PAN AMERN ENERGY CORP Stock Price, News & Analysis

Pan American Energy Corp. (OTC PINK: PAANF) has announced promising findings from its Phase One drill program at the Horizon Lithium Project. Preliminary assays from five out of eleven drill holes reveal significant lithium mineralization, with notable grades peaking at 2,040 ppm over a 5-foot interval. The drilling program, completed on April 20, 2023, serves to support the company's geological hypothesis regarding the Siebert Formation, known for its high lithium content in adjacent projects. The upcoming Phase Two drilling program aims to further investigate the site, with the potential to declare an inferred mineral resource by the end of the year. The initial data suggests that Horizon could parallel other significant lithium claims in the region, enhancing its commercial viability.

Pan American Energy Corp. announced the successful completion of its spin-out plan, leading to the creation of Legacy Lithium Corp. as of April 21, 2023. Shareholders of Pan American as of 12:01 a.m. on the same date are entitled to receive one new common share of Pan American and one-fifth of a common share of Legacy for each share held. The old Pan American common shares were delisted from the CSE after market close on April 20, 2023, with trading of the new shares commencing on April 21, 2023. Legacy shares will not be publicly traded but will operate as a reporting issuer. Additionally, the company is exploring mineral properties for battery metals, including the Big Mack and Horizon Lithium Projects.

Pan American Energy Corp. (CSE: PNRG, OTC PINK: PAANF) has engaged Clarus Securities Inc. as a financial advisor to enhance its capital market activities. The 12-month agreement will support the company in connecting with institutional investors, strategic partners, and exploring M&A opportunities. CEO Jason Latkowcer expressed confidence in Clarus' ability to add significant value. Pan American, focused on battery metals, owns the Green Energy Lithium Project in Utah and has options for other lithium properties in Nevada and Ontario, positioning itself in a growing market.

On March 22, 2023, Pan American Energy Corp. (OTC PINK: PAANF) announced progress in its Phase I drilling program, having completed six of eleven planned drillholes, totaling 3,297.50 feet of potential lithium-bearing material in the Siebert Formation. Notably, over 86% of drilling has been conducted in this formation, which is known for significant lithium grades. Despite reaching nearly 1,000 feet, the base of the formation has yet to be encountered, suggesting further exploration potential. The company aims to verify these findings with upcoming assay results, expressing optimism about expanding its exploration initiatives.

Pan American Energy Corp. (OTC PINK: PAANF) has partnered with Integrity Mining and Industrial (IMI) to explore sustainable chemistries aimed at enhancing lithium recovery from various sources. The collaboration will involve sharing samples from Pan American's Horizon Lithium and Big Mack properties for testing at IMI's facilities. IMI specializes in bio-based chemicals that replace traditional methods, promoting sustainability in lithium extraction. Jason Latkowcer, CEO of Pan American, emphasizes the commitment to optimizing lithium production processes, while IMI aims to diversify into critical minerals. This partnership reflects a strategic move towards supporting the growing electric and green markets.

Pan American Energy Corp. has announced a Special Meeting of shareholders on April 11, 2023, to vote on a proposed spin-out of its Green Energy Property in Utah. The Meeting Materials have been distributed, detailing the transaction with Legacy Lithium Corp., which aims to unlock the value of the Green Energy Property. Shareholders of record as of February 27, 2023, can vote, with the deadline for proxy returns on April 6, 2023. A 66.67% approval is required for the transaction to proceed. The board recommends voting in favor of the resolution, emphasizing the benefits of separating operations to focus on the advancement of their projects.

Pan American Energy Corp. (OTC PINK: PAANF) has initiated drilling at hole #3, HL022, located near a significant inferred lithium claystone resource deposit in the USA. On February 26, 2023, the company reported 539 feet of continuous potential lithium-bearing claystone at drill hole HL009. The ongoing drilling program is fully permitted and includes a total of 22 holes. CEO Jason Latkowcer expressed optimism about HL022's potential, particularly given its proximity to American Battery Technology Corp's substantial resource deposit of 15.8 million tons of lithium carbonate equivalent.