$PURR.CN

Panther Minerals Closes CA$3 Million Private Placement

Panther Minerals (PURR.CN) after trade Friday said it closed a CA$3 million brokered private placement, issuing six-million units and six-million special warrants.Both the units and special warrants were priced at CA$0.25 each, generating CA$1.5 million in gross proceeds from each, it added.Each unit includes one common share and one warrant. Each warrant allows the holder to buy one additional common share at CA$0.33 per share for 24 months from the closing date, according to the statement.The company said it plans to use the net proceeds to explore and develop its East Brouillan Property, including drilling and geophysical work, as well as for general working capital purposes.