DGAP-News: Pan Asia Corporation Ltd.: $5M PLACEMENT FINALISED
(firmenpresse) - Pan Asia Corporation Ltd. / Miscellaneous
25.05.2010 12:30
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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25 May 2010
$5M PLACEMENT FINALISED
The Directors of Pan Asia Corporation Ltd (the 'Company'; ASX: PZC) are
very pleased to announce that the Company has now closed its $5,000,000
placement fully subscribed.
The raising of this sum will provide the Company with funds to invest in
further promising projects, including the Nadvara and Perdama Maju Utama
projects in East Kalimantan.
CEO Alan Hopkins commented 'The full subscription of the Company's
placement serves to further strengthen the Company's capacity to build and
successfully exploit a portfolio of highly prospective assets via the
pending acquisition of Innovation West to be approved by shareholders at
the Company's next shareholder meeting.'
ALAN G. HOPKINS
Chief Executive Officer
About Pan Asia Corporation Limited
Pan Asia Corporation Limited is a rapidly growing diversified resources
company primary listed on the Australian Securities Exchange and secondary
listed on the Frankfurt Stock Exchange and with offices in Perth and
Sydney, Australia and Jakarta, Indonesia.
The Company aims to be a major supplier of key resources into the expanding
Asian markets and is well advanced in its due diligence and requirements
for regulatory and shareholder approval for the acquisition of a number of
significant coal and manganese assets in Indonesia. This diversified
portfolio of assets includes projects in both production and exploration
stages as well as a significant opportunity to participate in commodity
trading which will complement these projects.
The evaluation and development of the current suite of assets in addition
to new opportunities that arise from a strong local partner network will be
the foundation for the Company's aim to become a top tier coal and
manganese company in Indonesia over the next three years. An extensive
international financial network provides support for the Company's rapid
growth plans.
25.05.2010 12:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 25.05.2010 - 12:30 Uhr
Sprache: Deutsch
News-ID 21396
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