East Asia Minerals Corporation has announced that further to the news release dated 1 February 2018, the company is still proceeding with a private placement raising US$2 million under the same terms previously announced.
Previously announced was an offering of 33 333 333 units at US$0.06 per unit (the offering) where each unit consists of one common share in the capital of the company 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 US$0.12 per warrant share for a period of two 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 the Sangihe project and other business developments.
Read the article online at: https://www.globalminingreview.com/exploration-development/26032018/east-asia-minerals-private-placement-underway/