(TheNewswire)
Vancouver, British Columbia / TheNewswire / September 18, 2018. East Asia Minerals Corporation (TSXV: EAS)
(East Asia Minerals or the “Company”) announces that the Company has completed
the 2nd tranche of the private placement offering of 5,680,000 units for total
proceeds of $284,000.
The Company will pay finders’ fees in the total amount of $21,250 and 390,000 brokers
warrants.
All of the securities distributed under the offering are subject to a four-month hold period expiring January
14, 2019.
The Company also wishes to announce that it 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 and general operating costs during the final stages of closing the
credit facility loan of up to USD$13,500,000 announced on May 31, 2018.
On behalf of the Board of Directors of East Asia Minerals,
Terry Filbert,
Chairman & CEO
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.
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.
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