Pan Global Resources Secures $7.2 Million Financing from Alpayana
Vancouver-based Pan Global Resources has closed a non-brokered private placement with Alpayana, raising C$7.2 million through the issuance of 45 million common shares. The transaction increases Alpayana's stake in the exploration company to 19.55%, providing fresh capital to accelerate drilling operations across its Spanish mining projects.
The capital injection will fund an expanded exploration program at the company’s Escacena and Cármenes projects in Spain. Pan Global plans to focus on the Escacena South property, a highly prospective area within the Iberian Pyrite Belt, alongside general corporate requirements. The shares issued in the financing are subject to a hold period extending until October 13, 2026.
Following this acquisition, Alpayana now controls 80 million common shares of the company, up from its previous holding of 35 million. Under Canadian securities regulations, this shift in ownership necessitated an early warning disclosure, which the firm expects to file on SEDAR+ shortly. Pan Global maintains that the transaction was conducted in the ordinary course of business for investment purposes.
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