantages of Canada's resource development promoting
and critical mineral focussed tax regime. Flow-Through share financing
provides the means for exploration to flourish in Canada and contributes
nearly 70% of the funds raised on Canadian stock exchanges.

 

The significant finance premium offered by the Canadian Flow-Through and
Critical Mineral tax credit system and the North American investor access
advantages for the Company and shareholders can no longer be ignored as we
advance our portfolio of projects."

 

For the purposes of UK MAR, the person who arranged for the release of this
announcement was Darren Hazelwood, Chief Executive Officer.

 

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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