08:32 AM EDT, 10/18/2024 (MT Newswires) -- Pan Global Resources ( PGZFF ) said Friday that it boosted its previously announced private placement to $7 million from $3 million due to strong institutional demand.

The offering now comprises up to 58,333,333 units at $0.12 apiece. Each unit will consist of one share and one-half of a non-transferable warrant. Each whole warrant can be exercised at $0.16 per share for 18 months.

Pan Global is advancing the Escacena project in Spain that hosts its La Romana copper-tin-silver and Canada Honda copper-gold discoveries.

"In addition to a lead order from a strategic partner in Spain, Pan Global has received a further commitment from a prominent European resource fund for a significant portion of the financing," President and CEO Tim Moody said. "Pan Global's mineral rights in southern Spain are ideally located in a top-tier copper mining region, where the number of active mines and development projects continue to grow."