Great Panther Announces Commencement of Court-Approved Sales and Investment Solicitation Process


VANCOUVER, BC, November 4, 2022 /PRNewswire/ – Great Panther Mining Limited (OTCPK: GPLDK) (“Great Panther” or the “Company”) announces that the Supreme Court of British Columbia (the “Court”), at the request of the Company, has rendered a court order (the “SISP Order”) granting approval of the Company’s proposed sales and investment solicitation process (the “SISP”) involving the Company and, among others, and its owned subsidiary exclusive Mina Tucano Ltda.

The SISP Order, among other things, approves (i) the SISP with respect to Great Panther and the majority of its current and future assets, businesses and properties, and (ii) the appointment of RBC Capital Markets (“RBC”) as as the Company’s sales advisor within the framework of the SISP.

The purpose of the SISP is to maximize the value of the assets of the Company and its subsidiaries (the “Group”) for the benefit of all of its stakeholders, whether in the context of an operation to purchase assets or shares, restructuring, recapitalization or any other form of reorganization of the business, property or affairs of the Group, including, but not limited to, the structure of the debt, shares or capital of the Group, or a combination thereof.

The SISP envisions a two-phase process, where the first phase (“Phase 1”) will involve a broad marketing process ending with the submission of non-binding indicative offers, and the second phase (“Phase 2”) will involve another possibility of due diligence followed by the submission of binding offers. The SISP will primarily take place over a marketing period of approximately twelve (12) weeks in total, with Phase 1 taking place over a period of five (5) weeks.

In order to participate in the SISP and to have access to a virtual data room, any interested person must comply with the terms and conditions set out in the SISP Order and other related documents, which are available on the Comptroller’s website at address https://www.alvarezandmarsal.com/GPR. Parties interested in participating in the SISP should contact RBC at the following email address:

RBC Dominion Securities Inc. Suite 2100, 666 Burrard Street Vancouver, BC V6C 2X8Attention: Michael D. Scott / Scott RedwoodEmail: [email protected] / [email protected]

ABOUT THE GREAT PANTHER

Great Panther Mining is a precious metals producer focused on operating the Tucano gold mine in Brazil, where the company controls a land package covering nearly 200,000 hectares in the future Vila greenstone belt Nova.

CAUTION ABOUT FORWARD-LOOKING INFORMATION

This press 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 (collectively, “forward-looking statements”). These forward-looking statements include, but are not limited to, the Company’s intention to complete the SISP within the time frame contemplated and its ability to maximize the value of the Company’s property for the benefit of all stakeholders.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based on a number of assumptions which, while considered reasonable by the Company, are inherently subject to significant procedural risks. , operational, commercial, economic and regulatory. and uncertainties, including risks relating to the restructuring process and its impact on the Company’s operations and financial conditions, the uncertainty of the ability to obtain protection against all collection and enforcement actions during the legal reorganization proceedings, the uncertainty of the Company’s ability to identify and pursue alternative strategies that will maximize stakeholder value, the Company’s and RBC’s ability to attract investors to participate in the SISP, and the risks described with respect to Great Panther in its most recent Annual Information Form and MD&A filed with the Strators Canadian Securities Administration and available at www.sedar.com and its most recent Annual Report on form 40-F and MD&A on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov.

There can be no assurance that such forward-looking statements will prove to be accurate or that actual results will not differ materially from such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be anticipated, estimated, described or predicted. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements and information are designed to help readers understand management’s current views of our near and long-term prospects and may not be appropriate for other purposes. The Company does not intend and undertakes no obligation to update or revise any forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise. , except to the extent required by applicable law.

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SOURCEGreat Panther Mining Limited

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