East Asia Minerals Proceeds with $2M Private Placement
East Asia Minerals Proceeds with $2M Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2018) - East Asia Minerals Corporation (TSXV: EAS) (
East Asia
Minerals or the "Company"
) announces that further to the news release dated February 1, 2018, that the Company is still
proceeding with a private placement raising
$2,000,000
under the same terms previously announced
(an offering of
33,333,333
units (the "Units") at
$0.06
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
$0.12
per Warrant Share for a
period of
2 years
from the closing of the Offering).
The Company may pay eligible finders a finder's fee of cash, warrants or a combination of both.
The net proceeds of the Offering after payment of commissions will be used by the Company to pay expenses related to the
exploration and development of the Company's properties in Indonesia, settle payables and for working capital. Specifically, the
exploration and development expenses will fund the development of Sangihe Project and other business developments.
For further information, contact Mark Sommer at 1-604-684-2183,
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.
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the
meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to,
statements or information concerning future work programs, results and timing of any work programs, the Company's
performance or events as of the date hereof. These statements reflect management's current assumptions and expectations
and by their nature are subject to certain underlying assumptions, known and
unknown risks and uncertainties and other
factors which may cause actual results, performance or events to be materially different from those expressed or implied by
such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of
mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our
expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates,
refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration
risks and production and economic risks related to design and engineering, manufacturing, technological processes and test
procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and
maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a
detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional
advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking
statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any
forward looking statements to reflect events or changes in circumstances that occur after the date hereof.