REG - Panther Metals PLC - Strategic Fundraise

Panther MetalsAnnouncement

09/02/2026 07:00

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RNS Number : 1608S  Panther Metals PLC  09 February 2026

THIS ANNOUNCEMENT ("ANNOUNCEMENT") AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, SINGAPORE, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE
PROHIBITED BY ANY APPLICABLE LAW.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU, WHICH IS PART OF THE DOMESTIC LAW OF THE UNITED
KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND ("UK") 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. MARKET SOUNDINGS WERE TAKEN
FROM CERTAIN PERSONS IN RELATION TO THE PLACING. THIS INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE
TO BE IN POSSESSION OF INSIDE INFORMATION.

 FOR IMMEDIATE RELEASE

 

 

 

 

Panther Metals plc

("Panther Metals" or "Company")

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

 

9 February 2026

Financing to Accelerate Strategic Project Activities

Panther Metals (LSE: PALM), the exploration company focused on mineral
projects in Canada, is pleased to announce that it has raised gross proceeds
of £1,190,000 (before expenses) through a placing of 1,700,000 ordinary
shares of no par value ("Ordinary Shares"; the "Placing Shares") at a price of
70 pence (the "Placing Price") per Placing Share (the "Placing").

The Placing, which received substantial backing from new and existing
institutional investors and existing shareholders of the Company, was
significantly oversubscribed and subject to scale back.

Darren Hazelwood, Chief Executive Officer, commented:

"The financing announced today, enables Panther Metals to accelerate its
activities across the entire project portfolio which is timed well as the
Company looks to a North American exchange dual list.

These activities include a diamond drilling campaign focussed on building out
the Wishbone VMS discovery at Obonga, advancing the Wishbone Tailings Project
workstreams towards a Feasibility Study and metallurgical studies on the
Dotted Lake drill core as a potential source of high-value magnesium.

Accelerating these work streams meets our corporate objectives to grow the
value of the business for the benefit of all shareholders."

Placing details

The Placing Shares will represent approximately 24.3% of the existing issued
Ordinary Share capital of the Company. The Placing Price represents a 6.67%
discount to the mid-market closing price of the Company's shares on 5 February
2026, being the latest practicable date prior to the publication of this
announcement. The UK prospectus regime was updated in January 2026, increasing
the secondary issuance prospectus threshold from 20% to 75% of existing share
capital.

Optiva Securities Ltd ("Optiva") is acting as placing agent in connection with
the Placing. The Company has today entered into a broker agreement with Optiva
pursuant to which, on Admission, Optiva will be appointed as joint broker to
the Company.

Use of proceeds

The net proceeds of the Placing will enable the Company to accelerate key
corporate and exploration objectives including:

·    Obonga Project drilling:

 

o  Wishbone Prospect diamond drilling programme to build out Volcanogenic
Massive Sulphide system discovery.

 

·    Magnesium Recovery Metallurgical Testwork:

 

o  Dotted Lake Project drill core composite sample to undergo magnesium
recovery focussed metallurgical testwork.

 

·    Winston Tailings Project:

 

o  Advance the workstreams to quantify, evaluate, and permit the recovery of
the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn),
indium (In), copper (Cu) and cobalt (Co) and other recoverable minerals
located within the historic Winston Lake Mine tailings storage facility.

 

·    Supporting a dual listing in North America and general corporate
working capital.

Admission and Total Voting Rights

Application will be made for the Placing Shares to be admitted to trading on
the main market for listed securities of London Stock Exchange plc
("Admission"). It is anticipated that Admission will become effective, and
that dealings in the Placing Shares will commence, at 8.00 a.m. (London time)
on 16 February 2026.

The Placing Shares will, when issued rank pari passu in all respects with the
existing issued Ordinary Shares of the Company.

Immediately following Admission, and in accordance with the FCA's Disclosure
Guidance and Transparency Rule 5.6.1, the Company's total issued share capital
will comprise 8,683,986 Ordinary Shares, each with one vote. This figure may
be used by shareholders in the Company 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 share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules.

The person responsible for releasing this announcement pursuant to UK MAR is
Darren Hazelwood, Chief Executive Officer of the Company.

 

 

Enquiries:

 Panther Metals plc

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

                                           +44 (0) 203 981 4193
 Optiva Securities Limited

 Christian Dennis

 Mick McNamara
 Hybridan LLP (Broker)
 Claire Louise Noyce                         +44 (0)203 764 2341

 SI Capital Limited
 Nick Emerson                                +44 (0)1438 416 500

Obonga Project - Expanding Canada's Next VMS and Critical Minerals District

Panther Metals' Obonga Project in Ontario continues to demonstrate significant
potential as a leading exploration initiative targeting both base and critical
minerals. Since acquiring the Obonga Greenstone Belt in July 2021, the Company
has rapidly advanced five high-priority targets: Wishbone, Awkward, Survey,
Ottertooth, and Silver Rim.

In June 2024, Panther secured a key Exploration Permit for the Wishbone
Prospect, valid through 2027, authorizing extensive drilling and geophysical
surveys. Previous campaigns confirmed compelling volcanogenic massive sulphide
(VMS)-style mineralisation, highlighted by intercepts such as 27.3m of massive
sulphide and 51m of sulphide-dominated mineralisation with multiple
mineralised lenses. High-grade copper anomalies in lake sediment further
enhance the prospectivity of this landmark target.

July 2024 saw Panther awarded an Exploration Permit for Awkward West,
supporting an aggressive exploration program including up to 31 drill holes.
Historic drilling here revealed notable graphite mineralisation-27.2m at 2.25%
Total Graphitic Carbon (TGC) with zones exceeding 5% TGC-alongside promising
signs of nickel, copper, and platinum group elements, aligning with Panther's
strategic focus on critical minerals.

Additional exploration efforts include high-resolution magnetic geophysical
surveys across key prospects, optimizing drill targeting and advancing the
geological model. Survey and Ottertooth remain highly prospective, with
multiple magnetic and electromagnetic anomalies and historic intercepts of
massive sulphides, many targets still largely untested.

Obonga's combination of VMS-style base metals and critical mineral potential,
situated in a stable and mining-friendly jurisdiction with strong
infrastructure, positions Panther Metals to unlock a district-scale mineral
system with significant commercial upside.

Dotted Lake Project - Hemlo-Adjacent Gold Opportunity with Growing Momentum

Panther Metals' Dotted Lake Project, acquired in July 2020, lies just 16km
from Barrick Gold's renowned Hemlo Mine, in one of Canada's premier
gold-producing regions. The project offers a strategically located and
scalable gold exploration play.

Initial soil sampling in 2021 identified numerous gold and base metal targets,
and subsequent access improvements facilitated an initial drilling program
that confirmed gold mineralisation with anomalous values extending along
strike.

In early 2025, Panther completed a follow-up campaign featuring detailed
geological mapping, trenching, and targeted diamond drilling. These efforts
extended mineralisation both laterally and at depth, identified new structural
controls, and reinforced the potential for a broader, high-grade gold system.
Multiple zones have been prioritised for expanded drilling, underscoring
Dotted Lake's significant upside.

The project's proximity to established infrastructure and Hemlo's extensive
mining operations, combined with robust recent results, makes Dotted Lake a
key asset in Panther's growth portfolio.

Commercial Strategy - Discovery-Driven Value Creation

Panther Metals is committed to creating substantial shareholder value through
focused exploration and disciplined capital management. The Company combines
deep geological expertise with an understanding of market and financing
dynamics to advance high-potential projects efficiently.

With access to a global network of industry leaders and a rigorous operational
focus on drilling, Panther prioritises activities that directly contribute to
discovery and resource growth. The drill hole remains the ultimate validation
in mineral exploration, and Panther's strategy is to fast-track world-class
targets into drill-ready assets - delivering tangible results that underpin
long-term value creation for shareholders.

Important Legal Information

The contents of this announcement have been prepared by, and are the sole
responsibility of, the Company.

This Announcement does not constitute, contain or form part of any offer of
transferable securities to the public within the meaning attributed to that
phrase by section 102B of Financial Services and Markets Act 2000 (as amended)
("FSMA").

The Placing Shares have not been and will not be registered under the U.S.
Securities Act 1933, as amended ("U.S. Securities Act") or under the
applicable state securities laws of the United States of America, its
possessions or territories, any state of the United States of America and the
district of Columbia or any area subject to its jurisdiction or any political
subdivision thereof ("United States" or "U.S.") and may not be offered or sold
directly or indirectly in or into the United States. No public offering of the
Placing Shares is being made in the United States. The Placing Shares are
being offered and sold outside the United States in "offshore transactions",
as defined in, and in compliance with, Regulation S of the U.S Securities Act
to non-U.S. persons (within the meaning of Regulation S of the U.S. Securities
Act). In addition, the Company has not been, and will not be, registered under
the U.S. Investment Company Act of 1940, as amended. In addition, the Placing
Shares have not been nor will be registered in Australia, Canada, Japan, or
the Republic of South Africa or in any country, territory or possession where
to do so may contravene local securities laws or regulations.

This announcement may contain forward-looking statements. The forward-looking
statements include, but are not limited to, statements regarding the Company's
or the Directors' expectations, hopes, beliefs, intentions or strategies
regarding the future. In addition, any statement that refers to projections,
forecasts or other characterisations of future events or circumstances,
including any underlying assumptions, is a forward-looking statement. The
words "anticipate", "believe", "continue", "could", "estimate", "expect",
"intend", "may", "might", "plan", "possible", "potential", "predict",
"project", "seek", "should", "would" and similar expressions, or in each case
their negatives, may identify forward-looking statements, but the absence of
these words does not mean that a statement is not forward-looking.

Forward-looking statements include all matters that are not historical facts.
Forward-looking statements are based on the current expectations and
assumptions regarding the Company, the business, the economy and other future
conditions. Because forward-looking statements relate to the future, by their
nature, they are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Forward-looking statements are
not guarantees of future performance and the Company's actual financial
condition, actual results of operations and financial performance, and the
development of the industries in which it operates or will operate, may differ
materially from those made in or suggested by the forward-looking statements
contained in this announcement. In addition, even if the Company's financial
condition, results of operations and the development of the industries in
which it operates or will operate, are consistent with the forward-looking
statements contained in this announcement, those results or developments may
not be indicative of financial condition, results of operations or
developments in subsequent periods. Important factors that could cause actual
results to differ materially from those in the forward-looking statements
include regional, national or global, political, economic, social, business,
technological, competitive, market and regulatory conditions.

Any forward-looking statement contained in this announcement applies only as
of the date of this announcement and is expressly qualified in its entirety by
these cautionary statements. Factors or events that could cause the Company's
actual plans or results to differ may emerge from time to time, and it is not
possible for the Company to predict all of them. The Company expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this announcement to
reflect any change in its expectations or any change in events, conditions or
circumstances on which any forward-looking statement contained in this
announcement is based, unless required to do so by applicable law.

No prospectus, offering memorandum, offering document or admission document
has been or will be made available in any jurisdiction in connection with the
matters contained or referred to in this announcement and no such document is
required (in accordance with Regulation (EU) No 2017/1129 or the Public Offers
and Admissions to Trading Regulations 2024) to be published.

 

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