Great Panther Mining Ltd GPLDF

**News**

[clyde]

https://www.greatpanther.com/s/NewsReleases.asp?ReportID=195245&_Type=News-Releases&_Title=Great-Panther-To-Raise-4.05-Million-Through-Convertible-Loan-Notes-With-Two... Wed Jul 4, 2007 Great Panther To Raise $4.05 Million Through Convertible Loan Notes With Two British Isles-Based Funds -------------------------------------------------------------------------------- GREAT PANTHER RESOURCES LIMITED (TSX: GPR; "the Company") is raising $4.05 million through the private placement of two Convertible Loan Notes, each of $2,025,000 with City Natural Resources High Yield Trust PLC and New City High Yield Fund Limited of the British Isles. The Notes will bear interest at 8% per annum, payable quarterly, and will mature in 4 years. The Notes will be convertible at the option of the holders into common shares of the Company at the conversion price of $2.25 per share, which is an approximate 25% premium to the market price of the Company's common shares when the decision to enter into the agreements was made. The proceeds from the Notes will be used to accelerate exploration activities at the Mapimi Project in Durango, Mexico where geophysical surveys are outlining several large areas interpreted as buried sulphide mineralization worthy of drill testing; a deep drilling program at the Guanajuato Mine; and for working capital to increase production at the Company's Guanajuato and Topia Mines. The Notes and the 1.8 million common shares issued on conversion will be subject to hold periods expiring 4 months plus one day from the date of the Notes. No commissions or finder's fees are payable. The private placement is subject to acceptance for filing by the TSX. For further information please visit the website at www.greatpanther.com or contact Brad Aelicks at telephone [phone], fax [phone] or e-mail [e-mail]. ON BEHALF OF THE BOARD "Kaare G. Foy" Kaare G. Foy Executive Chairman