Pan Asia Corporation Limited (ASX:PZC) A$5 Million Placement Finalised

Sydney, May 25, 2010 AEST (ABN Newswire) - The Directors of Pan Asia Corporation Ltd (ASX:PZC) are very pleased to announce that the Company has now closed its A$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."

Contact

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