Pan Asia Metals (ASX:PAM) is raising AU$761,000 through a top-up share placement to fund its maiden inverse polarization program at the Rosario copper project in Chile, according to a Thursday filing with the Australian bourse.
The battery and critical metals explorer will issue up to 10,569,444 fully paid ordinary shares at AU$0.072 each, the filing said. The placement includes the issue of one new option for every two new shares applied for, exercisable at AU$0.15 and expiring two years from issuance.
Pan Asia Metals Chairman and managing director Paul Lock and technical director and chief geologist David Hobby subscribed for AU$125,000 each via accrued and future salary allocations, subject to shareholder approval, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.