- Pan American Energy Corp. (PNRG) has closed a non-brokered private placement for gross proceeds of approximately C$8,000,000
- The company issued 10,000,000 units and 4,615,384 flow-through units
- Net proceeds raised from the offering will be used to fund potential acquisitions and for general working capital
- Pan American Energy Corp. is an exploration-stage company
- Pan American Energy Corp. (PNRG) opened trading at C$0.72
Pan American Energy Corp. (PNRG) has closed its previously announced non-brokered private placement for gross proceeds of approximately C$8,000,000.
The company issued 10,000,000 units for $0.50 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one additional common share at an exercise price of C$0.75 for a period of two years.
The company also issued 4,615,384 flow-through units for C$0.65 unit. Each flow-through unit consists of one FT share and one common share purchase warrant. Each FT warrant is exercisable into one share at an exercise price of C$0.85 for a period of two years.
The company intends to use the net proceeds raised from the offering for potential acquisitions and general working capital.
Pan American Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties in North and South America.
Pan American Energy Corp. (PNRG) opened trading at C$0.72.
