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Great Panther Silver Limited

Exchange: TSX Exchange | Oct 20, 2017, 11:06 PM EDT

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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 21, 2005) - GREAT PANTHER RESOURCES LIMITED (TSX VENTURE:GPR) (the "Company") is pleased to report that the Company has closed the second and final tranche of its 12,200,000 unit private placement announced on November 4, 2005, December 1, 2005, December 2, 2005 and December 13, 2005 led by Bolder Investment Partners, Ltd. The placement was over-subscribed. On closing of the second tranche, the Company issued 8,096,800 units at $0.62 per unit for gross proceeds of $5,020,016. Each unit comprises one common share and one non-transferable Series J share purchase warrant. Each Series J share purchase warrant entitles the holder to acquire, upon exercise, one further common share of the Company until December 20, 2007 at a price of $0.90.

Of the 8,096,800 units sold in this second and final tranche, 5,468,800 units were sold on a brokered basis, and 2,628,000 units were sold on a non-brokered basis.

The Company paid cash commissions totaling $206,153.72, issued 546,880 agent's warrants, issued 50,310 agent's units (each comprising one share and one warrant), paid cash finder's fees totalling $91,270.20, and issued 138,800 finder's warrants. The agent's warrants and finder's warrants have the same attributes as the Series J warrants.

All securities issued and issuable under the second and final tranche of this private placement are subject to hold periods expiring on April 21, 2006.

The total gross proceeds from the first and second tranche are $7,564,000.


Kaare G. Foy

Chairman and CFO

SEC 20-F Statement Filed

Standard & Poor's Listed


Great Panther Resources Limited
Brad Aelicks

(604) 685-6465

Great Panther Resources Limited
Don Mosher

(604) 685-6465
(604) 685-9744 (FAX)

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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