Pan Global Resources, a Vancouver-based junior mining company, announced it has closed a $7.2 million private placement with Alpayana Acquisition. The company said these funds will be used to advance its exploration and drill program at the Escacena and Cármenes projects in Spain.
The financing package involved issuing 45 million common shares priced at $0.16. The shares are subject to a hold period expiring Oct. 13, 2026.
Alpayana has raised its stake in Pan Global to 19.55% from 9.61% after acquiring an additional 45 million shares. The company said the report will be posted to SEDAR+ shortly as its ownership has now crossed the 10% disclosure threshold for the early warning report.
Pan Global’s Escacena project spans more than 15,000 hectares in the Iberian Pyrite Belt, near major past‑producing mines. Meanwhile, the Cármenes project covers more than 5,600 hectares on the Rio Narcea Gold Belt, a historic copper-cobalt district now showing gold potential after 2025 drilling results.
Comments