Panthera Closes Private Placement
Panthera Exploration Inc. (TSX-V: PNX, FRA:
GAC, WKN: A0RK7E, "Panthera" or the
"Company") is pleased to announce that it has received regulatory
approval from the TSX Venture Exchange for the Company's non-brokered private
placement (the "Financing") originally announced in the Company's
news release dated January 6, 2012.
The Company will issue 1,250,000 units at a price of $0.20 per unit, for gross
proceeds to the Company of $250,000. Each unit will consist of one common share
and one transferrable warrant. Each warrant will entitle the holder to purchase
one additional common share in the capital of the Company at a price of $0.30
per share for 18 months. Directors and officers of the Company have subscribed
for a portion of the Financing.
Proceeds from the private placement will be used to advance the Company's Fierro exploration project in Rio Negro, Argentina, general
working capital and business development. All securities to be issued in the
Financing are subject to a four month hold period under applicable Canadian
securities laws, expiring on June 25, 2012.
Finders' fees are payable on a portion of the Financing to parties at arm's
length to the Company; cash fees of $280.00 and, 1,400 finders' warrants
exercisable into common shares at $0.30 per share expiring on August 23, 2013.
About Panthera Exploration Inc.
Panthera is a Vancouver-based iron ore
exploration company led by an industry-renowned management team with technical
expertise and market experience. Panthera has entered
into an option agreement, subject to regulatory approval, to earn 100% interest
in the Fierro high-grade iron ore project, located in
Rio Negro, Argentina located immediately adjacent to the producing Minera Sierra Grand iron mine, owned by Metallurgical
Corporation of China Ltd. Management is planning an aggressive exploration
program at Fierro and continues to evaluate
acquisitions to build its property portfolio with a focus on iron ore projects
with established value and significant upside potential. Panthera
is a member of the Grosso Group, a management company
specializing in resource exploration since 1993.
ON BEHALF OF THE BOARD
"Gerald
Carlson"
Dr. Gerald Carlson, President & CEO