The company, based in Milton, a suburb of Brisbane in Queensland, Australia, recently launched a Share Purchase Plan to raise up to $3 million, with a number of parties indicating an interest in underwriting some or all of the plan.
The offer is to all shareholders to purchase between $1,500 and $15,000 of new listed ordinary shares in Panax, at an issue price of $0.01 per share, with one free Attaching Option, exercisable at $0.015 and with a three year exercise period from the date of issue.