Gold and copper explorer raises funds for general working capital
By Devika Patel
Knoxville, Tenn., Oct. 7 - East Asia Minerals Corp. said it has arranged a C$10 million private placement of units.
The company will sell 20 million units of one common share and one warrant at C$0.50 per unit.
The warrants are each exercisable at C$0.78 for two years. The strike price represents a 25.81% premium to C$0.62, the closing share price on Oct. 6.
Proceeds will be used for general working capital.
East Asia is a gold and copper exploration company based in Vancouver, B.C.
Issuer: | East Asia Minerals Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$10 million
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Units: | 20 million
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Price: | C$0.50
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.78
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Pricing date: | Oct. 7
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Stock symbol: | TSX Venture: EAS
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Stock price: | C$0.62 at close Oct. 6
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Market capitalization: | C$53.31 million
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