Deal with China Gold, Prime Orient to support project exploration
By Devika Patel
Knoxville, Tenn., Sept. 7 - Asia Now Resources Corp. said it plans a C$13.57 million private placement of stock.
The company will sell 42.4 million common shares at C$0.30 per share to China Gold Pte. Ltd. and 2,842,000 shares at the same price to Prime Orient Investments Ltd. The per-share price represents a 50% premium to the Sept. 3 closing share price of C$0.20.
Proceeds will be used for exploration with a focus on the project at Beiya in Yunnan Province and related activities.
"We welcome this additional investment by China Gold which will allow us to increase and accelerate exploration work on our projects, particularly additional drilling on the very promising Beiya gold property in Yunnan province, China," company president Kaihui Yang stated in a news release.
Based in Toronto, Asia Now acquires and develops mineral properties in China.
| Issuer: | Asia Now Resources Corp.
|
| Issue: | Common shares
|
| Amount: | C$13,572,600
|
| Shares: | 45,242,000
|
| Price: | C$0.30
|
| Warrants: | No
|
| Investors: | China Gold Pte. Ltd. (for C$12.72 million), Prime Orient Investments Ltd. (for C$852,600)
|
| Pricing date: | Sept. 7
|
| Stock symbol: | TSX Venture: NOW
|
| Stock price: | C$0.20 at close Sept. 3
|
| Market capitalization: | C$12.82 million
|
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