VANCOUVER, British Columbia, May 04, 2026 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (BVL: PML) (FSE: PZM) (OTCQB:POROF) (the "Company") is pleased to announce today that, due to strong demand, it has agreed 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"), to increase the size of its previously announced C$20,000,000 "best efforts" private placement offering. Pursuant to the upsized deal terms, the Agents have agreed to sell, on a "best efforts" private placement basis up to 22,105,263 common shares of the Company (the "Shares") of the Company at a price of C$0.95 per Share (the "Offering Price") for aggregate gross proceeds to the Company of approximately C$21,000,000 (the "Offering"), being within the maximum amount the Company would be eligible to issue 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").
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 amended and restated 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 the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the ...
