East Asia Minerals Corp. Announces Shares for Debt Transaction

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) reports that its board of directors has approved the settlement of up to $165,748.61 of debt through the issuance of common shares of the Company (the “Debt Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 3,314,972 common shares of the Company (the “Shares”) at a deemed price of $0.05 per Share to certain creditors of the Company, including certain directors and officers (the “Creditors”)

Further to the news release dated August 21, 2019, whereby the Company advised that in order to maintain the momentum on completing the Sangihe Production License approval, CEO Terry Filbert elected to sell shares and loan the net proceeds to the company in order to pay expenses that are necessary for this process. To this end, this Debt Settlement includes the settlement of debt to Mr. Filbert in the amount of $101,484.61 with the issue of 2,029,692 shares.  The CEO is committed to the success of the Company and this issue will replace the shares sold to support the Company in its endeavours.

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (“Mi-61-101”). All of the independent directors of the Company, acting in good faith, considered the transactions and determined that the fair market value of the securities being issued to insiders and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and  minority shareholder approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a).

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

East Asia Minerals Completes Key Requirement Of Production License For The Sangihe Gold Project

Vancouver, British Columbia, East Asia Minerals Corporation (the “Company”) (EAS:TSX.V, EAIAF:OTCBB) is pleased to announce that further to the news release from September 13, 2019, East Asia Minerals subsidiary, PT. Tambang Mas Sangihe or “TMS” (the holder of the Sangihe CoW license) has had its detailed works program & business plan (DWP & BP)  approved by Ministry of Energy and Mineral Resources at an open meeting attended by TMS and representatives of both Provincial and Central mines departments. The Ministry of Energy and Mineral Resources and provincial mines department representatives showed strong support and encouragement for the TMS project and confirmed their commitment to the development of the project.

To complete the license upgrade on our Sangihe project, to Operation Production status, the company must receive approval of  the DWP & BP and the completion of the Environmental Impact Assessment meeting (AMDAL) which will authorize the issuance of the environmental permit.

In regard of the foregoing filings, the Company is not required to, nor will be filing a supporting technical report with the securities regulator within 45 days of the date of this news release. The Company also  cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.

Once the AMDAL meeting is held, the remaining open item necessary to have the Operation Production License issued, is the payment of a mining tax (Dead-rent). The license upgrade will enable the East Asia Minerals to begin construction of the gold production facilities and infrastructure for the Sangihe project.

Sangihe Project

The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold as reported in the Company’s “Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesiadated May 30, 2017 authored by Ian Taylor, BSc Hons, MAusIMM(CP), MAIG and Anthony Woodward, BSc Hons, M.Sc., MAusIMM, MAIG. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.  The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.

Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

 

East Asia Minerals Update On Production Licence

East Asia Minerals Corporation (the “Company(EAS:TSX.VEAIAF:OTCBB) is pleased to announce that the Company has received Tata Ruang (Spatial Plan) approval at an open meeting in Manado on Tuesday, September 11, 2019. The Agreement to the Tata Ruang was signed by a number of government departments including Forestry, Environment, Finance, Mining, Tax and Community Affairs. All of these departments were highly supportive of East Asia Minerals subsidiary PT. Tambang Mas Sangihe the holder of the Sangihe CoW license.  

To complete the license upgrade on our Sangihe project, to Operation Production status, the company must hold the Indonesian Feasibility Study (IFS) meeting with the Indonesian Mining Department (ESDM) (which is currently being scheduled)and the completion of the Environmental Impact Assessment meeting (AMDAL).   The Tata Ruang approval was the final step required prior to seeking approval of the Environmental Impact Assessment (AMDAL).   

Once the meetings are completed, the remaining open item necessary to have the Operation Production License issued, is the payment of a mining tax (Dead-rent).The license upgrade will enable the Company to begin construction of the production facilities and infrastructure at the Sangihe project.  

The company had targeted September, to receive the license but the approval process is taking longer than originally anticipated. East Asia’s Indonesian staff is working closely with the Indonesian Mining department for the IFS and the North Sulawesi government on the AMDAL to move these meetings forward as quickly as the government has the ability to perform. The company will make additional announce when the timing of the process becomes known.  

The IFS is not a Feasibility Study as defined by CIM as required by NI 43-101 but is required under Indonesian law in order to obtain a licence to construct a production facility. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below. 

Sangihe Project 

The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold.  The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project. 

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof. 

 

 

East Asia Minerals Corp. Announces Shares for Debt Transaction

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) reports that its board of directors has approved the settlement of up to $50.000 of debt through the issuance of common shares of the Company (the “Debt Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 666,667 common shares of the Company (the “Shares”) at a deemed price of $0.075 per Share to certain creditors of the Company, including certain directors and officers (the “Creditors”)

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (“Mi-61-101”). All of the independent directors of the Company, acting in good faith, considered the transactions and determined that the fair market value of the securities being issued to insiders and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and  minority shareholder approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a).

EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

East Asia Minerals Enters Into Loan Agreement For Up To US$23,000,000

Vancouver, British Columbia – East Asia Minerals Corporation (the “Company”) (EAS:TSX.V, EAIAF:OTCBB) is pleased to announce that it has entered into a loan facility agreement providing up to $23 million in working capital for the final development stages of the Company’s Sangihe Project.

CEO Terry Filbert said: “The proposed loan facility agreement will enable us to begin exploration and infill drilling of the Binebase/Bawone corridor to increase both resources and reserves, as well as for general working capital.”

 Loan Facility Terms

The Company has entered into a secured loan facility agreement with a Middle East based private fund, for the provision of up $23 million in working capital for the Company’s Sangihe Project and to move other projects forward as well. The arrangements under the loan provide for a term expiring 22 years from the date of one or more advances under the loan, including a two (2) year grace period from any principal and interest payments.  Interest shall accrue at 4% on ninety-one percent of any advances comprising the principal of the loan. The loan shall be secured on the shares the Company holds in its wholly owned subsidiary that in turn wholly owns the Company’s 70% interest in the Sangihe Project through its Indonesian subsidiary.

The Sangihe gold-silver-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated ounces and 105,000 inferred ounces of gold. The Company’s 70 percent interest in the Sangihe mineral tenement contract of work is held through PT Tambang Mas Sangihe(PT TMS). The remaining 30 percent interest in PT TMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe contract of work agreement is for 30 years upon commencement of the production phase of the project.

EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

 

East Asia CEO Sells Shares to Facilitate Obtaining the Production Licence

Share Sale by Terry Filbert CEO and Chairman
East Asia Minerals (“the Company”) advises that in order to maintain the momentum on completing the Sangihe Production License approval, CEO Terry Filbert has recently elected to sell shares and loan the net proceeds to the company in order to pay expenses that are necessary in the final stages of the production license approval for the Sangihe project.

Sangihe Project
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold. The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.

EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

East Asia Signs Agreements With North American Financial Advisor To Help Secure the License of the Miwah Project

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) is pleased to announce the signing of agreements with a North American Financial Advisor to assist the Company to secure the license of the Miwah Gold Project. The agreements provides support and assistance for identifying, assessing and negotiating of one or more potential transactions involving the further exploration, development and production of the Miwah Gold Project. These arrangements follow several meetings of the Management of the Company, led by Terry Filbert, with Aceh Provincial government officials, our JV partner as well as legal consultants with the objective to secure the license the Miwah Project and move the project forward. The Company has now believes that the Miwah Project license can be secured and then utilize our drilling investment of the area that the Company made in 2010 to upgrade the license to a production status and expand the Company’s operational portfolio.

In addition, the Financial Advisor shall have the right of first refusal to act or participate as agent or underwriter in respect of one or more offerings of securities of the Company that is completed or undertaken during the term of its agreement with syndicate economics in each such Financing of not less than 40%, at Financial Advisor’s option, and with fees payable to Financial Advisor consistent with fees customarily paid to investment banks in North America for similar services.

Terry Filbert, Chairman and CEO commented “We are very excited to be working with this Financial Advisor to provide advice and capital raising services to the Company on the Miwah Project.  Their experienced professionals have extensive networks of industry contacts which will aid in moving this project forward.”

The Miwah project is located at the northern tip of Sumatra Island in Aceh Province within the Sumatra Fault Zone.  A NI 43-101 Resource Estimate Technical Report on the Miwah Gold Project, dated May 5th, 2011, estimated an inferred mineral resource of 3.14 million ounces.  The report is filed on SEDAR at www.sedar.com

EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert,  

Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

 

East Asia Minerals Announces Shares for Debt Transaction

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) reports that its board of directors has
approved the settlement of up to $782,723 of debt through the issuance of common shares of the Company
(the “Debt Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 13,045,380
common shares of the Company (the “Shares”) at a deemed price of $0.06 per Share to certain creditors of
the Company, including certain directors and officers (the “Creditors”)
The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange. All
securities issued will be subject to a four month hold period which will expire on the date that is four months
and one day from the date of issue.
As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction”
under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction
(“Mi-61-101”). All of the independent directors of the Company, acting in good faith, considered the
transactions and determined that the fair market value of the securities being issued to insiders and the
consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation
and minority shareholder approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a).

EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert, 
Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

East Asia Provides Correction to News Release Issued June 19, 2019

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) would like to announce that further to its news release on April 29, 2019, the Company increased the private placement offering from  4,166,667 units at $0.06 per common share to 6,761,333 units for an aggregate amount of $405,680.

The Company has closed its second and final tranche of 5,261,333 units for total proceeds of $315,680.  The Company will pay a finder’s fee of $21,248.

The securities distributed under the offering will be subject to a 4 month and 1 day hold period expiring October 18, 2019.

EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert,  

Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

 

 

 

East Asia Increases and Completes Financing

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) is pleased to announce an increase in the private placement announced April 29, 2019 of up to $250,000 consisting of 4,166,667 units (the “Units”) at $0.06 per Unit (the “Offering”). 

 The Company has completed the final tranche of the private placement offering of 5,261,333 units for aggregate proceeds of $316,680.  The Company will pay a finder’s fee of $21,248. 

 The securities distributed under the offering will be subject to a 4 month and 1 day hold period expiring October 18, 2019. 

 The offering was over subscribed with total proceeds of $450,060 raised in two tranches 

 EAST ASIA MINERALS CORPORATION  

On behalf of the Board of Directors of East Asia Minerals, 

Terry Filbert,  

Chairman & CEO 

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.