|Fri Feb 24, 2012|
Panthera Closes Private Placement
-NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO OR THROUGH US NEWSWIRE SERVICES-
Panthera Exploration Inc. (TSX-V: PNX, FRA: GAC, WKN: A0RK7E, "Panthera" or the "Company") is pleased to announce that it has received regulatory approval from the TSX Venture Exchange for the Company's non-brokered private placement (the "Financing") originally announced in the Company's news release dated January 6, 2012.
The Company will issue 1,250,000 units at a price of $0.20 per unit, for gross proceeds to the Company of $250,000. Each unit will consist of one common share and one transferrable warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the Company at a price of $0.30 per share for 18 months. Directors and officers of the Company have subscribed for a portion of the Financing.
Proceeds from the private placement will be used to advance the Company's Fierro exploration project in Rio Negro, Argentina, general working capital and business development. All securities to be issued in the Financing are subject to a four month hold period under applicable Canadian securities laws, expiring on June 25, 2012.
Finders' fees are payable on a portion of the Financing to parties at arm's length to the Company; cash fees of $280.00 and, 1,400 finders' warrants exercisable into common shares at $0.30 per share expiring on August 23, 2013.
About Panthera Exploration Inc.
Panthera is a Vancouver-based iron ore exploration company led by an industry-renowned management team with technical expertise and market experience. Panthera has entered into an option agreement, subject to regulatory approval, to earn 100% interest in the Fierro high-grade iron ore project, located in Rio Negro, Argentina located immediately adjacent to the producing Minera Sierra Grand iron mine, owned by Metallurgical Corporation of China Ltd. Management is planning an aggressive exploration program at Fierro and continues to evaluate acquisitions to build its property portfolio with a focus on iron ore projects with established value and significant upside potential. Panthera is a member of the Grosso Group, a management company specializing in resource exploration since 1993.
ON BEHALF OF THE BOARD
Dr. Gerald Carlson, President & CEO
For further information please contact:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation to sell any securities in the United States. The securities have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
You can view the Next News Releases item: Mon Feb 27, 2012, Panthera Changes Name to Iron South Mining Corp.
You can view the Previous News Releases item: Fri Jan 6, 2012, Panthera Announces Private Placement
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