Panther Metals PLC (PALM) Non-Brokered Placing

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada and Australia, is pleased to announce the completion of a private placing for a total of 1,666,666 ordinary shares (the “Placing Shares”) at a price of 12p following an unsolicited approach from two high net worth investors raising a total of £200,000.

The Placing Price of 12 pence per share represents parity to the middle market price at the time at which Panther and the two investors agreed the terms of the placing. This represents a premium of 20% above the Company’s last fund raising in December 2020 and a 7.7% discount to the mid-market closing price on 19 April 2021 (being the date on which the placing price was agreed).

When issued, the Placing Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares in the share capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares.

Application has been made to the Financial Conduct Authority (“FCA”) for admission of the Placing Shares to the standard listing segment of the Official List and to the London Stock Exchange (the “LSE”) for admission to trading of the Placing Shares on the LSE’s Main Market for listed securities (together “Admission”). It is expected that Admission will take place at 8.00am on 23 April 2021 and that dealings in the Placing Shares on the LSE’s main market for listed securities will commence at the same time.

Total Voting Rights

Following Admission, the Company’s total issued share capital consists of 59,529,085 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.

Therefore, following Admission, the total number of voting rights in Panther Metals plc is 59,529,085. This figure may be used by shareholders 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 Company under the FCA’s Disclosure Guidance and Transparency Rules.

Darren Hazelwood, Chief Executive Officer, commented:

“Panther Metals is working towards the completion of a structure that gives the business both flexibility and focus to advance multiple projects, in order to achieve long term growth in the exploration sector. This Placing, with experienced investors, demonstrates confidence whilst the additional capital will help underpin the business and advance our plans in some key areas. I look forward to updating the market on those steps in the very near future”.

For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of Panther is Darren Hazelwood, Chief Executive Officer.

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