Pan Global Resources Inc.
TSX VENTURE : PGZ

Pan Global Resources Inc.

February 24, 2012 15:09 ET

Pan Global Resources Inc. Completes Non-Brokered Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2012) - Pan Global Resources Inc. (the "Company") (TSX VENTURE:PGZ) today announced that it has completed its previously announced non-brokered private placement (the "Offering") and issued an aggregate of 5,877,499 units (the "Units") at a price of $0.60 per Unit for gross proceeds of $3,526,500.00. The offering was oversubscribed by more than $500,000.00.

Each Unit consists of one common share and one-half (1/2) of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.80 for two years from closing of the Offering.

All securities issued with respect to the Offering are subject to a hold period expiring June 23, 2012. The Offering is subject to the final approval of the TSX Venture Exchange.

Finder's fees of cash in an amount equal to 6.0% of proceeds and finder's warrants ("Finder's Warrants") equal to 6.0% of the number of Units issued were paid to three finders on a portion of the offering. Each Finder's Warrant will be exercisable to acquire one common share for a period of two years from closing of the Offering at $0.80 per share. A cash-only finder's fee of 6.0% was also paid to one finder.

The proceeds of the private placement will be used primarily to further the Company's exploration program in the Republic of Serbia undertaken by our exploration partner, Lithium Li Holdings Inc.

Shares Issued and Outstanding: 22,501,482

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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