Nov 22 (Reuters) - Independence Group NL IGO.AX :
* UPDATE ON OFF-MARKET TAKEOVER BID FOR PANORAMIC RESOURCES
* CONFIDENTIALITY DEED HAS BEEN ENTERED INTO BETWEEN IGO AND PAN WHICH ALLOWS IGO TO CONDUCT DUE DILIGENCE ON PANORAMIC
* EXPECTS ITS BIDDER'S STATEMENT TO BE MAILED TO PANORAMIC SHAREHOLDERS ON MONDAY 25 NOVEMBER 2019
* PANORAMIC SHAREHOLDERS ARE ENCOURAGED TO ACCEPT OFFER
* CONFIDENTIALITY DEED HAS BEEN ENTERED INTO BETWEEN IGO AND PAN INCLUDES THE SAVANNAH PROJECT
* REITERATES THAT ANY CAPITAL RAISING ANNOUNCED BY PANORAMIC WOULD REPRESENT A BREACH OF IGO'S OFFER CONDITIONS