TSX-V-listed Pan Global Resources has increased its previously announced nonbrokered private placement, following strong investor support from Canada, the UK and Spain.
The company enlarged its private placement from 8 333 333 units to 14 375 000 units at C$0.12 a share, to raise C$1.725-million. The exploration company originally planned to raise C$1-million.
CEO Tim Moody said that, despite strong demand for the placement, Pan Global would not further increase the placement, as proceeds would be sufficient for its next work programme.
The Vancouver-headquartered company is actively engaged in base and precious metals exploration in Spain and is pursuing opportunities from exploration through to mine development.