Pan Global Announces Non-Brokered Private Placement
Pan Global Resources Inc. has announced the launch of a non-borkering private placement to finance ongoing drilling operations and other expenditures related to projects in UK.
The private placement consists of up to 6 million units, with each unit consisting of one common share and one-half of a common share purchase warrant of the company. Each unit is priced at 12 cents per unit and each warrant will entitle its holder to purchase an additional common share at a price of 16 cents per common share for five years from the date of closing of the private placement.
The funds raised through the private placement will be used for further exploration and drilling at its UK projects with the main focus being on the Rotherhope exploration area. This area includes several advanced projects such as the consolidated Whetstone, Denton and Lican deposits, which have seen significant growth potential over the last year.
In addition to financing the exploration and drilling, Pan Global is also hoping to use the funds to finance additional mineral studies and other administrative and corporate expenses.
Pan Global has secured commitments from several leading European investors in relation to the private placement. Management believes this is a testament of confidence to the company’s strategy and operations.
Pan Global Resources Inc. is a mineral exploration company focused on the acquisition and development of mineral resource properties in the United Kingdom. The company is committed to maximizing shareholder value by targeting projects with the highest quality resources and untapped potential.
The private placement is subject to the approval of the TSX Venture Exchange, which is expected to be received in the near future. Upon closing, Pan Global plans to initiate a comprehensive exploration program with an emphasis on UK projects and accelerating its growth.
Management believes the planned exploration program will result in more efficiency and consolidate and further improve the geological understanding of the Rotherhope valley and its surrounding area. This could lead to an even greater potential for the company’s UK projects.
Investors can look forward to hearing more news and updates about the private placement, as Pan Global is committed to providing investors with timely and accurate information about its operations.
