VANCOUVER, British Columbia — December 23, 2025 — Leads & Copy —
Panoro Minerals Ltd. (TSX.V: PML) has announced the closing of the second and final tranche of its previously announced private placement for gross proceeds of C$520,000. The company sold 1,300,000 units at a price of C$0.40 per unit in the Second Tranche.
The aggregate gross proceeds from the sale of 8,595,500 units at the Offering Price reached C$3,438,200. Red Cloud Securities Inc. served as lead agent and sole bookrunner, while Cormark Securities Inc. acted as co-agent.
Each unit consists of one common share of the company and one common share purchase warrant. Each warrant allows the holder to purchase one common share at a price of C$0.60 until November 21, 2028.
Panoro intends to allocate the net proceeds from the offering to infill drilling, metallurgical testing, pre-feasibility engineering, and the completion of an updated preliminary economic assessment for the Cotabambas Copper-Gold-Silver project. The funds will also be used for working capital and general corporate purposes.
The units were issued to Canadian purchasers under National Instrument 45-106 – Prospectus Exemptions, specifically the listed issuer financing exemption. The common shares and warrants, along with the warrant shares, are immediately freely tradeable per Canadian securities legislation.
The agents received a cash commission equal to 6.0% of the gross proceeds from the sale of units under the Second Tranche, as consideration for their services. They also received non-transferable common share purchase warrants equal to 6.0% of the number of units sold under the Second Tranche. These broker warrants are exercisable into one common share at the Offering Price until December 23, 2028.
An offering document dated December 22, 2025, related to the Second Tranche of the Offering, is available on www.sedarplus.ca and on the Company’s website.
The closing of the offering is subject to the final approval of the TSX Venture Exchange.
According to the release, Panoro remains focused on completing its technical objectives including project optimization studies which will feed into a PEA and help define the scope for the prefeasibility study for its Cotabambas Project.
Panoro is engaged in early-stage discussions of potential strategic alternatives with several parties to advance the Cotabambas Project into construction and operation.
Luquman Shaheen, President & CEO
Email: info@panoro.com
Source: Panoro Minerals Ltd.
