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Great Panther Re-Establishes At-The-Market Facility

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TSX: GPR | NYSE American: GPL

VANCOUVER, BC, Oct. 15, 2021 /PRNewswire/ – Great Panther Mining Limited (TSX:GPR) (NYSE-A:GPL) (“Great Panther” or the “Company”), a growing gold and silver producer focused on the Americas, announces that it has entered into an At-the-Market Offering Agreement (the “ATM Agreement”) of up to $25 million (the “Offering” or “ATM Facility”) dated October 15, 2021, with H.C. Wainwright & Co., LLC (the “Agent”). This offering replaces the Company’s prior US$25 Million At-the-Market offering, which expired on August 3, 2021.

An At-The-Market offering is a valuable tool to have in place in order to access the public market at market prices with significantly reduced costs. The Company can determine, at its sole discretion, the date, price and number of common shares of Great Panther (“Common Shares”) to be sold through the Agent under the ATM Facility. The Common Shares will be distributed at prevailing market prices from time to time. Sales of the Common Shares will be made in “at-the-market distributions”, as defined in National Instrument 44-102, directly on the NYSE American Stock Exchange (“NYSE American”) or on any other existing trading market in the United States. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange or other trading markets in Canada.

The Company is not required to sell any Common Shares during the term of the ATM Facility, therefore total gross proceeds from the ATM Facility could be significantly less than US$25 million. The ATM Agreement does not restrict the Company from conducting other financings.

The Company intends to use the net proceeds of the Offering, if any, for the Company’s operational and capital expenditures, debt repayment, to maintain its working capital balances and for general corporate purposes.

The TSX has conditionally approved the ATM Facility. The Common Shares under the ATM Facility have been approved for listing by the NYSE American, subject to notice of issuance.

The Company will pay to the Agent a placement fee for Common Shares sold under the ATM Agreement and will reimburse certain expenses of the Agent. The Offering will be made by way of a prospectus supplement dated October 15, 2021 (the “Prospectus Supplement”) to the Company’s existing Canadian short-form base shelf prospectus (the “Canadian Base Shelf Prospectus”) and U.S. registration statement on Form F-10, as amended (File No. 333-258604) (the “U.S. Registration Statement”), each dated September 10, 2021. The U.S. Registration Statement was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 13, 2021. The Prospectus Supplement has been filed with the British Columbia Securities Commission, as principal regulator of Canada, and the SEC. The Canadian Prospectus Supplement (together with the related Canadian Base Shelf Prospectus) is filed with Canadian securities regulators on SEDAR at www.sedar.com. The U.S. Prospectus Supplement (together with the related U.S. Registration Statement) is available on the SEC’s website at www.sec.gov.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

ABOUT GREAT PANTHER

Great Panther is a growing gold and silver producer focused on the Americas. The Company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, an advanced development project and a large land package with district-scale potential. Great Panther is focused on creating long-term stakeholder value through safe and sustainable production, reinvesting into exploration and pursuing acquisition opportunities to complement its existing portfolio. Great Panther trades on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (together, “forward-looking statements”). Such forward-looking statements may include, but are not limited to, statements regarding (i) whether the Company will issue Common Shares under the ATM Facility, and (ii) if the Company issues shares pursuant to the ATM Facility, the amount of any proceeds and the anticipated use of such proceeds.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: continued operations and exploration work, including plans to complete infill drilling at Tucano, in 2021 occur without significant interruption due to COVID-19 or any other reason; the accuracy of the Company’s geological modeling at Tucano and the assumptions upon which they are based, ore grades and recoveries; prices for gold, silver, and base metals remaining as estimated; currency exchange rates remaining as estimated; stable prices for energy inputs, labour, materials, supplies and services (including transportation) and…



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2021-10-15 22:24:00

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