en.Wedoany.com Reported - On May 13, 2026, Canadian mineral exploration company Panoro Minerals Ltd. announced the completion of its previously announced private placement, issuing 22,105,263 common shares at a price of C$0.95 per share for aggregate gross proceeds of approximately C$21,000,000. The company plans to use the net proceeds for the exploration and development of the Cotabambas copper-gold-silver project in Peru, as well as for general corporate working capital purposes.

The private placement was completed by a syndicate of agents led by Clarus Securities Inc. as lead agent and sole bookrunner, together with Red Cloud Securities Inc., Agentis Capital Markets, and Raymond James Ltd. As consideration for their services, the agents received a cash commission of approximately C$1,260,000 and 1,326,315 compensation options. Each compensation option is exercisable at a price of C$1.00 per share until May 13, 2027.

Certain directors and officers of the company participated in the private placement, with a total investment of approximately C$271,000. Under Canadian securities regulations, this participation constitutes a related party transaction; however, as the fair value of the securities issued to directors and officers was less than C$2,500,000 and the company's shares are listed on the TSX Venture Exchange, the transaction is exempt from formal valuation and minority shareholder approval requirements.

Panoro Minerals Ltd. is focused on advancing its wholly-owned Cotabambas copper-gold-silver project in Peru. According to the 2024 technical report, the project hosts indicated mineral resources of 507.3 million tonnes grading 0.33% copper, 0.20 g/t gold, and 2.42 g/t silver, at a copper equivalent grade of 0.43%; and inferred mineral resources of 496.0 million tonnes grading 0.27% copper, 0.17 g/t gold, and 2.53 g/t silver, at a copper equivalent grade of 0.36%. The high-grade portion of this resource contains approximately 2.0 billion pounds of copper, 1.8 million ounces of gold, and 17.1 million ounces of silver. The proceeds from this private placement will be primarily used to advance the development of this copper-gold-silver project.

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