Panther Metals plc has raised gross £600,000 via a discounted placing by its chief executive officer Darren Hazelwood for one million new ordinary shares, which he intends to sell to certain investors.
RETAIL OFFER
The issued shares represent around 17% the company’s existing issued ordinary share capital.
The discount is of 11% to the closing mid-market price of 67.50 pence per ordinary share on 27 October 2025.
Panther said it was currently unable to issue and admit the placing shares without either the publication of an FCA-approved prospectus or relying upon an exemption to do so.
Mr Hazelwood will therefore sell the placing shares to certain investors allocated by Hybridan LLP which acts as agent for and on behalf of the company.
The company is holding a separate retail offer for existing shareholders of up to 166,667 new ordinary shares, at a price of 60 pence per share, to raise up to £100,000.
The retail offer is conditional on completion of the placing.
Admission of the placing and retail shares is expected on 31 October 2025.
Panther intends to use the fundraise proceeds to produce a mineral resource estimate for the Winston polymetal tailings project in Ontario, Canada.