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Pan Global Resources Inc. Announces Non-Brokered Financing

January 12, 2011
Shares Issued and Outstanding: 16,513,991
TSXV: PGZ

VANCOUVER, BRITISH COLUMBIA – (January 12, 2011) – Pan Global Resources Inc. ("Company") (TSX Venture: PGZ) today announced a non-brokered private placement of 875,000 units (the “Units”) at a price of $0.40 per Unit for aggregate gross proceeds of $350,000 (the “Offering”). Each Unit will be comprised 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 $0.45 for two years from closing of the Offering. The expiry date of the warrants may be accelerated by the Company if the shares of the Company trade at $0.50 or greater for seven consecutive trading days.

A cash finder’s fee of 7.5% plus finders’ warrants equal to 7.5% of the number of Units issued pursuant to the Offering is payable on a portion of the Offering.

The net proceeds of the private placement will be used for general working capital and the acquisition and exploration of lithium properties.

Completion of the private placement is subject to the approval of the TSX Venture Exchange.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Mr. Julian Bavin, CEO and Director       Telephone: 011 56 978095217
Pan Global Resources Inc.                    Email: julianbavin66@gmail.com


The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management

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