Black Panther Closes Private Placement
News Release No: 12-06
Trading symbols:
TSX-V: BPC Frankfurt: BP4
Black Panther Closes Private Placement
West Vancouver, British Columbia – November 8, 2012 – Black Panther Mining Corp. (the “Company” or “Black Panther”) is pleased to announce that, further to its news release dated September 13, 2012, the Company has closed tranche 1 and tranche 2 of its non-brokered private placement (the “Private Placement”). The Company has raised $253,000 by the issuance of 2,480,000 non-flow through units (the “Units”) and 2,580,000 flow through units (the “FT Units”) at $0.05 per Unit and $0.05 per FT Unit. Each Unit consists of one non-flow through common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share for a period of two years at an exercise price of $0.10 and each FT Unit consists of one flow through share and one non-flow through share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share for a period of two years at an exercise price of $0.10. In connection with this Private Placement, finders’ fees of $15,000 were paid, and as well, 300,000 finders’ warrants were issued. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on March 1, 2013 (for tranche 1) and March 8, 2013 (for tranche 2).
The Company intends to use the proceeds from this Private Placement for the next phase of exploration on the Company’s Olsen gold exploration property project in Ontario and for general working capital purposes.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.blackpanthermining.com.
BLACK PANTHER MINING CORP.
“Douglas L. Mason”
_________________________________ Douglas L. Mason, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release