Pan Asia Metals Raises AU$1.265 million with Chairmans Support

Pan Asia Metals (ASX: PAM) has successfully raised AU$1.265 million through a placement to new and existing sophisticated and institutional shareholders. The funds were secured at a 4% premium to the Volume-Weighted Average Price (VWAP) and a 9% premium to the last close, demonstrating confidence in PAM's assets and its low-cost mid-stream processing strategy. The placement included a significant contribution from PAM's Chairman and Managing Director, Paul Lock, who subscribed for AU$500,000, with AU$400,000 provided beforehand in anticipation of the placement.

The issuance of the Chairman's shares is subject to shareholder approval at an Extraordinary General Meeting. The company's cash position was adjusted in comparison to its June Quarterly Report, with the current funds and committed capital funding amounting to AU$3,013,000. PAM has been making notable progress, especially in its lithium projects, securing partnerships and positioning itself as a potentially low-cost lithium chemical producer.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com