Pan American Announces Private Placement for up to C$3.5M

Press Release

Calgary AB – Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is pleased to announce a non-brokered private placement for gross proceeds of up to C$3,500,000 (the “Offering”). The Offering is expected to consist of the offering of up to 8,750,000 units of the Company at a price of $0.40 per unit (each, a “Unit”), with each Unit comprised of one common share of the Company (each, a “Share”) and one Share purchase warrant of the Company (each, a “Warrant”) entitling the holder to acquire one Share (each, a “Warrant Share”) at a price of C$0.55 per Warrant Share for a period of twenty-four months.

The Company intends to use the net proceeds raised from the Offering for general and administrative expenditures, investor awareness and promotional expenditures and general working capital purposes. All securities issued in the Offering will be subject to a statutory four month and one day hold period. Closing of the Offering is subject to the Company’s receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. The Offering is expected to close on or about November 7, 2023.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Pan American Energy Corp.

Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FSE: SS60) is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

The Company executed an option agreement in Canada with Magabra Resources, providing for the right to acquire up to a 90% interest in the drill-ready Big Mack Lithium Project, 80 km north of Kenora, Ontario. The Company has also entered a property option agreement with Horizon Lithium LLC providing for the right to acquire a 100% interest in the Horizon Lithium Project, located within Esmeralda County – Tonopah Lithium Belt, Nevada, USA.

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On Behalf of the Board of Directors
Jason Latkowcer
CEO & Director

Contact
Phone : (587) 885-5970
Email: info@panam-energy.com

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