Pan Global Resources Inc. announced a non-brokered private placement of 10,000,000 units at a price of CAD 0.20 per unit for the gross proceeds of CAD 2,000,000 on October 4, 2023. Each unit will consist of one common share and one non-transferable common share purchase warrant entitling the holder to purchase one additional common share at a price of CAD 0.30 for a period of three years from closing of the offering. The common shares issued pursuant to this private placement will be subject to a four-month hold period in Canada and will be subject to U.S. resale restrictions under U.S. securities laws.

The offering is scheduled to close on or about October 31, 2023 and is subject to the approval of the TSX Venture Exchange.