2008-08-21 15:58:00
VANCOUVER, BRITISH COLUMBIA–(EMWNews – Aug. 21, 2008) – Mr. David Patterson, Chairman of Panorama Resources Ltd. (TSX VENTURE:PRA), announces the closing of its non-brokered private placement totalling $169,950.
These funds were raised by the Company issuing a total of 366,500 flow-through shares and 200,000 non flow-through shares. In addition, a total of 566,500 share purchase warrants were issued. Each share purchase warrant entitles the holder to acquire one additional non flow-through common share of the company at a price of $0.30 per share until August 14, 2010.
The funds raised by way of the private placement will be used for exploration programs on the Company’s Ketchum Lake Project in northern BC and for general working capital.
In addition, the Company reports that field work on its Ketchum Lake Property is scheduled to begin in the next few days. The summer 2008 program will consist of geological mapping and soil geochemical surveys designed to define the extent of historic porphyry style, copper-gold mineralization in the central part of the property. Field work is expected to be completed by mid October and results will be announced as they become available.
ON BEHALF OF THE BOARD OF DIRECTORS
PANORAMA RESOURCES LTD.
David Patterson, Chairman
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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For more information, please contact Panorama Resources Ltd. |
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