VANCOUVER, British Columbia, May 04, 2026 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. ("Panoro" or the "Company") (TSX.V: PML), is pleased to announce that it has entered into an agreement with Clarus Securities Inc. ("Clarus" or the "Lead-Agent"), who has agreed to act as lead agent and sole bookrunner on behalf of a syndicate of agents including Red Cloud Securities Inc., Agentis Capital Markets (First Nations Financial Markets Limited Partnership) and Raymond James Ltd. (together with Clarus, the "Agents"), in connection with a marketed "best efforts" private placement offering, pursuant to Part 5A of National Instrument 45-106, Prospectus Exemptions ("NI 45-106") and Coordinated Blanket Order 45-935 Exemption from Certain Conditions of the Listed Issuer Financing Exemption (collectively, the "Listed Issuer Financing Exemption") for the sale of up to 21,052,632 common shares of the Company ("Common Shares") at a price of C$0.95 per Common Share (the "Offering Price") for aggregate gross proceeds of up to approximately C$20,000,000 (the "Offering").
In connection with the Offering, the Company will pay the Agents a cash commission of 6.0% of the gross proceeds of the Offering (the "Cash Fee") on the closing of the Offering. In addition to the cash fee payable to the Agents, the Company shall issue to the Agents, on the closing of the Offering, compensation options (the "Compensation Options") equal to 6.0% of the aggregate number of Common Shares sold under the Offering. The Compensation Options will entitle the Agents to purchase Common Shares at a price of $1.00 per Common Share, which may be exercised at any time and from time to time, for a period of 12 months following the closing of the Offering.
The net proceeds from the Offering will be used for exploration and development at the Cotabambas Copper-Gold-Silver Project in Peru (the "Cotabambas Project") and for general corporate and working capital purposes.
Closing of the Offering is expected to occur on or about May 13, 2026, or such other date as the Agents and the Company may agree (the "Closing Date"). Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV").
Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Common Shares will be offered for sale to purchasers in each of the provinces of Canada, except Québec, pursuant to the Listed Issuer Financing Exemption. Subject to certain exceptions, the Common Shares are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Common Shares may also be sold in offshore jurisdictions.
There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.panoro.com. Prospective investors should read this Offering Document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in ...
