Overview of Pantera Minerals' successful capital raise

Pantera Minerals Limited (ASX: $PFE) has successfully completed a capital raise of A$3.45 million through the issuance of 98,443,152 new shares at A$0.035c per share. The placement, oversubscribed and led by CPS Capital Group Pty Ltd, received firm commitments from family offices, high net worth investors, existing shareholders, and company management. The funds raised will be utilized for further leasing, well re-entry, and subsurface work with the aim of completing a JORC-compliant resource in 2024.

Executive Chairman and CEO's perspective on the capital raise

We are immensely grateful for the overwhelming demand and support received for this capital raise by CPS Capital, which unmistakably underscores the market's recognition of the extraordinary potential inherent in Pantera's Smackover Lithium Brine Project. The Project, located in North America's new Lithium Capital, the Arkansas's Smackover, represents not just an opportunity for Pantera, but a stride towards securing a sustainable future powered by lithium. This robust vote of confidence from our investors and supporters galvanises our commitment to not only meeting but exceeding expectations, as we pioneer advancements in lithium extraction and contribute to the global energy transition. Thank you to everyone who shares our vision and has joined us on this remarkable journey.

Summary of Pantera Minerals' capital raise and future plans

Pantera Minerals has successfully completed a capital raise of A$3.45 million, demonstrating strong market recognition of the potential of its Smackover Lithium Brine Project. The funds raised will be used for further leasing, well re-entry, and subsurface work with the aim of completing a JORC-compliant resource in 2024. The Project, situated in the Arkansas's Smackover, is positioned to contribute to the global energy transition by pioneering advancements in lithium extraction. With the successful completion of the capital raise, Pantera Minerals is well-positioned to progress its lithium brine project and play a significant role in the sustainable future powered by lithium.