East Asia Completes Private Placement of Units
East Asia Completes Private Placement of Units
March 9, 2017 Symbol: EAS
East Asia Minerals Corporation (the “Company”) is pleased to announce that, further to its news
releases on January 25, 2017, it has completed its non-brokered private placement (the “Offering”)
of units (the “Units”) of the Company for gross proceeds of $940,000.
The Company issued 94,000,000 Units pursuant to the Offering at a price of $0.01 per Unit. Each
Unit is comprised of one common share of t he Company (a “ Common Share”) and half of one
Common Share purchase warrant (each whole Common Share purchase warrant, a “ Warrant”).
Each Warrant is exercisable to acquire one Common Share (a “ Warrant Share”) for a period of
five years following the date h ereof at an exercise price of $0.05 per Warrant Share, subject to
adjustment in certain events.
All securities issued in connection with the Offering, which include certain insider participation,
are subject to a four month holder period expiring July 9, 2017.
One insider of the Company subscribed for 66,425,000 Units, which constituted a “related party
transaction” within the meaning of Multilateral Instrument 61 -101 – Protection of Minority
Security Holders in Special Transaction (“MI 61-101”). The issuan ce to such insider is exempt
from the formal valuation and the minority shareholder approval requirements of MI 61-101 as the
fair market value of the Units issued to or the consideration paid by such person did not exceed
25% of the Company’s market capitalization.
Further to the news release dated January 25, 2017, Ed Rochette, David Anthony and Peter
Sederowsky resigned as directors as of March 8, 2017 and each of Kim Oishi, Terry Filbert, Alan
McMillan and Scott Chaykin has been appointed as directors of the Company, and Terry Filbert
has been appointed as the Chief Executive Officer and Chairman of the Company.
EAST ASIA MINERALS CORPORATION
Per: “Terry Filbert”
Terry Filbert, President & CEO
Neither the 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 of this release.