RAB Special Situations (fka RAB)

[Tackler]

PAF Pan African Mining 1.5-million-share private placement

2005-07-18 16:19 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to Pan African Mining Corp.'s non-brokered private placement announced April 12, 2005, and July 11, 2005.

Shares: 1.5 million shares

Purchase price: $1 per share

Warrants: 750,000 share purchase warrants to purchase 750,000 shares

Placees: Two placees

Insider: RAB Special Situations LP one million

Finders' fees: Credifinance Securities Ltd. will receive $50,000 and 80,000 warrants, where each warrant is exercisable for one share at a price of $1.20 per share for a one-year period. Canaccord Capital Corp. will receive $25,000 and 40,000 warrants, where each warrant is exercisable for one share at a price of $1.20 per share for a one-year period.