Pan Global Resources Raises $7.2 Million in Private Placement with Alpayana USA.

Pan Global Resources has raised $7.2 million in a private placement with Alpayana USA, a strategic investor. The funding will be used to double the current drilling plan to 20,000 meters and expand and accelerate exploration at the Escacena and Cármenes projects. The company will not proceed with previously announced warrants extension.

Pan Global Resources Inc. (TSX-V: PGZ; OTCQB: PGZFF; FRA: 2EU) has completed a non-brokered private placement with Alpayana, a strategic investor, raising C$7.2 million through the issuance of 45,000,000 common shares at C$0.16 per share. As a result of the transaction, Alpayana will hold approximately 19.9% of the company's outstanding shares. The company has also decided not to proceed with the previously announced warrant extension, urging existing warrant holders to exercise their rights before the May 6, 2026 expiry date.

The proceeds from the private placement will be allocated to expand and accelerate exploration activities at the company's Escacena and Cármenes projects in Spain. Specifically, the funding will be used to double the current drilling plan to 20,000 meters. Key initiatives include extending the Cañada Honda copper-gold deposit, conducting a heliborne geophysics survey in the Escacena South area, and follow-up drilling at the Cármenes Project.

Alpayana, a family-owned mining group with over 39 years of operations in Peru and Mexico, is known for its disciplined project development and commitment to sustainable mining practices. The company's investment is seen as a strategic endorsement of Pan Global's exploration potential in Spain, particularly in the Iberian Pyrite Belt and the Rio Narcea Gold Belt.

The offering remains subject to final approval by the TSX Venture Exchange.