ASX:PAX - $5M USD Private Equity Investment

The following appears as a matter of record only


Panax Geothermal Limited


$5M USD Private Equity Investment
(Term Sheet Facilitated)


The undersigned is pleased to announce that
it has facilitated an institutional private placement
for the purpose of working capital


Panax Geothermal Limited, a public company established in October of 2006 and headquartered in Brisbane, Queensland, Australia. Panax is a geothermal exploration and development company pursuing a range of projects in Australia and internationally. Panax turns geothermal resources into reserves for power generation – identifying, exploring and developing the resources into commercial power stations to generate zero-emission electricity.

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