Pan American Closes LIFE Offering and Concurrent Private Placement Offering

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CALGARY, Alberta, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTCQB: PAANF) (FRA: SS6) is pleased to announce that it has closed its previously announced non-brokered private placement of charity flow-through units of the Company (“Charity FT Units”) and non-flow-through units of the Company (“NFT Units”), and its previously announced concurrent non-brokered private placement of units of the Company (“Units”) as further set out below.

LIFE Offering

The Company closed the non-brokered private placement of (i) 1,333,333 Charity FT Units at a price of C$0.75 per Charity FT Unit, and (ii) 2,000,000 non-flow-through units of the Company (“NFT Units”) at a price of C$0.50 per NFT Unit, for aggregate gross proceeds of C$2,000,000 (the “LIFE Offering”), pursuant to the “listed issuer financing exemption” under Part 5A of National Instrument 45-106 Prospectus Exemptions (“NI 45-106”), as amended by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (“Coordinated Blanket Order”).

Each Charity FT Unit consists of one “flow-through share” (“FT Share”) within the meaning of the Income Tax Act (Canada) (“Tax Act”) and one common share (“Common Share”) purchase warrant (“CFT Warrant”), with each CFT Warrant entitling the holder thereof to acquire one Common Share at a price of $0.85 for a period of 24 months from the issuance. The CFT Warrants comprising the Charity FT Units under the LIFE Offering are subject to a 60-day hold period.

Each NFT Unit consists of one non-flow-through common share in the capital of the Corporation (previously defined as a “Common Share”) and one Share purchase warrant (“NFT Warrant”), with each NFT Warrant entitling the holder thereof to acquire one Common Share at a price of $0.65 for a period of 24 months from the date of issuance. The NFT Warrants comprising the NFT Units under the LIFE Offering are subject to a 60-day hold period.

The gross proceeds from the issuance and sale of the Charity FT Units will be used to incur “Canadian Exploration Expenses” that are intended to qualify as “flow-through mining expenditures” as those terms are defined under the Tax Act. The gross proceeds from the issuance and sale of the NFT Units will be used for exploration expenses in respect of the Company’s existing exploration projects and for general working capital purposes.