Minaean Announces Closing of Private Placement of Units
Vancouver, BC, Canada – March 4, 2014 – Minaean International Corp. (TSX Venture Exchange: MIB; Berlin and Frankfurt Stock Exchanges: NJA) (“Minaean” or the “Company”) is pleased to announce that, further to its news release dated December 18, 2013, it has received final TSX Venture Exchange acceptance with respect to the closing of its non-brokered private placement (the “Private Placement”).
The Company issued 545,080 units (the “Units”) at a price of $0.075 per Unit for gross proceeds of $40,881. 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 $0.10 per share until September 3, 2015.
This private placement is subscribed by JZ Brake (North America) Co. Ltd, managed by David Chau.
All securities issued under the private placement are subject to a four month and one day hold period expiring on July 4, 2014.
The proceeds from the private placement will be used for working capital purposes.
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, FCA