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BRIEF-Panoramic Resources updates on disposal agreement

Published 22/10/2016, 01:26 am
© Reuters.  BRIEF-Panoramic Resources updates on disposal agreement
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Oct 21 (Reuters) - Panoramic Resources Ltd PAN.AX :

* entered into an agreement with horizon gold under which co has effectively agreed to dispose of pan gold and project to horizon gold.

* acquisition agreement is conditional on horizon gold raising $15 million before costs by issuing 37.5 million shares at $0.40 per share

* Panoramic will hold 39 million shares in horizon gold (51%) after listing Source text for Eikon: ID:nASX3QGTf Further company coverage: PAN.AX

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