Funds will be used to accelerate the company's commitments under MoA
By Melissa Kory
Cleveland, May 12 - Pan Asia Corp. Ltd. said it has received firm commitments from sophisticated investors to subscribe for 12 million shares or A$1.8 million.
The shares will be sold at A$0.15 per share, an 11.76% discount from the May 11 closing price of A$0.17.
The funds raised by the private placement will be used to accelerate the company's commitments under the MoA with Kopex executed in April.
Pan Asia is a resource company with offices in Perth, Sydney and Jakarta.
| Issuer: | Pan Asia Corp. Ltd.
|
| Issue: | Shares
|
| Amount: | A$1.8 million
|
| Shares: | 12 million
|
| Price: | A$0.15
|
| Pricing date: | May 12
|
| Stock symbol: | Australia: PZC
|
| Stock price: | A$0.17 at close May 11
|
| Market capitalization: | A$41.66 million
|
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