Business
East Asia Minerals Closes $167,273 Final Tranche of $300,000 Financing
(via TheNewswire) May 14, 2020 - TheNewswire - East Asia Minerals Corporation (...
About this update from Baru Gold Corp
[{"type":"text","content":"East Asia Minerals Closes $167,273 Final Tranche of $300,000 Financing(via TheNewswire)\n \n \nMay 14, 2020 - TheNewswire - East Asia Minerals Corporation (the \"Company\", \"East Asia\" or \"EAS\") (TSXV:EAS) (OTC:EAIAF) is pleased to announce that it has closed financing previously announced on March 27, 2020 for a total of $300,333. \n\n\n \nThe Company received aggregate gross proceeds of $167,273 the issuance of 4,779,228 units (the \"Units\") of the Company at a price of $0.035 per Unit. Each Unit will comprise one common share in the capital of the Company (each a \"Share\") and one common share purchase warrant (each a \"Warrant\"). Each Warrant entitles the holder to acquire one Share at a price of $0.06 and expires in 24 months from the closing date. All securities issued under the Private Placement will be subject to a hold period expiring four months and one day from the closing date.\n\n\n \nTerry Filbert, chief executive officer of EAS, comments, \"With the proceeds from this financing we are excited to start executing and advancing our announced milestones. With rising gold prices we believe the EAS assets will generate more interest as we start delivering on operational, environmental, and strategic updates.\" \n\n\n \nThe Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange. \n\n\n \nThe securities distributed under the offering will be subject to a 4 month and 1 day hold period expiring on September 13, 2020. \n\n\n \nABOUT EAST ASIA MINERALS CORPORATION\n\n \n \nEast Asia Minerals is a dynamic junior gold developer with two assets totaling combined resources of 3.3 million ounces NI 43-101 gold resources in Indonesia, one of the leading gold producer countries in the world. EAS plans to advance and permit Sangihe in near term and raise funds for a 1,000 ounces per month heap leach operation. With cashflow from operations, the plan is to further expand resources through drilling of the Company's projects. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technologic...