Completion of Retail Entitlement Offer

Panoramic Resources Limited (ASX: PAN, “Panoramic”, or “Company”) is pleased to announce the successful completion of the retail component (“Retail Entitlement Offer”) of its underwritten accelerated non-renounceable pro-rata entitlement offer (“Entitlement Offer”) of 1 new fully paid ordinary Panoramic share (“New Share”) for every 6 existing fully paid ordinary Panoramic shares (“Existing Shares”) as announced on 5 December 2019.

The total amount raised under the Entitlement Offer is $32.7 million. This includes the previously announced institutional component of the Entitlement Offer, which completed on 9 December 2019 and raised approximately $3.9 million.

Panoramic believes that the strong support seen for the Entitlement Offer highlights clear shareholder and new investor recognition of the long-term value potential of the Company.