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East Asia Minerals Closes $2,000,000 First Tranche from Palisades Goldcorp and Increases Financing to $4.4 Million
(via TheNewswire) TheNewswire - September 17, 2020 - East Asia Minerals Corpora...
About this update from Baru Gold Corp
[{"type":"text","content":"East Asia Minerals Closes $2,000,000 First Tranche from Palisades Goldcorp and Increases Financing to $4.4 Million(via TheNewswire)\n \n \nTheNewswire - September 17, 2020 - East Asia Minerals Corporation (the \"Company\", \"East Asia\" or \"EAS\") (TSXV:EAS) is pleased to announce that it has closed its $2 million lead order from Palisades Goldcorp Ltd., the first tranche of the $4 million financing previously announced on September 10th, 2020. Due to significant market interest in the financing, the Company has increased the financing to 29,333,333 units priced at $0.15 per unit for an aggregate of $4.4 million and anticipates the second and final tranche to close next week. Each unit will be comprised of one common share in the capital of the Company (a \"Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant shall be exercisable into one Share at an exercise price of $0.25 for 3 years from the date such Warrant is issued.\n\n\n \nThe Company received aggregate gross proceeds of $2,000,000.10 for the issuance of 13,333,333 units. All securities issued in the first tranche of the private placement will be subject to a four-month hold period expiring January 16, 2021.\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. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.\n\n\n \nABOUT PALISADES GOLDCORP\n\n\n \nPalisades Goldcorp is Canada's new resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior retu...