On December 14, 2023, Pan American Energy Corp. closed the transaction. The company issued 3,720,000 flow-through units for gross proceeds of CAD 1,860,000.

Each warrant entitling the holder to acquire one common share at a price of CAD 0.65 until December 13, 2025. All securities issued in connection with the closing of the offering are subject to a statutory hold period, in accordance with applicable securities laws, expiring on April 14, 2024. The company paid cash finder?s fees totaling CAD 130,200 and issued 260,400 finder?s warrants entitling the holder thereof to acquire one non-flow-through common share at an exercise price of CAD 0.65 until December 13, 2025.

The company has received $2,970,350 (CAD 3,920,178.8195) from single investor pursuant to exemption provided under Regulation D.