Pan Asia Corporation Limited (ASX:PZC) Completes Capital Raising Of A$1.9 Million To Strengthen Growth In Asia

Perth, Nov 30, 2009 AEST (ABN Newswire) - Pan Asia Corporation Limited (ASX:PZC) is pleased to inform the market that it has completed the underwritten placement of 95,000,000 ordinary shares to raise A$1,900,000. The shares were placed to sophisticated and institutional investors at a price of A$0.02 per share.

As previously announced, the additional funds will enable the Company to continue its rapid growth and development throughout Asia by strengthening its cash position as it explores its current projects and also carry on the support of its due diligence review of other projects in the region.

Contact

Alan G. Hopkins Chief Executive Officer Tel: +61-8-9381-5819