en.Wedoany.com Reported - Canadian junior mining company Pan Global Resources has completed a $7.2 million private placement by issuing 45 million common shares to Alpayana Acquisition at a price of $0.16 per share. The funds will be used to advance exploration and drilling operations at the company's Escacena and Cármenes projects in Spain.

The issued shares are subject to a lock-up period, expected to expire on October 13, 2026. With this additional purchase of 45 million shares, Alpayana's stake in Pan Global has increased from 9.61% to 19.55%. The company noted that due to the shareholding ratio exceeding the 10% early warning disclosure threshold, a related report will be filed with the SEDAR+ system shortly. Pan Global's two projects are located in two major metallogenic belts in Spain: the Escacena project is situated in the Iberian Pyrite Belt, covering approximately 15,000 hectares and surrounded by several large historical producing mines; the Cármenes project is located in the Rio Narcea Gold Belt, spanning over 5,600 hectares, originally a historical copper-cobalt mining area, with 2025 drilling results further revealing gold exploration potential.

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