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Panorama Synergy Ltd (ASX:PSY) Placement from share purchase plan

Panorama Synergy SPP Raises $1.459 Million
Key points:
- SPP successfully concluded providing working capital to drive Panorama Synergy’s business opportunities
- Launch of first product in the Integrated Online Sales Platform anticipated in early March 2011
Australian technology company, Panorama Synergy Ltd (ASX:PSY) is pleased to announce that it has raised A$1,459,125 from the Share Purchase Plan (“SPP”) which closed on Tuesday, 15th February, 2011.
Under the terms of the SPP, 19,455,000 new shares will be issued at the issue price of $0.075. Allotment of SPP shares is expected to be completed by 22nd February 2011. Holding statements are also scheduled to be dispatched to shareholders on 22nd February 2011.
Commenting on the SPP, Panorama Synergy’s Managing Director, Terry Walsh said:
“The support of our shareholders over recent months backs our belief in Panorama Synergy’s exciting future.
In addition to our core Magneto Photonic Crystal development, the Company is moving ahead with the addition of a scalable Integrated Online Sales Platform to our business model.
We anticipate the launch of our first online product in early March 2011. A separate  announcement will be released shortly focusing specifically on this exciting project.”
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