Panther Metals PLC (LSE:PALM) has appointed Sanlam Private Wealth Pty Ltd and Kerr Allan as joint lead managers for the proposed listing of the company’s subsidiary Panther Metals Ltd on the Australian Securities Exchange.
Panther Metals Ltd has also raised A$300,000 to fund the listing process.
As a result of the financing, the interest of Panther Metals PLC in Panther Metals Ltd has reduced from 89% to 77%.
"Panther Metals PLC (LSE:PALM)’s strategy is now fully in play as we head into an exciting autumn for our shareholders and the company,” said chief executive Darren Hazelwood.
“Divesting our Australian assets, due to the overwhelming geological evidence of their high nickel and gold prospectivity, whilst maintaining a significant stake in a well-funded vehicle as we advance our Canadian portfolio, has been a key aim of the business in 2021.”