Southeast Asia Mining Announces Non-Brokered Private Placement
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/11/11 -- Southeast Asia Mining Corp. (the "Company") announces that it intends to complete a non-brokered private placement to raise up to $4,000,000 through the issuance of up to 160,000,000 units (the "Units") at a price of $0.025 per Unit. The Offering will be made pursuant to exemptions from the prospectus requirements of the applicable securities laws.
Each Unit is comprised of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire an additional common share at an exercise price of $0.035 per share for a period of 36 months from the date that the common shares are listed on a recognized Canadian stock exchange. If a recognized Canadian stock exchange requires a hold period, then the exercise period will commence 36 months after the hold period is completed. All of the securities issued will be subject to a hold period of four months from the date of closing.
The proceeds from the sale of the Units will be used by the Corporation to advance the Company's KEMCO/Boh Yai project, to continue exploration surrounding the KEMCO/Boh Yai project and for working capital purposes.
Southeast Asia Mining Corp. is a junior exploration and mining company operating in Thailand and Southeast Asia.
Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's disclosure filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.
Contacts:
Southeast Asia Mining Corp.
Kerry Smith
Chairman
416 573 0840
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Datum: 11.08.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 45183
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Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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