Fulcrum Metals PLC has announced that Panther Metals plc has sold 2,346,717 ordinary shares in the company, representing 15.26% of the issued share capital. Panther will continue to hold 7,625,122 ordinary shares following the transaction. Panther has entered into a new lock-in agreement with the company, imposing a hard lock-in period on the shares until May 2025 and an orderly market provision until May 2026.
The new agreement with Panther is considered a related party transaction and has been deemed fair and reasonable by the directors of Fulcrum Metals. Ryan Mee, Chief Executive Officer of Fulcrum, expressed his pleasure with Panther's commitment, stating that it demonstrates confidence in Fulcrum's position and opportunities. He also emphasized the positive and progressive business relationship between the two companies.
Fulcrum Metals PLC is an AIM quoted exploration company focused on mineral exploration and development in Canada. The company holds a 100% interest in gold and base metals projects in Ontario and uranium projects in Saskatchewan. Their strategy is to focus on discovery and commercialization of projects through targeted exploration programs, with a primary focus on the flagship Schreiber-Hemlo Properties. These properties have a history of prospecting and local extraction, and Fulcrum aims to fully explore their significant prospectivity through a coherent property-level exploration program.