East Asia Minerals announces $4M financing

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By CPE News

Vancouver (pcJ News Briefs) – East Asia Minerals Corporation (TSX-V: EAS) intends to close a non-brokered private placement of up to 33,333,334 units at $0.12 per unit for gross proceeds of up to $4,000,000.

Each unit will consist of one common share and one-half of a share purchase warran. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.50 per share for a period of five years from the closing of the offering.

Proceeds will be used for to pay expenses related to the company’s properties in Indonesia, settle payables and for working capital.

East Asia Minerals also announced that it has retained 1712060 Alberta Co. to provide strategic investor relations and financial communications services. East Asia Minerals will pay 1712060 Alberta Co. a monthly retainer fee of $12,500 for select strategic communications services. The contract term is for 12 months and commences immediately.

photo credit: East Asia Minerals