Pantera Completes Sale of Smackover Project to EnergyX Valued at Approximately US$26 Million (A$40 Million)

Sale positions Pantera with cash and EnergyX equity to accelerate its U.S. critical minerals growth strategy.

LITTLE ROCK, AR, UNITED STATES, October 2, 2025 /EINPresswire.com/ -- today announced it has completed the sale of its Smackover Project (Daytona Lithium Pty Ltd and U.S. subsidiary Folsom Point Energy LLC) to Energy Exploration Technologies Inc. (EnergyX), in a transaction valued at approximately US$26 million (A$40 million).

Transaction Highlights
>Pantera has received approximately US$1.3 million (A$2 million) in upfront cash and 2,344,828 common shares in EnergyX valued at approximately US$22.1 million (A$34 million) at closing.

>The Company will also receive an additional approximately US$2.6 million (A$4 million) in deferred cash payments over the next 18 months (approximately US$1.3 million (A$2 million) at 9 months and approximately US$1.3 million (A$2 million) at 18 months).

>The sale delivers immediate value for Pantera shareholders while maintaining equity exposure to EnergyX’s lithium growth strategy, including its flagship Project Lonestar™ lithium hydroxide facility in Texas and the advanced Black Giant project in Chile.

>Pantera will continue advancing a pipeline of U.S. critical mineral opportunities, including lithium, antimony, copper, silver, and rare earths.


The transaction was approved by Pantera shareholders at the Company’s recent general meeting, with all conditions precedent now satisfied.

Strategic Growth Plan
Following the sale, Pantera is well-capitalized to expand its U.S. critical minerals portfolio. The Company is actively assessing new projects in proven jurisdictions with strong infrastructure and supportive regulatory frameworks.

The Board views this expansion strategy as complementary to the EnergyX transaction, positioning Pantera for long-term value creation through exposure to multiple high-demand, strategic resources.

Barnaby Egerton-Warburton, Executive Chairman and CEO of Pantera, said:

“The completion of the Smackover sale represents a defining moment for Pantera, crystallising real value today while keeping our shareholders exposed to the development of globally significant lithium projects in the U.S. and Chile. With this transaction behind us, we have the balance sheet strength and strategic flexibility to pursue the next chapter of growth. The U.S. critical minerals sector is entering an exciting phase, and with our established presence in Arkansas and strong relationships on the ground, Pantera is exceptionally well positioned to capture opportunities that can deliver long-term value.”

Jane Morgan
Investor and Media Relations
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