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| Home : East Asia Minerals Announces Private Placement |
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Dec 05
2014 |
East Asia Minerals Announces Private Placement |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2014) - East Asia Minerals Corporation (the "Company") (TSX VENTURE:EAS) announces an offering of units at CDN$0.015 per unit for the first tranche and CDN$0.01 per unit for the second tranche to raise up to US$500,000, which is estimated to be approximately CDN$568,650 and subject to exchange rate fluctuation. Each unit being offered consists of one common share of the Company and one share purchase warrant having a five year term following the grant of the share purchase warrant for the purchase of one further common share of the Company at the exercise price of CDN$0.05 per share for the first year and CDN$0.10 per share thereafter. Tocqueville Asset Management, L.P. ("Tocqueville") in its capacity as the investment adviser to a number of investment funds and managed accounts (collectively, the "Accounts"), will subscribe for the offering in two tranches. The first tranche of CDN$146,474 is expected to increase Tocqueville's holdings on behalf of the Accounts to 23,877,333 common shares representing 19.9% of the issued number of shares then outstanding. The second tranche to complete the placement up to US$500,000 is expected to increase Tocqueville's holdings on behalf of the Accounts to approximately 66,094,934 common shares equal to 40.75% of the issued shares based on current CDN:US exchange rates. Completion of the second tranche and the exercise of the share purchase warrants issued in connection with the first tranche will be subject shareholder approval of the "change of control" (as defined under the policies of the TSX Venture Exchange) that would result therefrom. The annual and special meeting of the shareholders has been called for January 2015. |
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| Source:http://www.marketwired.com/mw/release.do?id=1974306&sourceType=3 |
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