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Panoro Minerals Ltd Announces CAD15 Million Bought Deal Public Equity Financing

Wednesday, 20 Feb 2013 07:24am EST 

Panoro Minerals Ltd announced that it has entered into an agreement with Canaccord Genuity Corp. as lead underwriter on behalf of a syndicate of underwriters pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 27,300,000 common shares of the Company at a price of CAD0.55 per Common Share (the Offering Price) for gross proceeds of CAD15,015,000. The Company will also grant the Underwriter an over-allotment option to purchase an additional 4,095,000 common shares of the Company (the Over-Allotment Common Shares, and together with the Common Shares, the Offered Securities) at the Offering Price and on the same terms as the Offering, exercisable at any time, in whole or in part, for a period of 30 days after and including the closing date of the Offering. If the Over-Allotment Option is exercised in full, an additional CAD2,252,250 will be raised pursuant to the Offering, for total aggregate gross proceeds of CAD17,267,250. The Company intends to use the net proceeds from the Offering to fund the continued exploration and development of the Company's Cotabambas Project as well as for working capital and general corporate purposes. The Offering is expected to close on or about March 14, 2013. 

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-0.05 -19.23%
19 Dec 2014