EAS announces $10m placement
Wednesday, June 29 2011 - 02:29 AM WIB
East Asia Minerals Corporation (EAS)announced Wednesday that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets to undertake private placement for aggregate gross proceeds of C$10 million.
The net proceeds of the Offering will be used primarily for exploration and development at the company's Miwah gold property in Aceh and for general working capital purposes.
The Offering is scheduled to close on or about July 13, 2011.
EAS is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia, and uranium exploration properties in Mongolia. In Indonesia the Company has a 70 to 85% interest in six advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi.(alex)