East Asia Minerals Updates $2M Private Placement

2018-06-20 / @thenewswire

(TheNewswire)

Vancouver, British Columbia / TheNewswire / June 20, 2018 - East Asia Minerals Corporation (TSXV:EAS) (East Asia Minerals or the “Company”) announces that further to the news release dated May 7, 2018, that the Company is still proceeding with a private placement raising up to $2,000,000 under the same terms previously announced (an offering of 40,000,000 units (the “Units”) at $0.05 per Unit (the “Offering”) where each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 2 years from the closing of the Offering).

The net proceeds of the Offering after payment of commissions will be used by the Company for working capital expenditures related to the Sangihe Project during the due diligence process for the credit facility loan of up to $17,500,000 (USD$13,500,000) announced on May 31, 2018.

For further information, contact Mark Sommer at 1-604-684-2183, info@eastasiaminerals.com or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.