East Asia Minerals closes $300,333 financing

East Asia Minerals closes $300,333 financing

2020-05-14 15:00 ET – News Release

Mr. Terry Filbert reports

EAST ASIA MINERALS CLOSES $167,273 FINAL TRANCHE OF $300,000 FINANCING

East Asia Minerals Corp. has closed financing previously announced on March 27, 2020, for a total of $300,333.

The company received aggregate gross proceeds of $167,273 for the issuance of 4,779,228 units of the company at a price of 3.5 cents per unit. Each unit will comprise one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one share at a price of six cents and expires in 24 months from the closing date. All securities issued under the private placement will be subject to a hold period expiring four months and one day from the closing date.

Terry Filbert, chief executive officer of East Asia Minerals, commented: “With the proceeds from this financing we are excited to start executing and advancing our announced milestones. With rising gold prices we believe the EAS assets will generate more interest as we start delivering on operational, environmental and strategic updates.”

The private placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.

The securities distributed under the offering will be subject to a four-month-and-one-day hold period expiring on Sept. 13, 2020.

About East Asia Minerals Corp.

East Asia Minerals is a dynamic junior gold developer with two assets totalling combined resources of 3.3 million ounces of National Instrument 43-101 gold resources in Indonesia, one of the leading gold producer countries in the world.

Per:      “Terry Filbert”                       

Terry Filbert, Director

President & CEO
info@eastasiaminerals.com
+1-206-890-8285

For investor contacts more information, please contact:

Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702