Panorama Resources Ltd.

April 23, 2008 14:07 ET

Panorama Resources Ltd. Reports Closing of IPO and Listing on TSX.V

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2008) - Panorama Resources Ltd., (the "Company") reports that it has completed its initial public offering in which gross proceeds of $625,000 were raised through the issuance of 2,500,000 common shares at a price of $0.25 per share. The offering was made under the Company's prospectus dated March 12, 2008 which is available on the SEDAR website (www.sedar.com).

Research Capital Corporation ("Research") acted as agent for the offering. In connection with the offering, the Company paid a cash commission equal to 10% of the gross proceeds, an administration fee and agent's options to acquire 10% of the number of shares sold under the offering at a price of $0.25 for a period of two years.

The Company also reports that the TSX Venture Exchange has accepted the Company's listing application. Trading in the Company's common shares will commence at the opening on Thursday, April 24, 2008 (the "Listing Date") under the symbol PRA.

The board of directors consists of David Patterson (Chairman), Harvey Keats (CEO), Robin Adair (VP Exploration), Paul Lathigee and Ken Thorsen. Colin Watt is the Company's CFO.

The Company holds a 100% interest in the Ketchum Lake copper-gold property, located in British Columbia. The Company intends to spend approximately $236,500 on a Stage I work program consisting of detailed geological mapping, geochemical surveys and hand trenching. The stage I program is expected to begin in July.

ON BEHALF OF THE BOARD OF DIRECTORS

PANORAMA RESOURCES LTD.

David Patterson, Chairman

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Panorama Resources Ltd.
    David Patterson
    Chairman
    (604) 684-6535
    (604) 602-9311 (FAX)