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TSXV: PGZ,OTC:PGZFF | OTCQB: PGZFF | FRA: 2EU
Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ,OTC:PGZFF) (OTCQB: PGZFF) (FRA: 2EU) announced the exercise of 7,205,495 share purchase warrants prior to their expiry on May 6, 2026, for gross proceeds of $1,152,879. Each warrant converted to one common share at a price of $0.16 per share.
Pan Global remains debt-free and plans to double the scale of its exploration and resource delineation drilling at the Escacena and Cármenes Projects following the closing of the recently announced $7.2 million financing with its strategic investor Alpayana.
"Pan Global appreciates the support of long-term shareholders who have added to their investments with the exercise of warrants. Funds raised will bolster the active exploration and resource delineation work at the Escacena and Cármenes Projects where multiple high-priority targets are being tested in 2026," said Tim Moody, Pan Global President and CEO.
Use of proceeds from the warrant exercise will be to advance the exploration work at the Escacena and Cármenes Projects in Spain, and for general working capital purposes.
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.
The Company's flagship Escacena Project, hosting La Romana and Cañada Honda copper-tin-gold mineral resources, is in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Company's second project, at Cármenes in northern Spain, is an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mining operations. Pan Global Resources is committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
To learn more about Pan Global Resources, please visit the Company's Curation Connect showcase and explore AI-generated responses to your enquiries at https://app.curationconnect.com/company/Pan-Global-Resources-44037?utm_source=pg_mediareleases
Forward-looking statements
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Pan Global Resources Inc.
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