Panther Metals (PALM ) has completed itsCanadian flow-through share offering announced on 9 October 2026.
The flow-through placing raised gross proceeds of just over £2.2 million at an issue price of C$4.24 or £2.26 per unit.
Each unit is comprised of a share and half a £2.67 warrant.
The money raised will be used to incur qualifying expenses under the terms of flow-through regulations, and these will be renounced to subscribers in accordance with the Income Tax Act (Canada), and will not be used for working capital purposes.
Accordingly, the flow-through placing will primarily support the continuation of the Phase 1 diamond drilling programme at the Wishbone prospect on the Obonga project, northwest Ontario, Canada into 2027.
"The successful completion of this flow-through financing represents a significant milestone for Panther Metals and, we believe, establishes a new funding pathway for UK-listed exploration companies operating in Canada,” said Darren Hazelwood, chief executive of Panther.
“This is a remarkable achievement for the company, demonstrating what can be accomplished through innovation, determination and a willingness to challenge established financing conventions. I have always been prepared to challenge accepted norms where there is a clear financial benefit to doing so, and this transaction is a perfect example of that approach. The benefits are clear: access to a highly attractive source of exploration capital for the company, enhanced funding efficiency for shareholders and tax advantages for eligible Canadian subscribers.”
View from Vox
Panther’s tilt towards Canada continues, with a big new slug of Canadian shareholders now providing the funding for the next phase of work at the highly prospective Wishbone target in Ontario. Panther has been working at Wishbone for a while, and the signs so have been very favourable. It now looks set to move up to the next level.