Successful Completion of Retail Component of Entitlement Offer
KEY POINTS
Successful completion of the Retail Entitlement Offer taking total funds raised to A$90,144,855 (before expenses).
Panoramic’s recapitalisation is now complete which will enable continued capital development at Savannah for an eventual restart in operations.
New Shares issued under the Retail Entitlement Offer are expected to commence trading on ASX on Monday 22 June 2020.
Panoramic’s Managing Director and CEO, Victor Rajasooriar, commented:
“We are encouraged by the strong level of participation from institutional and retail shareholders who have supported Panoramic in recent weeks. Completion of Panoramic’s recapitalisation is an important milestone with the Company now debt-free.1 We look forward to the continued capital development and mine plan optimisation at Savannah prior to an eventual restart in operations.”
