Date Closed

September 27, 2011

Lead Office

Vancouver

Value

11.00 Million CAD

On September 27, 2011, Barisan Gold Corporation, a wholly owned subsidiary of East Asia Minerals Corporation (EAS), completed an initial public offering of its shares to shareholders of EAS by way of a dividend-in-kind distribution. Each shareholder of EAS was entitled to receive one Barisan share for every four EAS shares held on the distribution date. Following the IPO transaction, Barisan further distributed to each shareholder, one right for each Barisan share held. Each right entitled the holder to purchase one unit at a subscription price of C$0.55. Each unit comprised of one share and one-half of one share purchase warrant.  The company entered into an agreement with a standby purchaser pursuant to which the standby purchaser agreed to acquire all units of the company that were unsubscribed for on the rights expiry date. Following the closing of the rights offering and the acquisition of unsubscribed units by the standby purchaser, Barisan raised approximately C$11 million.

East Asia Minerals Corporation, headquartered in Vancouver, British Columbia, is a mineral resource exploration and development company.

Barisan Gold Corporation, headquartered in Vancouver, British Columbia, is a gold-copper porphyry exploration company.

McCarthy Tétrault LLP represented EAS in its spin-off of Barisan Gold and the subsequent rights offering undertaken by Barisan Gold, with a team that was led by Joyce Lee, and included Shubha Krishnan, Tim McCafferty, and Joshua Walters.