East Asia Announces $10,000,000 Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/07/11 -- East Asia Minerals Corporation (TSX VENTURE: EAS) - The Company wishes to announce that it has entered into private placements for the sale of 20,000,000 units at $0.50 per unit for a total of $10,000,000, where each unit consists of one common share of the Company and one non-transferable share purchase warrant having a two year term for the purchase of one further common share of the Company at the exercise price of $0.78 per common share.
The Company shall use the proceeds of the offering for general working capital.
A finder's fee of cash or warrants, or a combination of both, will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies.
This private placement is subject to approval by the TSX Venture Exchange.
EAST ASIA MINERALS CORPORATION
Edward C. Rochette, CEO and Director
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About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE: EAS) is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia, and uranium exploration properties in Mongolia. In Indonesia the Company has a 70 to 85% interest in three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. The Company owns nine uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium properties, and two phosphate properties in Mongolia. East Asia currently has 84,221,582 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol 'EAS'.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
Contacts:
East Asia Minerals Corporation
Mark Patchett
Investor Relations
1-604-637-8154
patchett@eaminerals.com
www.EAminerals.com
