By Sheri Kasprzak
New York, Sept. 29 - East Asia Minerals Corp. said it plans to raise up to C$12.5 million from a private placement.
The deal includes up to 10 million units at C$1.25 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$1.75 each for two years.
The offering is being placed through a syndicate of placement agents led by Pacific International Securities Inc. and including Canaccord Capital Corp. and Salman Partners Inc. The agents have an over-allotment option for up to 2 million additional units.
The deal is expected to close Oct. 27.
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.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$12.5 million (maximum)
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| Units: | 10 million (maximum)
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| Greenshoe: | For up to 2 million units
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| Price: | C$1.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.75
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| Placement agents: | Pacific International Securities Inc. (lead); Canaccord Capital Corp.; Salman Partners Inc.
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 27
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| Stock price: | C$1.41 at close Sept. 28
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