April 24 (Reuters) - Pacific American Holdings Ltd PAK.AX :
* PACIFIC AMERICAN- INTENDS TO RAISE UP TO $1.799 MILLION VIA NON-RENOUNCEABLE RIGHTS ISSUE
* PACIFIC AMERICAN-FUNDS FROM RIGHTS ISSUE WILL BE USED TO INITIATE ACTIVITY OF GP HYDRO JOINT VENTURE WITH GLOBAL HYDRO GMBH OF AUSTRIA