Black Panther Closes Private Placement
July 7, 2010
West Vancouver, British Columbia – Black Panther Mining Corp. (the “Company” or “Black Panther”) is pleased to announce that, further to its news releases dated May 20 and June 17, 2010, Black Panther has closed its non-brokered private placement (the “Private Placement”). The Company has raised $305,000 by the issuance of 1,525,000 flow through units (the “FT Units”) at a price of $0.20 per unit. Each FT Unit consists of one flow through common share and one half of a share purchase warrant, with each whole warrant entitling the holder to purchase an additional non-flow through common share at a price of $0.30 for a period of one year from the closing date. In connection with this Private Placement, finders’ fees were paid in the amount of $28,000. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on October 30, 2010. 1,400,000 of the FT Units were acquired by the MineralFields Group for an aggregate of $280,000.
The Company intends to use the proceeds from the Private Placement for furthering the exploration of the Company’s mineral exploration properties.
For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s new website at www.blackpanthermining.com.
BLACK PANTHER MINING CORP.
“Douglas L. Mason”
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Douglas L. Mason, Director
Neither the 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.
