By Sheri Kasprzak
New York, Oct. 12 - East Asia Minerals Corp. said it has upsized to C$13,712,500 its previously announced C$12.5 million private placement.
The company will now sell a total of 10.97 million units at C$1.25 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$1.75 each for two years.
A syndicate of placement agents led by Pacific International Securities Inc. and including Canaccord Capital Corp. and Salman Partners Inc. has an over-allotment option for up to 2 million additional units.
The deal, slated to close Oct. 27, was first announced Sept. 29 as a C$12.5 million offering of up to 10 million under the same terms.
Proceeds will be used for exploration on the company's Mongolian properties and general corporate purposes.
Based in Vancouver, B.C., East Asia is a mineral exploration company.
| Issuer: | East Asia Minerals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$13,712,500
|
| Units: | 10.97 million
|
| Greenshoe: | For up to 2 million units
|
| Price: | C$1.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.75
|
| Placement agents: | Pacific International Securities Inc. (lead); Canaccord Capital Corp.; Salman Partners Inc.
|
| Pricing date: | Sept. 29
|
| Upsized: | Oct. 12
|
| Settlement date: | Oct. 27
|
| Stock price: | C$1.41 at close Sept. 29
|
| Stock price: | C$1.36 at close Oct. 11
|
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