East Asia Minerals Announces Closing of Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES
EAST ASIA MINERALS ANNOUNCES CLOSING OF FINANCING
May 8, 2017 Symbol: TSXV: EAS
Vancouver, British Columbia, May 8 , 2017 . East Asia Minerals Corporation (the “Company”) .
(TSXV:EAS) (the “Company”), announces that announces that it has closed a non -brokered
private placement of 27,519,668 units of the Company (the “ Units”) at $0.12 per Unit for gross
proceeds of approximately $3,302,360 (the “Offering”).
Each Unit consists of one common share in the capital of the Company (a “ Share”) and one-half
of a share purchase warrant (each whole warrant, a “ Warrant”). Each Warrant entitle s the
holder to purchase one additi onal common share in the capital of the Company (a “ Warrant
Share”) at a price of $0.50 per Warrant Share for a period of five years from the closing of the
Offering.
The Company has paid eligible finders a cash commission in the aggregate amount of
approximately $208,695 and 1,739,127 finders warrants (“Finders Warrants”) on the Offering
within the amount permitted by the policies of the TSX Venture Exchange (the “ Exchange”).
Each Finders Warra nt entitles the holder to purchase one common share in the cap ital of the
Company at a price of $0.12 for a period of two years from the closing of the Offering. All
securities issued in connection with the Offering will be subject to a statutory hold period of
four months plus a day from the date of issuance in acc ordance with applicable securities
legislation.
The net proceeds of the Offering after payment of commissions will be used by the Company
to pay expenses related to the Company’s properties in Indonesia , settle payables and for
working capital.
“We are very pleased to close this financing which provides East Asia Minerals with the
resources needed to complete the regulatory reports required to bring Sangi he current. In
addition, our team has taken initial steps towards addressing the legal and forestry i ssues of
Miwah” said Terry Filbert , CEO of East Asia Minerals Corp. “We look forward to updating
shareholders as we progress.”
For further information please contact:
Ward Kondas
778-918-8384
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities described in this news release in the United States. Such securities have not been,
and will not be, registered under the United States Securiti es Act of 1933, as amended (the
“U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold
within the United States, or to or for the account or benefit of persons in the United States or
“U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities
Act, unless registered under the U.S. Securities Act and applicable state securities laws or
pursuant to an exemption from such registration requirements.
For further information, visit the Company's website at www. eaminerals.com
This news release contains forward -looking information, which involves known and unknown
risks, uncertainties and other factors that may cause actual events to differ materially fr om
current expectation. Important factors - including the availability of funds and the results of
financing efforts, - that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed fro m time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press release. The
Company disclaims any intention or obligation, except to the extent required by law, to update
or revise any forward -looking statements, whether as a result of new information, future
events or otherwise.
East Asia Minerals Corporation
Terry Filbert, Chairman & CEO,
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.