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Panoro Announces Termination of Antilla Project Agreement With Chancadora Centauro
Sep. 29, 2010 10:17AM PST
Base Metals Investing Panoro Minerals Ltd. (CVE:PML) announced that it has informed Chancadora Centauro S.A.C. of the termination of its contract for the Antilla Copper-Molybdenum Project in Peru, in conformance with the terms of the contract which was signed in April of this year.
Panoro Minerals Ltd. (TSXV:PML) announced that it has informed Chancadora Centauro S.A.C. of the termination of its contract for the Antilla Copper-Molybdenum Project in Peru, in conformance with the terms of the contract which was signed in April of this year.
The press release is quoted as saying:
The Company is pleased to announce it has arranged a non-brokered private placement of up to 8,000,000 units at $0.25 per unit for gross proceeds of up to $2,000,000. Each unit is comprised of one common share and one half share purchase warrant. Each whole warrant is exercisable at a price of $0.35 per common share for a period of 18 months from the closing date of the financing. The Company reserves the right to issue an overallotment of up to 2,000,000 units for additional gross proceeds of up to $500,000.
Click here to access the entire press release