Placement and Underwritten Rights Issue

Key Details

• Firm commitments received for an initial placement to raise $5 million (before costs)
• Fully underwritten 1 for 13 pro-rata renounceable Entitlement Offer to raise approximately $14.8 million (before costs)
• Offer price of $0.38 per New Share represents a 17.4% discount to last closing share price of $0.46.

Panoramic Resources Limited (ASX:PAN, Panoramic or Company) is pleased to announce that it has received firm commitments for a placement (Initial Placement) to eligible institutional and sophisticated investors of 13.16 million fully paid ordinary shares in the Company (New Shares) at an issue price of $0.38 to raise approximately $5 million (before costs).

The Company is also offering eligible shareholders the opportunity to acquire New Shares through a fully underwritten pro-rata renounceable entitlement issue of one (1) Share for every thirteen (13) Shares (Entitlement Offer) held by eligible shareholders on the Record Date, which under the indicative timetable is Thursday, 21 March 2019, at an issue price of $0.38 per New Share to raise approximately $14.84 million (before costs). Participants in the Initial Placement will be eligible to participate in the Entitlement Offer.