Equity Raising Announcement by Panther Metals Ltd

Panther Metals Ltd (ASX:PNT) has successfully completed an underwritten renounceable entitlement offer, raising $1.96 million, with additional support from new institutional and professional investors. The company also conducted a follow-on placement, raising $261,000 to accommodate excess demand. The total amount raised after the follow-on placement stands at $2.22 million, providing the company with ample funds to undertake its planned 7,000m drilling program at the Laverton Gold Project.

Executive Commentary on Equity Raising

We would like to thank Cumulus Wealth and our existing shareholders for the overwhelming support they have shown during this Entitlement Offer, demonstrating their commitment to the Company and shared enthusiasm for our future. We also welcome our new shareholders and are excited as we refocus our attention back to the Laverton Gold Project, drilling 7,000m over 10 target areas. Burtville East is the first target. Finally, the extra placement will leave the Company well-funded to follow up on any new intercepts and/or discoveries that may result from the LGP drill campaign.

Summary of Panther Metals' Equity Raising

Panther Metals Ltd (ASX:PNT) has successfully completed an underwritten renounceable entitlement offer, raising $1.96 million, with additional support from new institutional and professional investors. The company also conducted a follow-on placement, raising $261,000 to accommodate excess demand, bringing the total amount raised to $2.22 million. The funds will be used to undertake a 7,000m drilling program at the Laverton Gold Project, advance metallurgical studies for the Coglia Nickel-Cobalt project, and cover general working capital and costs associated with the capital raising. Shareholder approval for the issue of the follow-on placement options and the sub-underwriter options will be sought at a general meeting to be held in November 2024. Panther Metals remains focused on its exploration and development activities across its projects in Western Australia and the Northern Territory.