Minaean Announces Closing of First Tranche of Private Placement
Vancouver, BC, Canada – June 22, 2012 – Minaean International Corp. (TSX-V: MIB; Berlin and Frankfurt Stock Exchanges: NJA) (the “Company”) is pleased to announce that it has closed the first tranche of its non-brokered private placement announced by news releases dated November 25, 2011 and February 21, 2012.
The Company issued a total of 700,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of $70,000. Each Unit consists of one common share and one-half transferable share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.12 per share until June 21, 2013.
All securities issued under the private placement are subject to a four month and one day hold period expiring on October 21, 2012.
Minaean is well known for its pioneering efforts in the manufacture of light gauge steel components for the construction industry and modular metal buildings. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications.
The shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol “MIB” and on the Berlin and Frankfurt Stock Exchanges under the symbol “NJA”. For more information, please visit www.minaean.com.
On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.
Hari Varshney, Director