Panoramic Resources Ltd. entered a definitive agreement to sell its Thunder Bay North platinum group metals project in Ontario to Regency Gold Corp.

The company will terminate its previously agreed letter agreement for the sale of Thunder Bay North to Benton Resources Inc., according to the Jan. 6 release.

Under the new share purchase agreement, Regency will purchase project owner PAN PGMs Canada Ltd. from Panoramic unit Magma Metals Pty. Ltd. at the same C$9.0 million cash payment agreed with Benton.