#Canada #Vancouver #Pan Global #Escacena Project #Alpayana

Pan Global Resources Closes $7.2 Million Private Placement

Overview
Pan Global Resources Inc. has officially closed its previously announced non-brokered private placement, raising an impressive $7.2 million in collaboration with Alpayana. This strategic move aims to enhance Pan Global's exploration endeavors in Spain, particularly focusing on its Cármenes and Escacena Projects.

Details of the Placement
The recent private placement involved the issuance of 45 million common shares at a price of CAD 0.16 each, resulting in significant proceeds intended for future exploration. With this transaction completed, Alpayana now owns 19.55% of the outstanding shares of Pan Global Resources. Notably, no finder’s fees were paid in relation to this offering.

Use of Proceeds
The funds obtained from this private placement are earmarked for a substantially expanded exploration and drilling program, particularly at the Escacena and Cármenes projects. These areas include the newly acquired and promising Escacena South property located in southern Spain, along with capital for general corporate purposes.

Addressing Shareholder Dynamics
Before the acquisition, Alpayana held 35 million common shares, representing 9.61% of Pan Global’s total issued shares. With the conclusion of the acquisition, their economic stake rose to 80 million shares, yielding a total of 19.55%. This acquisition also triggers the requirement for an early warning report by Alpayana, which will be filed as per the guidelines specified in National Instrument 62-104, ensuring full compliance and transparency.

Expansion Plans and Project Insights
Pan Global Resources remains steadfast in its pursuit of copper-rich mineral properties alongside gold and other valuable metals. The company’s flagship Escacena project boasts significant mineral rights stretching over 15,000 hectares, located in the Iberian Pyrite Belt, one of Europe’s most significant copper mining regions. This project includes promising mineral resource estimates from copper-tin-silver deposits and additional high-potential targets.

Project Highlights

1. Escacena Project
- Mineral Resource Estimates:
- La Romana: 32.4 million tons containing copper, tin, and silver.
- Cañada Honda: Significant gold and copper findings
- Geographically positioned near operational mines enhancing its investment potential.

2. Cármenes Project
- Located in the identifiable gold belt of Rio Narcea, this project is rich in historical mining activities and remains 100% owned by Pan Global.
- Encouraging initial drilling results indicate substantial potential for new discoveries, particularly in gold.

Conclusion
Pan Global Resources is set on a promising path with its newly acquired capital. The strategic partnership with Alpayana reinforces the company’s commitment to sustainable growth and exploration in Spain’s rich mineral landscape. The favorable outlook for copper and gold, driven by global demand for electrification and sustainable energy transition, positions Pan Global favorably in the resource sector. Investors and stakeholders eagerly await further developments as the company advances its exploration efforts in this vibrant region.

For more insights on Pan Global Resources and their ongoing projects, you can visit their website at www.panglobalresources.com.