Panoro Minerals Ltd. Announces Closing of First Tranche of Brokered LIFE Offering for Gross Proceeds of C$2.9 Million

Core Viewpoint - Panoro Minerals Ltd. has successfully closed the first tranche of its private placement, raising gross proceeds of C$2,918,200 through the sale of 7,295,500 units at a price of C$0.40 per unit, with plans to utilize the funds for various project developments and working capital [1][3]. Group 1: Offering Details - The first tranche of the offering consists of 7,295,500 units sold at C$0.40 each, totaling C$2,918,200 in gross proceeds [1]. - Each unit includes one common share and one common share purchase warrant, allowing the purchase of an additional common share at C$0.60 until November 21, 2028 [2]. - The offering is being managed by Red Cloud Securities Inc. as the lead agent and Cormark Securities Inc. as co-agent [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for infill drilling, metallurgical testing, pre-feasibility engineering, and an updated preliminary economic assessment for the Cotabambas Copper-Gold-Silver project [3]. - Additional funds will be directed towards working capital and general corporate purposes [3]. Group 3: Regulatory and Compliance - The units were issued under the listed issuer financing exemption, making the common shares and warrants immediately tradeable under Canadian securities legislation [4]. - The final tranche of the offering is expected to close around November 28, 2025, pending approval from the TSX Venture Exchange [6]. Group 4: Broker Compensation - The agents received a cash commission of 6.0% on the gross proceeds from the first tranche and non-transferable common share purchase warrants equivalent to 6.0% of the units sold [5].