PGNRF - Pan Global Resources increases private placement offering to C$12M

Due to strong demand, Pan Global Resources (PGNRF) increases 'bought deal' private placement financing from C$10M to C$12M.The underwriters agreed to upsize the offering to 20M shares, with an option for over-allotments for an additional 3M shares for additional gross proceeds of $1.8M.If the over-allotment option is fully exercised, aggregate gross proceeds are expected to be C$13.8M.Offering expected to close on June 4.President and CEO, Tim Moody, comments: "We are very encouraged by the strong demand for the Offering. The additional proceeds will allow us to further accelerate our planned drilling and exploration programs in Southern Spain."

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Pan Global Resources increases private placement offering to C$12M