Panax Geothermal raising A$1.6M for Indonesian projects

(MENAFN – ProactiveInvestors – Australia) Panax Geothermal (ASX: PAX) is raising A$1.6 million to fund ongoing development of its geothermal projects in Indonesia until it finalises Power Purchase Agreements and project financing discussions.

The issue of up to 228.27 million new shares priced at A$0.007 each, is partially underwritten by Patersons Securities. Patersons will underwrite A$1.1 million of the issue.

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Posted July 9, 2012 by repit in News

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