|Fri Jan 6, 2012|
Panthera Announces 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 a non-brokered private placement financing of up to 1,250,000 units at a price of $0.20 per unit for aggregate proceeds up to $250,000.
Each unit will be comprised of one common share and one transferable warrant. Each warrant will entitle the holder, on exercise, to purchase one additional common share of the Company at a purchase price of $0.30 per warrant share for 18 months from the date of issue of the warrant.
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. Insiders of the Company may participate in a portion of the financing. A finder's fee may be payable on a portion of this financing. This financing is subject to regulatory approval and the private placement securities will be issued subject to a minimum four-month hold period from the date of issuance.
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, Interim 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: Fri Feb 24, 2012, Panthera Closes Private Placement
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