St Energy’s purchase will be funded by the issue of ‘Convertible Notes’ with
Interest to be paid at ten percent per annum and fully paid shares at thirty cents each.
In a statement to the ASX, St Energy said it’s also currently in negotiations with personnel and suppliers to further develop and commercialise magneto photonic and fibre device technology which was acquired in the deal.
It is expected that finalisation of all of Panorama’s intellectual property may take some time.
The Company will continue to work with Panorama’s liquidators in order to conclude the transfer as soon as possible.
