Panther Minerals Closes Quebec Flow-Through Private Placement
Vancouver - Panther Minerals Inc. ("Panther Minerals" or the "Company") (CSE:PURR) (OTC:GLIOF) (FWB:2BC), is pleased to announce that the Company has completed its previously announced non-brokered private placement (the "Private Placement") of Quebec Flow-Through Shares ("QFT Shares") for gross proceeds of C$154,000 through the sale of 3,080,000 QFT Shares at a price of C$0.05 per QFT Share. The QFT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")). The gross proceeds from the Private Placement will be used to incur "Canadian exploration expenses" that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) related to the Company's East Brouillan property, located in the Abitibi province of Quebec.
The QFT Shares issued pursuant to the Private Placement are subject to a four month and one day hold period expiring May 1, 2025 pursuant to National Instrument 45-106 - Prospectus Exemptions. The Company paid finder's fees to an arms-length party of $9,000 in cash and 180,000 broker warrants (each, a "Broker Warrant"). Each Broker Warrant entitles the holder to acquire one common share at C$0.05 for two (2) years from the date of issue, in accordance with the policies of the Canadian Securities Exchange (the "Exchange").
About Panther Minerals Inc.
Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Robert Birmingham, Chief Executive Officer
For more information please visit: www.pantherminerals.ca or email info@pantherminerals.ca.
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Forward-Looking Information
This news release may contain statements which constitute "forward?looking information". The words "may", "potential", "should", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, are intended to identify such forward?looking statements. Such statements include, without limitation, statements regarding use of proceeds from the private placement and the payment of finder's fees. Investors are cautioned that any such forward?looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward?looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation's Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.
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