Pacific American Coal Acquires Stake in Australian Developer of Graphene-based Coatings
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Pacific American Coal Ltd will retain its Elko Coking Coal Project but acquire a 20 percent stake in Imagine Intelligent Materials Pty Ltd, an Australian developer of graphene-based coatings for industrial textiles and fibers.
PAK will initially acquire 20 percent of the issued capital of Imagine IM in consideration for a cash payment of $1.25 million initially.
PAK will seek to raise $1.58 million from sophisticated and professional investors by an underwritten cash placement of 33 million new shares in PAK at an issue price of $0.048.
Imagine IM is a company that develops commercial applications for graphene and associated advanced carbon based materials.
The Elko coking coal project in British Columbia has a 254 million tonne resource of coal in the measured, indicated and inferred categories.
Source: (March 22, 2016) Proactive Investors
About Pacific American Coal
Pacific American Coal Ltd is focused on mining and developing coal assets in North America.
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