Closing of Flow Through Share Fundraise

Panther Metals PLC

16 October 2026

 

THIS ANNOUNCEMENT ("ANNOUNCEMENT") AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SINGAPORE, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND ("UK") PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

FOR IMMEDIATE RELEASE

PANTHER METALS PLC

("Panther Metals" or the "Company")

(Incorporated and registered in the Isle of Man with company number 009753V)

16 October 2026

Closing of Flow Through Share Fundraise

Panther Metals (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to announce the closing of the Canadian flow-through share offering announced on 9 October 2026 (the "Flow-Through Placing").

The Flow-Through Placing has raised gross proceeds of GBP£2,220,000/CAD$4,158,064 through the issue of 980,398 units (the "FT Units") at an issue price of CAD$4.24 (£2.26) per FT Unit. Each FT Unit is comprised of one ordinary share (each an "FT Share") and one-half of one ordinary share purchase warrant (each whole warrant, a "Warrant") of the Company, each of which qualifies as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada). Each Warrant entitles the holder to subscribe for one new ordinary share in the capital of the Company at a price of £2.67 for a period of 36 months from the closing date. The FT Shares rank pari passu in all respects with the existing issued ordinary shares of the Company. Following closing, SI Capital Limited has facilitated the secondary sale of the FT Units to select institutional investors by way of the UK Block Trade described in the announcement of 9 October 2026

The proceeds of the Flow-Through Placing will be used to incur Qualifying Expenses (as defined in the announcement of 9 October 2026), which will be renounced to subscribers in accordance with the Income Tax Act (Canada), and will not be used for working capital purposes. The Flow-Through Placing will primarily support the continuation of the Phase 1 diamond drilling programme at the Wishbone VMS Prospect on the Obonga Project, northwest Ontario, Canada into 2027.

Darren Hazelwood, Chief Executive Officer, commented:

"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.

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.

I would like to personally thank everyone involved in bringing this transaction to a successful conclusion. A considerable amount of work has gone into establishing a structure that has the potential to benefit not only Panther, but other UK-listed explorers seeking to develop Canadian mineral assets.

We have not simply completed a financing; we believe we have opened a door that has not previously been used by solely UK-listed explorers. That is something everyone involved should be extremely proud of."

The person responsible for releasing this announcement pursuant to UK MAR is Darren Hazelwood, Chief Executive Officer of the Company.

For further information, please contact:

Panther Metals PLC: Darren Hazelwood, Chief Executive Officer:	[phone]                                                         [phone]
Brokers:
Optiva Securities Limited Mick McNamara	[phone]
Hybridan LLP Claire Louise Noyce	[phone]
SI Capital Limited Nick Emerson	[phone]

Important Legal Information

The contents of this Announcement have been prepared by, and are the sole responsibility of, the Company. This Announcement does not constitute, contain or form part of an offer of transferable securities to the public.

The FT Units have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or under the applicable state securities laws of the United States of America, its possessions or territories, any state of the United States of America and the District of Columbia or any area subject to its jurisdiction or any political subdivision thereof ("United States" or "U.S.") and may not be offered or sold directly or indirectly in or into the United States absent registration or an applicable exemption from registration. No public offering of the FT Units is being made in the United States. The FT Units are being offered and sold outside the United States in "offshore transactions", as defined in, and in compliance with, Regulation S under the U.S. Securities Act to persons who are not "U.S. persons" (within the meaning of Regulation S under the U.S. Securities Act). In addition, the Company has not been, and will not be, registered under the U.S. Investment Company Act of 1940, as amended (the "U.S. Investment Company Act"), and investors will not be entitled to the benefits of the U.S. Investment Company Act. The FT Units have not been and will not be registered in Australia, Canada, Japan, Singapore, the Republic of South Africa or in any other jurisdiction where to do so may contravene local securities laws or regulations.

This Announcement may contain forward-looking statements. The forward-looking statements include, but are not limited to, statements regarding the Company's or the Directors' expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statement that refers to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "seek", "should", "would" and similar expressions, or in each case their negatives, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current expectations and assumptions regarding the Company, the business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements are not guarantees of future performance and the Company's actual financial condition, actual results of operations and financial performance, and the development of the industries in which it operates or will operate, may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Company's financial condition, results of operations and the development of the industries in which it operates or will operate, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of financial condition, results of operations or developments in subsequent periods. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global, political, economic, social, business, technological, competitive, market and regulatory conditions.

Any forward-looking statement contained in this Announcement applies only as of the date of this Announcement and is expressly qualified in its entirety by these cautionary statements. Factors or events that could cause the Company's actual plans or results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this Announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which any forward-looking statement contained in this Announcement is based, unless required to do so by applicable law, the FCA's Prospectus Rules: Admission to Trading on a Regulated Market sourcebook, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the FCA or the UK MAR.

 

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